Federal Reports

The report summarizes the FTC OIG’s activities and accomplishments during the first half of the FY 2018 reporting period.

During this period, we issued 16 audits and other reports that contained recommendations to improve Department programs and operations. In addition, we closed 39 investigations involving fraud or corruption, securing more than $18.5 million in restitution, settlements, fines, recoveries, forfeitures, and savings. As a result of this work, criminal actions were taken against a number of people, including current and former school officials and service providers who cheated students and taxpayers

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This report contains information about recommendations from the OIG’s audits, evaluations, and reviews that the OIG had not closed as of the specified date because it had not determined that the Department of Justice had fully implemented them. The information omits recommendations that the Department of Justice determined to be classified or sensitive, and therefore unsuitable for public release.The status of each recommendation was accurate as of the specified date and is subject to change. Specifically, a recommendation identified as not closed as of the specified date may subsequently have been closed.

As a follow-up to an audit of a contractor where the Tennessee Valley Authority (TVA) missed early payment discount opportunities of $1,029,965, we audited TVA’s management of early payment discounts on vendor invoices. Early payment discounts are offered by some contractors for payments made prior to the due dates on invoices. Our audit objective was to determine if early payment discounts are appropriately managed by TVA. Our scope included invoices from Supply Chain contracts and purchase orders with greater than $1 million in spending in any one fiscal year from October 1, 2014, through July 31, 2017. We found TVA’s management of early payment discounts needs improvement. TVA missed early payment discount opportunities of $932,340 out of $4,879,957 in early payment discounts available during our audit period. We also found early payment discount terms were generally entered accurately into TVA’s Maximo system utilized to process and approve invoices. However, we noted a few exceptions where Maximo’s payment terms did not accurately reflect the contractual payment terms.

Our objective was to determine if the U.S. Postal Service properly managed, funded, and executed its Innovation Pool Fund (Pool) in agreement with contractual terms.