New Report Finds Improved Inventory Practices Could Help Amtrak Better Manage Equipment
WASHINGTON – Amtrak could better manage its maintenance-of-way and rolling stock equipment if it implemented better internal controls, a recently released Amtrak Office of Inspector General report found.
According to the report, the company has not maintained an accurate inventory of such equipment, did not consistently inspect all of its equipment, could not account for an estimated $4.1 million in equipment during the OIG’s review, and did not consistently comply with federal requirements to account for equipment purchased with grant funds.
These issues are primarily due to Amtrak’s lack of effective procedures that would ensure its managers record key information on equipment receipt, use, and disposal in the company’s asset management system, according to the report.
To address the report’s findings, the OIG recommended Amtrak develop and implement procedures to ensure that it records this key information throughout the life of the equipment, inspects its equipment as required, and consistently accounts for it. This includes procedures to ensure that the department complies with federal requirements for equipment purchased with grant funds.
The company agreed with the OIG’s recommendations. More details are available in the full report, located on the OIG’s website: http://go.usa.gov/xyMyR