Semiannual Report on Amtrak's Financial and Operating Performance and Savings from Reform
On May 31, 2011, as mandated by the fiscal year 2010 Consolidated Appropriations Act, we issued our semiannual report to the House and Senate Appropriations Committees on Amtrak’s savings from operational reforms and year-to-date financial performance. The report also includes an update on Amtrak’s use of its Key Performance Indicators (KPIs) to improve company performance and assess progress of improvement initiatives.
In the first six months of fiscal year 2011, Amtrak’s operating loss of $238.8 million was $76.4 million (24.2 percent) less than budget projections, and $24.4 million less than its actual operating loss for the first six months of fiscal year 2010. The less-than-budgeted operating loss was mostly due to less-than-expected expenses. Amtrak projects that some of the savings achieved in the first half of the year will be maintained through the end of the fiscal year. The projected year-end operating loss is $506.9 million--$85.1 million (14.4 percent) less than budget projections, but $87.0 million more than fiscal year 2010. KPIs appear to be useful to management in its efforts to improve services and financial management.