New Audit Announcements
Audit Initiated of FTA's Oversight of the Access to the Region's Core (ARC) Project
The Office of Inspector General plans to conduct an audit of the major risks facing the New Jersey Transit Corporation’s Access to the Region’s Core (ARC) Project in Northern New Jersey and the Federal Transit Administration’s (FTA) oversight of this capital project, which is now estimated to cost approximately $9 billion. The project is in preliminary engineering status and is under consideration for a $3 billion grant through FTA’s New Starts program–currently the largest amount slated for any New Starts project. The objective of this audit is to determine whether FTA’s oversight provides reasonable assurance that cost, schedule, funding, and other risks have been identified and strategies are underway to mitigate them.