The Central Oklahoma Transportation and Parking Authority (COTPA) is a public entity responsible for the planning, development and operation of transportation services in Oklahoma’s capital. COTPA hired Walker Consultants to perform an operational and financial reporting audit, with the goal of being able to compare parking management and incentive fees with other similar agencies around the nation.
Walker also reviewed COTPA’s operations technology, policies, and procedures. This included a review of reporting capabilities and data management, local and remote security settings, integration protocols, and adherence to Payment Card Industry Data Security Standards (PCI-DSS).
Walker’s research and data collection revealed a number of parking systems that were comparable to COTPA’s structure. Walker then developed a list of operational and ﬁnancial reporting ﬁndings. Each deliverable provided a catalog of observed practices and their associated best practice recommendations.
The initial audit served as a baseline measurement tool by which COTPA could compare its operational and ﬁnancial reporting practices to those of its peers before making adjustments. A second audit then evaluated the results of those adjustments.
With Walker’s analysis and the shared experience of our parking operation professionals, COTPA was able to refine its operational and financial reporting practices to match industry best practices.