Quarterly Report on Cost-Savings Accrued by Amtrak Operational Reform
On February 5, we publicly released our quarterly report on cost-savings accrued by Amtrak operational reform. Amtrak's $61.3 million in savings from operational reforms in FY '06 contributed to its better-than-expected financial performance. The railroad's $433 million operating loss in FY '06 was $52 million below its $485 million operating grant appropriation. The report also provides the baseline from which we will measure Amtrak's FY '07 operational reform savings. We have set the FY '07 operational reform savings baseline at $550 million. Amtrak proposes to achieve $61 million in savings from FY '07 operational reforms and $19 million from other savings. The remaining $470 million will need to come from a combination of the Federal appropriation for operating subsidies and further savings. This report was issued to the House and Senate Appropriations Committees on January 18. As mandated by Congress in the Conference Report accompanying the FY '06 Appropriations Act for the Department of Transportation, reports requested by the House and Senate Appropriations Committees are subject to a 15-day hold before being publicly released.