FOR IMMEDIATE RELEASE:  November 16, 2006 SB-06-62

INSPECTOR GENERAL GIVES NTSB "CLEAN" FINANCIAL REPORT FOR A FOURTH CONSECTUTIVE YEAR

These results are from an audit conducted on the Safety Board's financial statements for Fiscal Year 2006. In addition, the Board met the November 15th submission deadline.

"For nearly four decades the National Transportation Safety Board has been at the forefront of transportation safety issues - the conscience, if you will, of America's vital transportation network," NTSB Chairman Mark V. Rosenker said. "The NTSB is not only our nation's premier accident investigation agency, but also enjoys an excellent reputation as the most authoritative independent safety investigative body in the world. In that same spirit, it is our vision that the Board become a premier financial management agency in the Federal government. The submission of our Performance and Accountability Report is another step toward that vision."

The NTSB Chief Financial Officer Steven Goldberg said, "In FY 2006, the NTSB continued its efforts toward organizational excellence, which is defined by results. Progress for much of our efforts toward excellence is captured in the NTSB FY 2006 Performance and Accountability Report (PAR). The PAR provides the NTSB's most important financial and performance information. It is also our principal publication and report to Congress and the American people on our stewardship and management of the public funds entrusted to us."

The audit was conducted by Leon Snead and Company CPA of Rockville, Maryland. 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 theDOT/IG its audit oversight authority over the NTSB's financial management, property management and business operations.

NTSB Press Contact: Ted Lopatkiewicz (202) 314-6100
lopatt@ntsb.gov

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