Intragovernmental FY 2005 3rd Quarter Activity and Balances

Each quarter federal agencies, including TVA, submit intragovernmental balances by federal trading partner (TP) to the U.S. Treasury (UST) to assist in preparing the annual governmentwide consolidated financial report. To facilitate TVA's reconciliation with its TPs at yearend, we reviewed the FY 2005 3rd quarter intragovernmental information reported to UST. In summary, we found (1) Intragovernmental balance information as reported generally agreed with the third-quarter financial statements, (2) some inaccuracies in the data submitted in the U.S. Treasury Intragovernmental Reporting and Analysis System, indicated the need for better controls to ensure data reported is accurate and representative of balances in TVA's financial statements, and (3) the Controller organization made reasonable efforts to explain and resolve any material differences in the balances reported by TVA and those reported by its federal trading partners.