Federal Reports

We have audited the accompanying Reclassified Financial Statements of the U.S. Postal Service which comprises the Government-wide Treasury Account Symbol Adjusted Trial Balance System (GTAS) Reconciliation Report – Reclassified Balance Sheet as of September 30, 2020, and the related GTAS Reconciliation Reports – Reclassified Statement of Net Cost and Reclassified Statement of Changes in Net Position, for the year then ended (hereinafter referred to as reclassified financial statements) and accompanying Note 44.

Report on the Railroad Retirement Board's Financial Statements Fiscal Year 2020

Pursuant to the Chief Financial Officers Act of 1990, as amended, this memorandum transmits the Independent Auditor’s Report issued by Brown & Company Certified Public Accountants and Management Consultants, PLLC (Brown & Company) for the fiscal year (FY) ending September 30, 2020. Enclosed you will find the Independent Auditor’s final audit report on the FEC (i.e., the “FEC” or “Commission”) FY 2020 Financial Statements. The final audit report is additionally included in Section II of the FEC’s FY 2020 Agency Financial Report

This report details KPMG’s findings of its audit of financial statements from the Office of the Special Trustee for American Indians (OST) for fiscal years 2020 and 2019. The OST financial reports contain financial statements and notes for Tribal and Other Trust Funds (Tribal) and Individual Indian Monies Trust Funds (IIM).KPMG issued a qualified opinion, consistent with prior years, on the Tribal financial statements because it was unable to satisfy itself as to the fairness of trust fund balances. KPMG issued an unmodified opinion on the IIM financial statements.

KPMG LLP has its audit of the U.S. Department of the Interior's financial statements for fiscal years 2020 and 2019. KPMG found the following:• The financial statements were fairly presented, in all material respects, in accordance with U.S. generally accepted accounting principles• One material weakness and four significant deficiencies in internal controls over financial reporting• No instances in which the DOI's financial management systems did not comply substantially with the requirements of FFMIA• No reportable noncompliance with provisions of laws tested or other mattersWe reviewed KPMG's work and found no instances where KPMG did not comply, in all material respects, with U.S. generally accepted government auditing standards.

The Office of the Inspector General (OIG) performed procedures that were requested and agreed to by Tennessee Valley Authority (TVA) management solely to assist management in determining the validity of the Winning Performance/Executive Annual Incentive Plan (WP) Measures for fiscal year (FY) ending September 30, 2020. The WP Measures data provided to the OIG and to which the agreed-upon procedures were applied is the responsibility of TVA management. In summary, procedures applied by the OIG found: • The FY 2020 WP goals for the Enterprise measures were properly approved. There was one change form, approved on February 28, 2020, that affected one measure.• The FY 2020 goals (target) for the corporate multiplier measures were properly approved. • The actual FY to-date results for the Enterprise measures agreed with the underlying support, without exception.• The actual FY to-date results for the corporate multiplier measures agreed with the underlying support, without exception.• The FY 2020 WP payout percentage provided by the Benchmarking and Enterprise Performance organization on November 3, 2020, was mathematically accurate and agreed with the OIG’s recalculation.