Home
Solutions
Products
Pricing
Resources
Request Demo
Start Free
Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo
StateStorm

Weekly Updates

LegiStorm is constantly adding new information on the people, places and reports in our database. In the past week, LegiStorm added:

  • 1865 new people
  • 34 new organizations
  • 622 new photos
  • 1247 job history records for people in our database
  • 518 education records for people in our database
  • 2209 contact addresses, emails and URLs (LinkedIn, Facebook, etc.)
  • 198 new policy reports
  • 12 new trips to our privately funded travel database
  • 921 new personal financial disclosures
  • 27459 new press releases
  • 30 new town halls

Caught Our Eye Rss

» More from Caught Our Eye
» More from our DevBlog

Financial Management: TVA Expenses and Deductions

  Premium   Download PDF Now (6 pages)
Report Type Reports and Testimonies
Report Date Feb. 2, 1977
Report No. EMD-77-14
Subject
Summary:

The accuracy and integrity of TVA's accounting procedures and financial statements for fiscal year 1976 were questioned, and the reasons why TVA's net income dropped from $163.2 million on March 31, 1976, to $126.1 million by yearend were investigated.

TVA's fuel expense exceeded budget expenses by about $15.9 billion. The unit cost of power generated was higher than budgeted, accounting for about $5.3 million of the overrun. Another $10.6 million of unbudgeted fuel expense resulted from a higher than anticipated coal inventory shortage. Purchased power expenses exceeded budgeted expense by $50.7 million. Maintenance expenses during the fourth quarter exceeded budget estimates by about $20.9 million. This overrun was attributable to difficulties in estimating repair costs and stepped-up maintenance at coal fired steamplants. It was noted that increases in the cost of fuel and purchased power are billed to consumers two months after costs are incurred.

« Return to search Government Accountability Office reports

HomeAbout Us Contact UsPrivacy PolicyTerms of UseJoin Us
© LegiStorm
LegiStorm
2101 L St. NW, Suite 300
Washington, DC 20037
(202) 360-4172 / congress@legistorm.com