Acquisition and Disposal of Real Property

The Office of the Inspector General conducted an evaluation to determine if the Tennessee Valley Authority (TVA) was effectively managing acquisitions and disposals of real property. We determined TVA effectively managed the real property acquisitions and disposals for the sample of transactions we reviewed. Specifically, we determined sampled acquisition and disposal decisions were generally supported by the financial, environmental, and title reviews conducted as part of TVA’s real property transaction process; however, we identified noncompliance with some parts of the standard programs and processes and user guides. We also identified opportunities for improvement related to information provided to the TVA Board of Directors and clarification within the standard programs and processes and user guides. Additionally, we identified issues related to TVA’s survey process.