MATA has one month of expenses left, then it’s out of cash
Busses arrive and leave from the Hudson Transit Center in Downtown Memphis Oct. 17, 2024. According to a transaction log provided by city officials, MATA has about $5.4 million left, representing about one month of revenue. (Patrick Lantrip/The Daily Memphian file)
The City of Memphis hired PriceWaterhouseCoopers to examine the Memphis Area Transit Authority’s finances.
The accounting giant’s hire comes as the city works to install other consultants in the bus system’s C-suite. Memphis will pay PWC $600,000. The money for forensic accounting adds to the city’s growing investment in a bus system that is not a city division.
Last month, the MATA Board of Commissioners voted to work on a contract with Transpro, a consulting firm the city hired. The contract would allow several Transpro executives to assume interim leadership roles at MATA and take over day-to-day operations.
This fall, the city released a scathing report by Transpro; Memphis Mayor Paul Young also replaced the entire board and installed the current board.
A few weeks later, the Young administration moved to install John Lewis and three other Transpro executives into MATA part-time. That move, when it’s agreed to, will cost Memphis taxpayers $1.2 million.
Topics
Subscriber Only Memphis Area Transit Authority MATA John Lewis JB Smiley Jr. TransPro Consultants LLC PricewaterhouseCoopers LLP Memphis Mayor Paul YoungThank you for supporting local journalism.
Subscribers to The Daily Memphian help fund our not-for-profit newsroom of nearly 40 local journalists plus more than 20 freelancers, all of whom work around the clock to cover the issues impacting our community. Subscriptions - and donations - also help fund our community access programs which provide free access to K-12 schools, community organizations, and more. Thank you for making our work possible.
Samuel Hardiman
Samuel Hardiman is an enterprise and investigative reporter who focuses on local government and politics. A native Rhode Islander who lives Downtown, he enjoys tennis, golf and reading.
Want to comment on our stories or respond to others? Join the conversation by subscribing now. Only paid subscribers can add their thoughts or upvote/downvote comments. Our commenting policy can be viewed here.