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Status of Audit Report on the 2004 Central Artery/Tunnel Project Finance Plan

We advised the Federal Highway Administrator that we do not have a credible basis on which to conclude that project costs, schedule and funding including in the finance plan are reasonable until it is determined how many leaks there are in the Project’s I-93 tunnels, their severity, and the associated costs to repair them. The Massachusetts Turnpike Authority has retained Deloitte & Touche to perform an audit of related costs and payments. We plan on performing a quality assurance review of Deloitte & Touche’s work to ensure that it is adequate in scope and conducted in a manner that meets applicable audit standards.