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Summary

On June 27, 2007, we announced our audit of the Massachusetts Turnpike Authority's 2007 Finance Plan Update for the Central Artery/Tunnel Project. The audit is mandated by Public Law 106-346, the Department of Transportation and Related Agencies Appropriations Act for Fiscal Year 2001. The audit objectives are to determine whether the Update: (1) complies with Federal Highway Administration Financial Plan guidance, (2) provides a project cost estimate based on all known and reasonable expected costs, (3) identifies appropriate and available funding sources and cash flows sufficient to meet the total estimated cost, and (4) discloses other issues affecting the project.