Examination of United States Railway Association's Financial Statements, Fiscal Year 1979

A review was made of the U.S. Railway Association's (USRA) financial statements for the fiscal year ended September 30, 1979. USRA monitors and provides financing for the Consolidated Rail Corporation (Conrail), which operates railroads in the Midwest and Northeast.The USRA role includes: (1) controlling the flow of Government investment and loan funds to Conrail; (2) monitoring Conrail's performance; (3) participating in litigation regarding the allocation of Conrail securities and compensation to the bankrupt railroads whose assets were taken to form Conrail; and (4) investigating alternatives to and for Conrail.