Office of the Inspector General Semiannual Report - Spring 2024

We are pleased to present our report for the period October 1, 2023, to March 31, 2024. Serving in our oversight role, the Office of the Inspector General continues to identify risks to operations, ways to save or recover money, make recommendations to improve operations, and prevent and detect fraud, waste, and abuse. In this semiannual period, our audit, evaluation, and investigative activities identified more than $13 million in questioned costs; recoveries, fees, and fines; waste/other monetary loss; and opportunities for Tennessee Valley Authority (TVA) to improve its programs and operations.TVA has a deep and rich history of building power generating assets to electrify the Tennessee Valley. At its inception, river systems were harnessed and electricity was provided by TVA built dams. As industry and populations grew, TVA kept pace with the increasing power demands with massive construction programs, including the building of 11 coal-fired power plants during the 1950s and 1960s and six nuclear power units in the 1970s and 1980s. TVA’s ability to provide low-cost electricity while facing changing circumstances and expectations with and increasingly diverse portfolio has served the people of the Valley well for the past 90 years.