Correspondence

 
July 25, 2013

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

Required by the Passenger Rail Investment and Improvement Act of 2008
Project ID: CC-2013-029
 
 
 

Summary

On July 25, 2013, 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 2013 through 2017 and its revised annual budget for fiscal year 2013 to the House Transportation and Infrastructure Committee, Senate Commerce, Science, and Transportation Committee, and House and Senate Appropriation Committees.

Overall, we found that Amtrak’s Plan addresses most of the requirements outlined in PRIIA, but lacks some required information, most notably regarding the company’s continued financial stability and several other performance metrics intended to ensure the railroad is improving its operating efficiency. Our previous assessments found similar deficiencies in prior Plans. However, unlike the previous plan, this Plan omits several important PRIIA-required metrics—such as debt service costs and equipment reliability statistics—that would demonstrate the extent of the railroad’s operating efficiency improvements.

 

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