Financial management in the oil-shale program
Technical Report
·
OSTI ID:6401919
Auditors found that substantial improvements are needed in the financial management of the major project in the Department of Energy's (DOE) Oil-Shale Program. The Department's Laramie Energy Technology Center did not have an adequate accounting system to provide accurate information on the financial status of the cooperative project with the Occidental Oil Shale Corporation. Findings concerned: need for an accounting system that provides accurate information on the amount of money paid out; need for a system for tracking project costs; insufficient funding for work obligated by the Laramie Technical Project Officer; crediting revenue received from oil sales; DOE credits for oil sales; arrangements for the purchase of the product oil separated from the Cooperative Agreement; monitoring of the project's cost and schedule; reporting variance analysis of financial information; cost proposals and vouchers insufficintly detailed; DOE notification of anticipated significant deviations from the current cost plan; ambiguous responsibility for paying for any cost overruns; and property control records not adequatly reflecting DOE's interest in fixed assets purchased under the Cooperative Agreement. Comments on the draft report containing proposed corrective actions are appended. (PSB)
- Research Organization:
- Department of Energy, Washington, DC (USA). Office of Inspector General
- OSTI ID:
- 6401919
- Report Number(s):
- DOE/IG-125; ON: DE83006323
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
04 OIL SHALES AND TAR SANDS
040000* -- Oil Shales & Tar Sands
29 ENERGY PLANNING, POLICY, AND ECONOMY
294004 -- Energy Planning & Policy-- Oil Shales & Tar Sands
99 GENERAL AND MISCELLANEOUS
990100 -- Management
ACCOUNTING
COOPERATION
DATA
ECONOMICS
ERRORS
EXPENDITURES
FINANCIAL DATA
IN-SITU PROCESSING
INDUSTRIAL PLANTS
INFORMATION
LARAMIE ENERGY TECHNOLOGY CENTER
MANAGEMENT
NATIONAL ORGANIZATIONS
OIL SHALE PROCESSING PLANTS
PROCESSING
PROGRAM MANAGEMENT
US DOE
US DOE FIELD OFFICES
US ORGANIZATIONS
040000* -- Oil Shales & Tar Sands
29 ENERGY PLANNING, POLICY, AND ECONOMY
294004 -- Energy Planning & Policy-- Oil Shales & Tar Sands
99 GENERAL AND MISCELLANEOUS
990100 -- Management
ACCOUNTING
COOPERATION
DATA
ECONOMICS
ERRORS
EXPENDITURES
FINANCIAL DATA
IN-SITU PROCESSING
INDUSTRIAL PLANTS
INFORMATION
LARAMIE ENERGY TECHNOLOGY CENTER
MANAGEMENT
NATIONAL ORGANIZATIONS
OIL SHALE PROCESSING PLANTS
PROCESSING
PROGRAM MANAGEMENT
US DOE
US DOE FIELD OFFICES
US ORGANIZATIONS