Tuesday, April 02, 2013

CHSRA receives high marks from federal watchdog audit

The U.S. Government Accountability Office (GAO) gave the California High-Speed Rail Authority (CHSRA) high marks in each area studied for it's most recent audit, including estimates of cost, revenue, ridership and economic impact analysis.

The GAO audit finds CHSRA's ridership and revenue forecasts to be reasonable and that the CHSRA used best practices and followed all applicable laws. The GAO report contains no formal recommendations.

"The GAO's audit report is extremely clear that the CHSRA's processes and methodologies in estimating its costs, revenue and ridership are sound," said Dan Richard, chair of CHSRA's Board of Directors. "The CHSRA appreciates the GAO's input and is already taking steps to incorporate those suggestions."

Additionally, GAO audit found that CHSRA's funding plan recognizes the uncertainty of the current funding environment and the project is being built in usable phases and has identified an alternative funding source.

The report says CHSRA did a comprehensive job in identifying key economic impacts that could result from the high-speed rail project demonstrating the strong economic case for the project. This includes its ability to create jobs in the short-term and its potential to change the state's economic landscape in the long-term through improved connections between its metropolitan areas.

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