SACRAMENTO, Calif. (KEYT) – Last week, Assemblymember Alexandra Macedo filed a formal request to audit the state's High-Speed Rail Authority Project with the state's joint legislative oversight authority.
The audit request was filed with the Joint Legislative Audit Committee, a bicameral oversight group that works alongside the California State Auditor's Office to investigate the state's investments and operations.
The 14-member groups is split between members of the state's Assembly and Senate and requires at least four members from each chamber before conducting business.
Requests for audits can end up approved, denied, retained, or referred to another agency by the Chair of the group and can focus on financial or performance oversight depending on the analysis of the request by the State Auditor's Office the statewide watchdog explained.
That analysis remains confidential until a hearing is held by the Audit Committee and then made publicly available. A searchable database of reports between 1993 and 2023 can be found here and a list of upcoming reports can be found here.
Once the audit is approved, the full analysis of the request can take up to six months noted the Audit Committee.
After a decade of preparation, a $9.95 billion down payment on an 800-mile, high-speed train system between San Francisco and Los Angeles was approved by California voters in 2008.
Image from the 2008 California High-Speed Train Business Plan published by the California High-Speed Rail Authority.
"Californians will be able to travel from Los Angeles to San Francisco in less than two hours and 40 minutes, cruising at speeds of 220 mph," boasted the 2008 California High-Speed Train Business Plan. "California’s high-speed train will be built with major capital contributions from multiple sources, including the State of California, the federal government, local and regional governments and private sector investors. Under Proposition 1A, state bond funding for construction cannot be spent until matching federal, local and private funding is also secured."
The system's backbone, linking Los Angeles/Anaheim and San Francisco was initially expected to cost the state $33 billion with an estimated $12-$16 billion from federal sources in 2008 dollars shared the 2008 High-Speed Train Business Plan.
Figure 24 of the 2008 California High-Speed Train Business Plan
The initial construction cost projections were developed by international engineering and management firm Parson Brinckerhoff as well as financial projections by Infrastructure Management Group with input from Barclays Capital and Goldman Sachs and was reviewed by European and Japanese government rail agencies noted the 2008 Business Plan and the High Speed Rail Authority which expected the system to be operational by 2030.
The Rail Autho