The bill focuses on the financial reporting and investment practices of the Greater Attleboro-Taunton Regional Transit Authority (GATRA) for the fiscal year ending June 30, 2024. It introduces new legal language that specifies the financial year and mandates the reporting of investments at fair value, along with detailed limitations on deposits and investments, including collateralization requirements. The bill also outlines the responsibilities of management and independent auditors in preparing and evaluating the financial statements, emphasizing transparency and accountability, particularly in the context of the financial recovery following the COVID-19 pandemic.

In addition to the financial reporting updates, the bill addresses the Authority's post-employment benefits, including pension and healthcare plans, and specifies contributions required from both employees and the Authority. It includes new insertions that clarify the financial status of GATRA, such as specific figures for capital assets, pension liabilities, and Other Post-Employment Benefits (OPEB) expenses. The bill also presents key actuarial assumptions related to the OPEB liability, along with sensitivity analyses, and provides a comprehensive overview of GATRA's financial position, including operating revenues, expenses, and local funding contributions, ensuring a thorough understanding of the Authority's fiscal health.