Western Area Power Administration. Combined power system financial statements
Abstract
This report presents the results of the independent certified public accountants` audit of the Western Area Power Administration`s combined power system statements of assets, Federal investment and liabilities, and the related combined statements of revenues, expenses and accumulated net revenues, and cash flows. The auditors` report on Westerns internal control structure disclosed three new reportable conditions concerning the lack of: (1) a reconciliation of stores inventory from subsidiary ledgers to summary financial information, (2) communication of interest during construction and related adjustments to interest on Federal investment, and (3) a system to prevent and detect power billing errors. None of the conditions were considered to be material weaknesses. Western provided concurrence and corrective action plans. The auditors` report on Western`s compliance with laws and regulations also disclosed two new instances of noncompliance. Western failed to calculate nonreimbursable expenses in accordance with the Grand Canyon Protection Act and had an unexplained difference in gross Federal investment balances used to calculate interest on Federal investment. Western provided concurrence and corrective action plans for the instances.
- Publication Date:
- Research Org.:
- USDOE Western Area Power Administration, Washington, DC (United States)
- Sponsoring Org.:
- USDOE Office of Inspector General, Washington, DC (United States)
- OSTI Identifier:
- 572681
- Report Number(s):
- WR-FC-98-03
ON: TI98003329; NC: NONE; TRN: 98:001387
- Resource Type:
- Technical Report
- Resource Relation:
- Other Information: PBD: 26 Feb 1998
- Country of Publication:
- United States
- Language:
- English
- Subject:
- 99 MATHEMATICS, COMPUTERS, INFORMATION SCIENCE, MANAGEMENT, LAW, MISCELLANEOUS; WESTERN AREA POWER ADMINISTRATION; COMPLIANCE AUDITS; VIOLATIONS; FINANCIAL DATA
Citation Formats
. Western Area Power Administration. Combined power system financial statements. United States: N. p., 1998.
Web. doi:10.2172/572681.
. Western Area Power Administration. Combined power system financial statements. United States. https://doi.org/10.2172/572681
. 1998.
"Western Area Power Administration. Combined power system financial statements". United States. https://doi.org/10.2172/572681. https://www.osti.gov/servlets/purl/572681.
@article{osti_572681,
title = {Western Area Power Administration. Combined power system financial statements},
author = {},
abstractNote = {This report presents the results of the independent certified public accountants` audit of the Western Area Power Administration`s combined power system statements of assets, Federal investment and liabilities, and the related combined statements of revenues, expenses and accumulated net revenues, and cash flows. The auditors` report on Westerns internal control structure disclosed three new reportable conditions concerning the lack of: (1) a reconciliation of stores inventory from subsidiary ledgers to summary financial information, (2) communication of interest during construction and related adjustments to interest on Federal investment, and (3) a system to prevent and detect power billing errors. None of the conditions were considered to be material weaknesses. Western provided concurrence and corrective action plans. The auditors` report on Western`s compliance with laws and regulations also disclosed two new instances of noncompliance. Western failed to calculate nonreimbursable expenses in accordance with the Grand Canyon Protection Act and had an unexplained difference in gross Federal investment balances used to calculate interest on Federal investment. Western provided concurrence and corrective action plans for the instances.},
doi = {10.2172/572681},
url = {https://www.osti.gov/biblio/572681},
journal = {},
number = ,
volume = ,
place = {United States},
year = {Thu Feb 26 00:00:00 EST 1998},
month = {Thu Feb 26 00:00:00 EST 1998}
}