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Brought to you by the Council of the Inspectors General on Integrity and Efficiency
Federal Reports
Report Date
Agency Reviewed / Investigated
Report Title
Type
Location
Department of the Treasury
FOREIGN INVESTMENTS: Review of Treasury's Failure to Provide Congress Required Quadrennial Reports in 1998 and 2002 on Foreign Acquisitions and Industrial Espionage Activity Involving U.S. Critical Technological Companies
We audited $16.5 million of costs billed to TVA by a contractor for providing cleaning and removal services using high-powered vacuum and hydro-blasting services to various TVA locations. In summary, we found the contractor had (1) overbilled TVA an estimated $115,617 in unsupported and ineligible costs and (2) performed certain services and fixed price tasks not provided for by the contracts. The contractor agreed it had overbilled TVA for certain questioned costs and disagreed with other questioned overbillings. The contractor also agreed TVA had made payments for certain services and fixed price tasks not provided for by the contracts. TVA management agreed with our findings from the detailed review of invoiced costs but requested additional information regarding the methodology used for estimating the overbilling. Management, however, did not address how it planned to ensure prices being paid for services currently included in the contract are reasonable. Summary Only
