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Federal Transit Administration
Financial Management Oversight Seminar 2005

Page 71 - Elements of Internal Control - Risks: Activity Cycles

Flow Chart of the Risk Assessment Activity Cycles

  1. Policy and Planning Cycle
    • Overall Mission
    • Long Term Planning
    • Determine Policies
    • Set Procedures
  2. Budget Cycle
    • Formulation
    • Approval
    • Implementation
    • Control
    • Reprogramming
  3. Program Cycle
    • Transit Operations
    • Operations Support
    • Customer Service
    • Capital Program
  4. Administrative Cycle
    • Grants management
    • Procurement
    • Accounting
    • Personnel
  5. Reporting Cycle
    • Financial Reports
    • Management Reports
    • Operating Reports
    • Legal Reports


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2005 - Federal Transit Administration