Correspondence

 
March 28, 2012

Annual Report on Amtrak’s Budget and 5-Year Financial Plan

Required by the Passenger Rail Investment and Improvement Act of 2008
Project ID: J-2012-002
 
 
 

Summary

On March 28, 2012, as mandated by the Passenger Rail Investment and Improvement Act of 2008 (PRIIA), we issued our annual report on Amtrak’s 5-Year Financial Plan for fiscal years 2012 through 2016 and its revised annual budget for fiscal year 2012 to the House Transportation and Infrastructure Committee, Senate Commerce, Science, and Transportation Committee, and House and Senate Appropriation Committees.

We found that Amtrak’s 5-Year Financial Plan addresses most of the requirements outlined in PRIIA, but lacks some required information, most notably regarding the company’s financial stability and past performance.  Our previous assessments also found these deficiencies in the Plans, but, according to Amtrak officials, the company is currently addressing them.  In accordance with the company’s Strategic Plan, issued in 2011, Amtrak organized the Financial Plan around new strategic goals and revised its annual budget for fiscal year 2012 to align with the Plan.

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