Profile
Terry Matsumoto founded Matsumoto Consulting in 2014 after more than 20 years at the Los Angeles County Metropolitan Transportation Authority (MTA) where he was the chief financial officer from 2004-2014. He served in the executive cabinet of the Los Angeles County Transportation Commission, a predecessor to the MTA, and the MTA supporting 7 chief executive officers from 1991 to 2004. Mr. Matsumoto provided senior management leadership to the MTA’s financial functions including accounting, budget, treasury and risk management and for the administrative areas of procurement, information technology, human resources, labor relations and general services.
Mr. Matsumoto was responsible for the specification, development, implementation and maintenance of the MTA’s enterprise accounting and financial systems. In addition to core accounting modules such as payables, receivables, general ledger and payroll, specific applications such as direct labor charging and indirect cost allocation plans were designed and implemented to support capital and operating grant billings and provide enhanced internal controls and management reporting for both capital projects and operating programs such a bus, bus rapid transit, and light and heavy rail. These costing methodologies supported the development of “activity based costing” models to be able to drill down on the specific activities, transportation, vehicle and facilities maintenance, security and administrative functions, that would otherwise have no visibility in such traditional bus operating metrics such as cost per hour or cost per mile.
Mr. Matsumoto was the executive in charge of the development of MTA’s annual capital and operating budgets that grew from $3 billion in 1993 to over $5 billion in 2014. MTA’s 2014 bus operating budget of over $975 million included contracted bus services of approximately $45 million in 3 separate contracts covering 18 out of 180 bus lines with nationally recognized contract bus service providers.
Mr. Matsumoto also provided the funding and financing of MTA’s rail development plan that included the construction of new subway services, including the openings of all three segments of the Red and Purple Lines, and light rail projects including the Green, Gold, and Expo Lines. The funding included over $2 billion in federal new starts grants and $2 billion in State grants from various sources such as Proposition 116 and Propositions 1A and 1B rail bonds. Financing included over $1.5 billion in Transportation Infrastructure Finance and Innovation Act (“TIFIA”) direct loans and the issuance of over $4 billion of tax exempt and taxable sales tax revenue bonds.
After beginning his working career as an auditor with the international public accounting firm now known as PriceWaterhouseCoopers and earning his CPA certificate, Mr. Matsumoto was the Division Controller of Tetra Tech, Inc., Washington DC, whose business centered on federal defense and energy contracting, Assistant Controller for Republic Geothermal, Inc, focusing on federal alternative energy grants and Controller of the Community Redevelopment Agency of the City of Los Angeles that relied heavily on federal housing and urban development grants.
Selected Press
Curriculum Vitae
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