Audits

On March 8, 2000, at a hearing of the Committee on Appropriations, Subcommittee on Transportation, U.S. House of Representatives, we provided testimony on transit and highway projects costing $1 billion or more, or projects with congressional interest. Our testimony discussed three points regarding Federal Transit Administration (FTA) management and oversight of these projects. First, full funding grant agreements (grant agreements) have effectively limited the Federal government’s financial risks and promoted accountability; second, better guidance is needed for finance plans; and third, the Department of Transportation (DOT) needs to provide effective independent oversight of major projects.