Audit Uncovers Years of MATA Financial Mismanagement

A forensic audit conducted by PricewaterhouseCoopers uncovered extensive financial mismanagement at the Memphis Area Transit Authority (MATA) between 2018 and 2024, revealing millions in undocumented or questionable expenses. The $600,000 audit found that MATA had no defined departmental budgets since October 2023 and approved numerous expenditures without proper documentation or justification. Key findings include $2.5 million in credit card payments with 44% lacking receipts, $4.6 million for downtown office rent, $1.2 million for office furnishings, and nearly $300,000 for a suite at FedEx Forum. The audit also exposed misuse of grant money, excessive executive travel expenses, and contracts related to leadership job interviews. MATA's current leadership, which assumed control after many of the questionable transactions, has pledged transparency and is reviewing past processes. The revelations have triggered public outcry and demands for accountability as the agency faces a $60 million budget shortfall.