Myki has more money troubles

In a sign the audit office does not have full confidence in the Transport Ticketing Authority’s financial management, Mr Pearson gave only a qualified sign-off to the agency’s annual report, which was among the hundreds released yesterday.> > > > > Mr Pearson wrote that the authority had not met the requirements of the state’s Financial Management Act. “The authority had not maintained effective internal controls over myki cash collection and the processing of myki revenue,” Mr Pearson said in a letter included in the TTA’s annual report.

via theage.com.au

Not only are we paying top dollar for a system that was state-of-the-art 10 years ago, not only is it tremendously late, not only did the costs more than double - but they can’t even keep track of their own money.