April 6, 2016

Western Federal Power System’s Fiscal Year 2015 Financial Statement Audit

This report presents the results of the independent certified public accountants’ audit of the Western Federal Power System’s (Western) combined balance sheets, as of September 30, 2015 and 2014, and the related combined statements of changes in capitalization, revenues and expenses, and cash flows for the years then ended.

To fulfill the Office of Inspector General’s (OIG) audit responsibilities, we contracted with the independent public accounting firm of KPMG LLP (KPMG) to conduct the audit, subject to our review.  KPMG is responsible for expressing an opinion on Western’s financial statements and reporting on applicable internal controls and compliance with laws and regulations.  

KPMG concluded that the combined financial statements present fairly, in all material respects, the respective financial position of Western as of September 30, 2015 and 2014, and the results of its operations and its cash flow for the years then ended, in conformity with United States generally accepted accounting principles.

Topic: Management & Administration