Issues Being Faced by the Washington Metropolitan Area Transit Authority: Report

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General Accounting Office, 1979 - Subways - 82 pages
 

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Page 1 - Authority's primary function is to plan, develop, finance, and operate a rapid rail transit system serving the Washington Metropolitan Area Transit Zone. The zone includes the District of Columbia; the cities of Fairfax, Falls Church, and Alexandria and the counties of Arlington and Fairfax in Virginia; and the counties of Montgomery and Prince Georges in Maryland. The Transit Authority is governed by a board of six directors consisting of two members from Maryland, Virginia, and the District of...
Page 28 - If an asset requires a period of time in which to carry out the activities necessary to bring it to that condition and location, the interest cost incurred during that period as a result of expenditures for the asset is a part of the historical cost of acquiring the asset.
Page 1 - The Washington Metropolitan Area Transit Authority was created, effective February 20, 1967, by Interstate Compact by and between Maryland, Virginia, and the District of Columbia, pursuant to Public Law 89-774, approved November 6.
Page 1 - ... needs of the public. It is, therefore, necessary first to set forth and consider these problems and needs with which the regulation would have to deal. Metropolitan Area The metropolitan area, although it is in fact a single community, geographically is part of three separate political jurisdictions, the District of Columbia and the States of Maryland and Virginia. The seat of the national government is located in the city of Washington and its environs, and government is the principle industry...
Page 33 - Co provide access for the handicapped, as required by Section 504 of the Rehabilitation Act of 1973.
Page 49 - ... relative comparisons among alternatives, and that the JPSC recommendation that a 101 mile system be constructed appropriately reflected these relative comparisons. On this basis I wrote JPSC Chairman Francois on September 19, 1978, advising that the Department of Transportation accepts the 101 mile goal. Although as a matter of timing it was necessary to use the alternatives analysis procedures to develop the initial financing plan WMATA submitted in August, we have not assumed that the results...
Page 27 - Judgment is required in identifying the borrowings on which the average rate is based. .101 This section [presents] standards of financial accounting and reporting for capitalizing interest cost as a part of the historical cost of acquiring certain assets. For the purposes of this section, interest cost includes interest recognized on obligations having explicit interest rates, 1 interest imputed on certain types of payables in accordance with Section 169, "Interest: Imputation of an Interest Cost...
Page 1 - Authority is governed by a board of directors consisting of two directors and two alternates from each of the three jurisdictions — Maryland, Virginia, and the District of Columbia. The...
Page 52 - Although 100.0 fuel : benefits is an inverse one - rather than tax the transit user this tax option is levied on the competing transportation mode. This assists in attaining two goals: 1) it enables mass transit to compete more effectively with the automobile and 2) it reduces gasoline consumption thereby improving air quality and energy conservation. D. State Income Tax Surcharge Revenue Potential; The estimated yield from a ten percent surcharge on 1977 tax returns is as follows...

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