California auditor accuses high-speed rail project of risky financing

The Sacramento BeeJanuary 24, 2012 

An artist's depiction of a California high-speed train.

In yet another blow to California's troubled high-speed rail project, California's state auditor said Tuesday that the project's financing is "increasingly risky" and its oversight inadequate.

The California High-Speed Rail Authority's most recent business plan, state Auditor Elaine Howle said in a report, relies on funding sources that are so uncertain "the program's overall financial situation has become increasingly risky."

Howle's report is the latest in a series of critical reports about the project, including by the Legislative Analyst's Office and the rail authority's own peer review group.

Read the full story at

The Fresno Bee is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service