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Governance: Observations on Amtrak’s Use of CARES Act Funds

Audit · Amtrak (National Railroad Passenger Corporation) OIG · 2020-08-05 · about Amtrak (National Railroad Passenger Corporation)

Report

Title
Governance: Observations on Amtrak’s Use of CARES Act Funds
Submitting OIG
Amtrak (National Railroad Passenger Corporation) OIG
Component agency
Amtrak (National Railroad Passenger Corporation)
Type
Audit
Publication date
2020-08-05

Summary

The objective for this management advisory report was to monitor and assess how the company is using CARES Act funds and the controls it has in place to accurately account for and report on them.The company experienced a sharp drop in ridership and passenger revenues in March 2020 as a result of the coronavirus pandemic. The company’s response included aggressive cost-cutting actions such as cancelling some of its train service and reducing management pay and retirement benefits.

Source

Authoritative
oversight.gov report page
Machine
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