New Audit Announcements
Audit Initiated of FTA's Oversight of Major Transit Projects in New York City: East Side Access
The Office of Inspector General (OIG) announced in March 2010 that it was conducting a series of audits of the Federal Transit Administration’s (FTA) oversight of major transit projects in New York City. On August 15, 2011 the OIG released its audit report on the Metropolitan Transportation Authority’s (MTA) Fulton Street Transit Center project. We are continuing our series with an audit that will focus on FTA’s oversight of MTA’s East Side Access project. With an estimated cost of approximately $8 billion, it is one of the largest, most complex capital transit projects in the country, and the largest project MTA has ever undertaken. FTA has committed to investing almost $2.7 billion in the East Side Access project, including New Starts and American Recovery and Reinvestment Act (ARRA) funding. Our objectives will be to evaluate whether FTA’s efforts have ensured that: (1) current project plans will mitigate cost, schedule, and local funding risks; and (2) ARRA funding and oversight requirements were met.