The State audit of TriMet and the agency response are now available.
There are no huge new revelations. But here are a few initial takeaways:
- Underfunded liabilities for both pensions and health benefits are confirmed as a significant financial challenge for TriMet
- Excess executive compensation is NOT identified as a source of financial strain, perhaps taking some wind out of one of ATU’s persistent claims
- I was surprised by a couple of things:
- The poor state of tools and processes that allow management to communicate with employees
- Lack of a rigorous performance evaluation system for either union or non-union employees