The Office of the Controller’s City Services Auditor (CSA), Audits Division, engaged Sjoberg Evashenk Consulting, Inc., (SEC) to audit the lease agreement (lease) under which LAZ Parking (LAZ) operates the Ellis O’Farrell Parking Garage (garage). SEC also reviewed the management and oversight of the lease by the San Francisco Municipal Transportation Agency (SFMTA). The audit found, in general, that LAZ appropriately performed most parking garage activities in accordance with the lease; however, we identified areas that warrant improvement, such as LAZ overcharged SFMTA for its monthly management fees. SFMTA ensured LAZ appropriately performed most parking garage activities to ensure satisfactory operational and financial performance at the garage. However, SFMTA can improve its oversight of garage operations and better monitor LAZ’s compliance with the lease.
The full report can be found here.
