Tennessee Valley Authority

We performed four agreed-upon procedures, which were requested solely to assist management in determining the validity of the Winning Performance payout awards for the year ended September 30, 2006.In summary, we found:Seven instances where adjustments to the fiscal year 2006 goals were not properly...

We audited $18.6 million of payments TVA made to a contractor for providing the services of TVA retirees to provide engineering and technical assistance to the Federal Emergency Management Agency for major disasters and emergencies. We found the contractor had overbilled TVA an estimated $149,584...

The Tennessee Valley Authority (TVA) contracted with the independent certified public accounting firm of PricewaterhouseCoopers LLP (PwC) to audit the balance sheets as of September 30, 2006, and the related statements of income, changes in proprietary capital, and cash flows for each of the three...

The Daily Coal Report (DCR) is used to identify variances between vendor/terminal and TVA shipment weights and to graph the identified variances.We performed an inspection to verify that TVA and vendor/terminal shipment weights were accurately entered into the DCR for the period December 1, 2005...

We audited $22.2 million of costs billed by a TVA contractor for providing construction and modification services for TVA generating plant switchyards, substations, electrical transmission system, and power control communication facilities. We found overbillings and overpayments of about $58,000...

TVA provides engineering and technical assistance to the Federal Emergency Management Agency (FEMA) for major disasters and emergencies using TVA retirees who are working for a TVA subcontractor. In April 2006, the Department of Homeland Security requested all Offices of the Inspector General to...

We audited $5.6 million of costs billed by a TVA contractor for providing construction and modification services for TVA generating plant switchyards, substations, electrical transmission system, and power control communication facilities. We found TVA had been overbilled an estimated $186,378 for...

At the request of the Coal Acquisition and Supply, Fossil Power Group, we initiated an inspection to review and obtain information related to a coal company’s cost and profitability assertions. The company leases land from TVA and pays TVA a royalty fee per ton on all coal removed from a mine which...

We conducted a review to determine whether TVA 's inventory management system, PassPort, accurately reflected the reported $14.3million in inventory housed at the Hartsville facility as of December20, 2006. We compared PassPort data to physical inventory on hand for 93 catalog identification numbers...

We surveyed TVA and financial institutions in the Tennessee Valley to identify (1) any TVA-owned cash accounts not currently accounted for by TVA's Treasury and (2) non-TVA-owned cash accounts set up in TVA's taxpayer identification number (TIN). In summary, we identified:One TVA-owned certificate...