INSPECTOR GENERAL GIVES NTSB "CLEAN" FINANCIAL AUDIT

WASHINGTON, D.C. - The Department of Transportation's Inspector General has released results of its review of an audit conducted on the National Transportation Safety Board's financial statements for 2003, saying it agreed with the auditor's unqualified, or "clean," opinion.

"You and your team should celebrate this clean opinion as a significant accomplishment," Inspector General Kenneth M. Mead wrote to NTSB Chairman Ellen Engleman-Conners. "This is the first year that NTSB has been required to prepare audited financial statements. I compliment you and your team on achieving this clean opinion in the first year."

On receiving the report, Chairman Engleman-Conners said, "Since coming to the Safety Board last March, financial responsibility has been one of my four key priorities. As responsible stewards of the taxpayers' money, we must carry out our vital mission while ensuring that the resources provided to us are used to their maximum benefit."

The audit was conducted by Brown and Company CPAs of Arlington, Virginia. The Accountability of Tax Dollars Act of 2002 requires small agencies, such as the NTSB, to submit audited financial statements to the Congress and the Office of Management and Budget. The NTSB Reauthorization Act of
2000 gave the DOT/IG its audit oversight authority over the NTSB's financial management, property management and business operations.

Media Contact: Ted Lopatkiewicz, (202) 314-6100