Annual financial audit presented; no deficiencies in “clean” report
ARLINGTON HEIGHTS, IL – At their meeting yesterday, Pace’s Board of Directors approved a new Mobility as a Service (MaaS) platform, voted to make several permanent fare changes, and were presented with the results of Pace’s Annual Financial Audit from the independent certified public accounting firm Baker Tilly US, LLP.
As Pace works to leverage technology and innovation to modernize its system and create a better passenger experience, a contract with Quebec, Inc. (Transit) for a two-year MaaS pilot project was approved by the Pace Board. Driving Innovation, Pace’s strategic plan, identified the need for Pace to work with a MaaS provider to maximize transit access and ensure equitable regional access and system integration.
Typically made available through an app, MaaS services enable users to seamlessly plan and book multiple types of mobility services—such as fixed route, On Demand, and Dial-a-Ride. This app will eventually allow for information on all of Pace’s family of services to be accessed in one convenient location, something now possible thanks to recent developments in open data standards and advancements in the MaaS space.
“Pace has focused on the implementation of new and innovative service options that provide flexibility for our riders. The MaaS platform will enhance accessibility to our service through technology and improve flexibility when riding on multiple service providers,” said Executive Director Melinda Metzger.
To enhance and simplify the passenger experience and encourage riders to return to public transit, the Pace Board was asked to make permanent the reduced 7-Day and 30-Day CTA/Pace Pass prices, implemented as part of a six-month fare pilot project, and to approve the elimination of the Pace PlusBus Pass to make way for the new Regional Connect Pass. A proposed fare reduction for the Metra Link-Up Pass, the existing CTA/Pace pass for Metra Monthly Pass holders, to $30 (previously $55), would make the PlusBus, a Pace-only $30 pass, duplicative. The Metra Link-Up will be rebranded as the Regional Connect Pass and will be available for sale beginning June 20 and available for riding purposes on July 1, 2022.
“Partnering with CTA and Metra on the Regional Connect Pass just makes sense,” said Chairman Rick Kwasneski. “We are all working to bring passengers back to transit and simplify travel across the region. We hope these pass price changes help the good people of our region.”
The RTA Act requires that Pace, as well as the other Service Boards, annually prepare financial statements that are audited by an independent certified public accounting firm. Pace’s 2021 audits were performed by the firm of Baker Tilly US, LLP., who issued an unmodified opinion (“clean” report) on Pace’s Financial Statement Audit and reported that Pace remains a low-risk auditee.
“We are pleased to report that this audit did not contain any deficiencies or recommendations for improvement,” Pace Chief Financial Officer Lorri Newson told management. “Pace is a good steward of the taxpayer dollar, and this audit is reflective of that.”
Unless otherwise noted, Pace Board Meetings are held in the Board room of Pace headquarters at 550 W. Algonquin Road, Arlington Heights, IL, on the third Wednesday of the month at 9:30 a.m. The meetings are live steams and past meetings are available for viewing on Pace’s Board Meeting Video page.