New Audit Announcements
Audit Initiated on FTA's Oversight of Major Transit Projects in New York City
The Office of Inspector General plans to conduct a series of audits of the Federal Transit Administration’s oversight of the following major transit projects in New York City: the Metropolitan Transportation Authority's Fulton Street Transit Center, Second Avenue Subway, East Side Access projects, and the Port Authority of New York & New Jersey's Trans-Hudson Terminal project. Vigilant oversight of these transit projects is critical to maximizing the return on the significant Federal investment and completing them in a timely manner. Further, projects funded by the American Recovery and Reinvestment Act (ARRA) require unprecedented levels of accountability and transparency to minimize the potential for fraud, waste, and mismanagement. For each selected project, our audit objectives will be to: (1) evaluate the effectiveness of FTA’s oversight of the project, including cost, schedule, funding, and grantee management issues; and (2) assess whether ARRA goals and requirements are being met, if applicable. Our approach will be to conduct an audit of each project, starting with the Fulton Street Transit Center, the project receiving the largest amount of ARRA funding from FTA.
Update: This series of audits has been suspended in order to address other priorities.