The bill focuses on the financial reporting and accounting practices of the Greater Attleboro-Taunton Regional Transit Authority (GATRA) for the fiscal year ending June 30, 2024. It includes key insertions such as specific financial figures, including total capital assets, short-term debt, and pension liabilities, as well as new language regarding the Authority's post-employment benefit plans. The financial statements indicate a total net position of $27,467,943, reflecting an 11.2% increase from the previous year, with operating revenues rising by 10.9% to $77,424,515 and operating expenses increasing by 11.4% to $103,202,720. The report emphasizes the importance of federal and state assistance in supporting GATRA's operations and capital contributions.

Additionally, the bill outlines the responsibilities of management and auditors in preparing the financial statements, ensuring compliance with accounting principles and auditing standards. It details the Authority's OPEB liability, including key actuarial assumptions such as a discount rate of 4.21% and an inflation rate of 2.50%. The report also highlights the local cities and towns' funding contributions totaling $4,963,615 and the net cost of service for the Authority, which amounts to $14,017,925. An independent auditor's assessment concludes that there were no material weaknesses or instances of noncompliance in the Authority's internal control over financial reporting.