GAO: Amtrak’s financial reporting ‘incomplete’

January 9, 2016

From Progressive Railroading Magazine

Amtrak‘s “inconsistent and incomplete” reporting of its financial data has hindered the passenger railroad’s ability to demonstrate the progress it has made since it restructured itself into three business lines, the U.S. Government Accountability Office (GAO) said in a report published this week.Website Insert Start Here copy

In 2012, Amtrak reorganized into the Northeast Corridor, state-supported and long-distance business lines, and established a structure to improve accountability for its performance. The GAO noted that the railroad’s new strategic management system as implemented by the long-distance line reflects several leading performance management practices, such as linking line-of-business goals and initiatives to corporate-wide strategies, assigning personnel to execute the initiatives, and tracking the results.

However, Amtrak hasn’t implemented the system across the remaining lines of business and departments. Better reporting, planning and financial information could enhance decision-making at Amtrak, the GAO concluded.

Click here to read the full story.

 

Previous post:

Next post: