i am the department in charge of the audit at the transbay tjpa. under government auditing standards, and general accepted accounting principles, the financial statements are presented to you, alongside three opinions. one of which is on the fair presentation of the financial statement, as well as the couple more opinions. one of which is on federal compliance. the agency receives a significant amount of federal funding, as well as reporting to you any significant deficiencies or material weaknesses in internal control. i am pleased to let you know that we issued a clean opinion in all 3 areas. no audit adjustments as it relates to the financial statements. we had no internal controls, no material deficiencies noted in the regular audit, as well as the federal compliance audit that we have performed for fiscal year 2011. the financial statements you see here are financial's at present the overall position of the agency as of june 30. it has a balance sheet, statement of revenues, changes and expenses of net assets, as well as a given transactions t