Western Area Power Administration. Combined power system financial statements

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Description

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 ... continued below

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75 p.

Creation Information

Creator: Unknown. February 26, 1998.

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This report is part of the collection entitled: Office of Scientific & Technical Information Technical Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. More information about this report can be viewed below.

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Description

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.

Physical Description

75 p.

Notes

OSTI as TI98003329

Source

  • Other Information: PBD: 26 Feb 1998

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  • Other: TI98003329
  • Report No.: WR-FC--98-03
  • DOI: 10.2172/572681 | External Link
  • Office of Scientific & Technical Information Report Number: 572681
  • Archival Resource Key: ark:/67531/metadc694344

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Office of Scientific & Technical Information Technical Reports

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Creation Date

  • February 26, 1998

Added to The UNT Digital Library

  • Aug. 14, 2015, 8:43 a.m.

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  • June 22, 2016, 2:59 p.m.

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Western Area Power Administration. Combined power system financial statements, report, February 26, 1998; United States. (digital.library.unt.edu/ark:/67531/metadc694344/: accessed August 22, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.