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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
Tennessee Valley Authority
Audit of PwC's Review of TVA's FY 2005 Second Quarter Financial Information
We found no instance where TVA's external auditors' reviews of TVA interim financial information for the second quarter of FY 2005 did not comply with Government Auditing Standards in all material respects, including required communications to appropriate parties.<br><br>
We reviewed $109.8 million in costs paid by TVA to a contractor for providing engineering services associated with the restart of Browns Ferry Nuclear Plant (BFN) Unit 1. We questioned $2.5 million, including (1) the contractor's inclusion of the labor costs of its affiliate company in its performance base and (2) overcharges for labor and related costs and other direct costs. TVA decided to (1) allow the contractor to include the labor cost of its affiliate in its performance fee base and (2) recover any remaining costs that were not directly billable under the contract. Summary Only
J-1 Visa Waiver program provides a waiver of the requirements for foreign physician to return to his/her home country after completion of Medical training.
We determined TVA's contributions totaled $1.261 million and $1.646 million for FYs 2003 and 2004, respectively. TVA's Corporate Contributions organization administered about 51 percent of the contributions in FY 2003 and 36 percent in FY 2004; other TVA organizations administered the remaining contributions. In reviewing a sample of contribution transactions, we noted (1) the Contributions Committee did not review numerous transactions as required by policy and (2) several transactions, including $160,580 in purchasing card payments that appeared to be contributions, were charged to incorrect cost classifications. Also, TVA's Contribution Tracking System is not reconciled and may not reflect all TVA contributions. Management agreed with the findings and has taken or plans to take appropriate corrective actions.<br><br>
