Agreed-Upon Procedures for TVA Fiscal Year 2023 Performance Measures

The Office of the Inspector General (OIG) performed the procedures, which were requested and agreed to by Tennessee Valley Authority 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, 2023. Tennessee Valley Authority management is responsible for the WP Measures data provided. In summary, procedures applied by the OIG found the:• FY 2023 WP goals for the enterprise measures were properly approved. • FY 2023 goals (target) for the corporate multiplier measures were properly approved. • Actual FY to-date results for the enterprise measures agreed with the underlying support, without exception.• Actual FY to-date results for the corporate multiplier measures agreed with the underlying support, without exception.• FY 2023 WP payout percentages provided by the Business Planning and Analysis organization on November 6, 2023, were mathematically accurate and agreed with the OIG’s recalculation.