Date Issued
Report Type
Semiannual Report
Description
We are pleased to present our report for the period October 1, 2024, to March 31, 2025. In this semiannual period, our audit, evaluation, and investigative activities identified more than $75.1 million in questioned costs; funds put to better use; restitutions, recoveries, fees, and fines; and opportunities for the Tennessee Valley Authority (TVA) to improve its programs and operations.
TVA’s mission of service was set forth in the TVA Act of 1933. While the mandate to provide affordable electricity, manage the river systems, and promote economic development in the Tennessee Valley has remained constant for 92 years, TVA has had to transform itself in areas such as methods of electricity generation, funding approaches, skills, technology, and more. Some transformations came about by opportunities like innovation, while others came about in reaction to constraints. Today, TVA finds itself in another stage of transformation as it addresses significant requirements to grow clean generation capacity. Our office will stand with TVA as we fulfill our mission to provide independent and objective oversight that promotes effective and efficient operations and prevents and detects fraud, waste, and abuse.
Joint Report
No
Agency Wide
Yes (agency-wide)
Questioned Costs
$665682
Funds for Better Use
$0