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3 golden objects Minnesota Legislature

Office of the Legislative Auditor - Financial Audit Division

Report Summary
Metropolitan Council
Transit Financial Activity Review
October through December 2018


Financial Audit Division Released May 2, 2019

The Metropolitan Council (Council) works with state and local government entities to plan for the future of the Twin Cities metropolitan region. The Council also provides services to citizens, including wastewater treatment and public transit. A 17-member governing board oversees the Council, with most members representing geographical districts in the Minneapolis-Saint Paul metropolitan area.

Under current state law, the Office of the Legislative Auditor (OLA) must “perform a transit financial activity review” four times yearly, using information provided by the Council and the Counties Transit Improvement Board (CTIB).1 CTIB was dissolved on September 30, 2017, and was not included in our review.2 The law requires OLA’s financial reviews to include:

  • Summaries of monthly financial statements, including balance sheets and operating statements that show income, expenditures, and fund balances.
  • Lists of transit-related obligations and agreements, including bonds, notes, grants, and future funding commitments.
  • Information regarding the amount of funds that have been committed.
  • Analysis by OLA of the “fiscal viability of revenues and fund balances compared to expenditures.”
  • OLA comments regarding compliance by the Council in providing the required information for this report.


For transit-related activities, the Council was on solid financial footing. The Council generated adequate revenues to meet its obligations. The Council also had a strong balance sheet, with assets that exceeded liabilities and reserves that exceeded its policy requirements.


1 Minnesota Statutes 2018, 3.972, subd. 4.
2 CTIB, Resolution #35-2017, Relating to the Termination of the Counties Transit Improvement Board’s Joint Powers Agreement, Satisfaction of CTIB Conditions, and Notice of the Termination of the Tax to the Minnesota Department of Revenue, June 21, 2017.

More Information

Office of the Legislative Auditor, Room 140, 658 Cedar St., St. Paul, MN 55155 : or 651‑296‑4708