Southern Federal Power Program Combined Financial Statements, September 30, 1997 and 1996 with Independent Auditors' Report Thereon and Financial Overview and Program Performance PDF Download
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Languages : en
Pages : 38
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Book Description
The report presents the results of the independent certified public accountants' audit of the Southeastern Federal Power Program's (SEFPP) combined financial 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 SEFPP's internal control structure disclosed no new reportable conditions directed to the Southeastern Power Administration. However, the report did disclose a reportable condition directed to the Army Corps of Engineers (Corps). The reportable condition was regarding the conversion of the Corps' financial management system to a system that was not designed to properly account for the allocation of plant investment to multi-purpose projects. The Corps concurred with recommendations made to correct the deficiency. The auditors' report on SEFPP's compliance with laws and regulations disclosed no new instances of noncompliance. A noncompliance related to not recovering workers' compensation benefits in power rates reported in prior years remains uncorrected. Based on KPMG's unqualified opinion and the review of their audit work, the Office of Inspector General believes the financial statements fairly present the financial condition and results of operations of the SEFPP for the period under audit.
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Languages : en
Pages : 38
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Book Description
The report presents the results of the independent certified public accountants' audit of the Southeastern Federal Power Program's (SEFPP) combined financial 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 SEFPP's internal control structure disclosed no new reportable conditions directed to the Southeastern Power Administration. However, the report did disclose a reportable condition directed to the Army Corps of Engineers (Corps). The reportable condition was regarding the conversion of the Corps' financial management system to a system that was not designed to properly account for the allocation of plant investment to multi-purpose projects. The Corps concurred with recommendations made to correct the deficiency. The auditors' report on SEFPP's compliance with laws and regulations disclosed no new instances of noncompliance. A noncompliance related to not recovering workers' compensation benefits in power rates reported in prior years remains uncorrected. Based on KPMG's unqualified opinion and the review of their audit work, the Office of Inspector General believes the financial statements fairly present the financial condition and results of operations of the SEFPP for the period under audit.
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Languages : en
Pages :
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Book Description
The attached report presents the results of the independent certified public accountant's audit of the Department of Energy's Southeastern Federal Power Program (SEFPP) financial statements as of September 30, 1995. In the auditor's opinion, SEFPP's statements are fairly presented in all material respects in conformity with generally accepted accounting principles. Their reports on SEFPP's internal control structure and on compliance with laws and regulations are also provided. SEFPP has the responsibility for the Federal electric power production, transmission and disposition of Federal power marketed under the Flood Control Act of 1944 in ten southeastern states. Electricity marketed by SEFPP is generated in power facilities operated by the US Department of Defense, Army Corps of Engineers. Additional information about SEFPP is provided in the notes to the financial statements. The 1995 financial statement audit was made under provisions of the Inspector General Act (5 USC. App.), as amended, the Chief Financial Officer's (CFO) Act (31 USC. 1500), and Office of Management and Budget implementing guidance to the CFO Act. The auditor's work was conducted in accordance with generally accepted government auditing standards. To fulfill our audit responsibilities, we contracted with the independent public accounting firm of KPMG Peat Marwick (KPMG) to conduct the audit for us, subject to our review. The auditor's report on SEFPP's internal control structure disclosed four reportable conditions that require corrective action. The auditor also considered the overview and performance indicator data for completeness and material consistency with the basic financial statements as noted in the internal control report. Furthermore, the auditor's report on compliance with laws and regulations disclosed two material instances of noncompliance which require corrective action.
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Category :
Languages : en
Pages : 31
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This report presents the results of the independent certified public accountants' audit of the Southwestern Federal Power System's (SWFPS) combined power system statement of assets, Federal investment and liabilities, and the related combined statements of revenues, expenses and accumulated net revenues, and cash flows. The 1996 financial statement audit was made under the provisions of the Inspector General Act (5 U.S.C. App.), as amended, the Government Management Reform Act (31 U.S.C. 3515), and Office of Management and Budget implementing guidance. The auditors' work was conducted in accordance with generally accepted government auditing standards. To fulfill audit responsibilities, the Office of Inspector General contracted with the independent public accounting firm of KPMG Peak Marwick LLP (KPMG) to conduct the audit for them, subject to their review. The auditors' report on SWFP's internal control structure disclosed a reportable condition directed to the Southwestern Power Administration concerning a delay in properly classifying the value of plant assets. The report also included two reportable conditions directed to the Army Corps of Engineers regarding the inconsistent calculation of depreciation expense and the misallocation of multipurpose costs. None of these reportable conditions were considered to be material weaknesses. The auditors' report on SWFP's compliance with laws and regulations disclosed no new instances of noncompliance by Southwestern.
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Category :
Languages : en
Pages :
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Category :
Languages : en
Pages : 50
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The attached report presents the results of the independent certified public accountant's audit of the Department of Energy's Western Area Power Administration's (Western) combined financial statements as of September 30, 1994. The auditors have expressed an unqualified opinion on Western's 1994 statements. Their reports on Western's internal control structure and on compliance with laws and regulations are also provided. Western was established in December 1977, and has the responsibility for the Federal electric power marketing and transmission functions in 15 central and western states. Western markets power, as required by existing law, at the lowest possible rates consistent with sound business principles to recover the costs of operation and capital invested in power facilities.
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Category : Finance, Public
Languages : en
Pages : 24
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Category : Budget
Languages : en
Pages : 76
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Author:
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Category : Finance, Public
Languages : en
Pages : 100
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Category :
Languages : en
Pages :
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This report contains information on the Office of Inspector General audit of the Department's Consolidated Statement of Financial Position as of September 30, 1997.
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Category :
Languages : en
Pages : 53
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Book Description
The attached report presents the results of the independent certified public accountant's audit of the Department of Energy's Western Area Power Administration's (Western) combined financial statements as of September 30, 1995. The auditors have expressed an unqualified opinion on Western's 1995 statements. Their reports on Western's internal control structure and on compliance with laws and regulations are also provided.
