PX: Fortune 500 CEOs business leaders launch audit of SORTA. Will more money be found?

Cincinnati's bus system by the numbers Wochit

The spotlight shining on Cincinnati's beleaguered public transportation agency is about to get a lot brighter.

Top executives from Procter & Gamble, Kroger and other major regional companies have launched a deep dive into SORTA's books, Cincinnati Business Committee Executive Director Gary Lindgren told Politics Extra.

Accounting giant EY – formerly known as Ernst & Young – has been hired to perform the audit. It's a joint effort by the CBC, Cincinnati Regional Business Committee and Cincinnati USA Regional Chamber to assess whether the transit authority should ask voters to approve a sales-tax hike.

The audit comes at a time when oversight at SORTA is in serious question. The agency raised eyebrows last week, when SORTA revealed an internal financial review found an extra $8 million sitting in the bank.

MORE: Amid myriad problems, streetcar official receives $22,000 raise

To be clear, business leaders decided to commission the outside audit well before the money had been discovered. In fact, the timing of SORTA releasing information about the $8 million is curious. Was SORTA trying to get ahead of the business community's audit?

Cincinnati has one of the worst transit agencies in America for connecting people to jobs, and SORTA leaders have kicked around the idea of a transit tax to help fix the system. Voters first need full accountability from SORTA in order to make an informed decision on a potential ballot initiative this fall or in the near future.

The business committees' involvement is a good thing, and the groups have a track record of bringing collaboration around tax levies and economic development issues. The Chamber's involvement also is critical. It has placed a high priority on addressing regional transportation issues the past few years, including playing a key role in the recent launch of a transit partnership with Uber.

The business groups are privately funding the audit, which SORTA leaders requested last year, according to a letter obtained by Politics Extra.

MORE: SORTA leader pushes sales tax hike – even though he votes in Texas

EY's assessment is expected to take four months, and the firm will take a comprehensive look at how much money and assets SORTA has and where the agency's money comes from. The accounting firm also will make a long-term financial forecast for SORTA, which runs the Metro buses and Cincinnati streetcar.

Afterward, the business community will make a recommendation on the levy and allow SORTA to use the information to make improvements.

The Cincinnati Business Committee represents top executives from most of the region's Fortune 500 and largest companies, including Procter, Kroger, GE Aviation, Cintas and Western & Southern. The Cincinnati Regional Business Committee is a partner of the CBC, representing CEOs from mid-sized companies.

The CEO organizations performed a similar financial assessment of the Cincinnati Public Schools a few years ago. The data helped guide the business community's decision to get behind the Preschool Promise ballot initiative, which passed decisively.

In recent years, the CBC also commissioned a study to bring low-cost airlines to Cincinnati/Northern Kentucky International Airport. The CBC played a key role in recruiting discount carrier Southwest Airlines to town last year.

In other words, when we want something done around here, call the business community. And it's past time something be done about the bus system.

Politics Extra is a column looking inside Greater Cincinnati and Ohio politics. Follow Enquirer political columnist Jason Williams on Twitter @jwilliamscincy.

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