The Honolulu Authority for Rapid Transportation (HART) announced the successful completion of an annual audit of its financial statements for the fiscal year ended June 30, 2025. The audit was performed by N&K CPAs, Inc., an independent accounting firm based in downtown Honolulu. This marks the fourth consecutive year an independent auditor issued an unmodified opinion, indicating no internal controls weakness and HART’S financial statements are fairly presented and free of material misstatements.
“The positive result of the FY25 financial audit are a clear reflection of the hard work, integrity, and accountability of our entire HART Ohana,” said HART Executive Director and CEO Lori Kahikina. “This result reassures taxpayers funding the project that we are fully committed to managing every dollar responsibly while delivering a rail system they can be proud of.”
“We have audited the financial statements of the Honolulu Authority for Rapid Transportation (HART), a component unit of the City and County of Honolulu, as of and for the fiscal year ended June 30, 2025, and the related notes the financial statements, which collectively comprise HART’s basic financial statements as listed in the table of contents,” N&K CPAs’ report states. “In our opinion, the accompanying financial statements referred to above present fairly, in all material aspects, the financial position of HART, as of June 30, 2025, and the changes in financial position and its cash flows for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.”