High-Speed Rail Authority reports $4.6 billion cash position; $20.5 million in change orders

The California High‑Speed Rail Authority’s Finance and Audit Committee heard a financial briefing in May showing the authority’s total cash position at about $4.6 billion and nine executed change orders totaling $20.5 million.

The briefing, presented by the authority’s chief financial officer, said the reported cash balance includes $671 million in Proposition 1A bond funds, about $3.7 billion in cap‑and‑trade funds and $13 million in the property management fund. “This balance for our cap and trade does not yet include the $212,000,000 that's allocated to us from the February 2025 auction. And we should see that within a month or 2,” the CFO said.

The nut graf: The committee’s financial update outlines how current cash and funding sources are being directed to advance the early operating segment between Merced and Bakersfield and to continue project development work required under the authority’s federal grant obligations. The update also flagged items that could affect near‑term spending and schedule, including a concentration of invoice disputes…