Financial Statement Audit Report: DOE-OIG-18-34

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May 25, 2018

Department of Energy Nuclear Waste Fund’s Fiscal Year 2017 Financial Statement Audit

This report presents the results of the independent certified public accountants’ audit of the balance sheets of the Department of Energy Nuclear Waste Fund (Fund), as of September 30, 2017, and 2016, and the related statements of net cost, changes in net position, and statements of budgetary resources for the years then ended.

To fulfill Office of Inspector General audit responsibilities, we contracted with the independent public accounting firm of KPMG LLP to conduct the audit, subject to our review.  KPMG LLP concluded that the combined financial statements present fairly, in all material respects, the respective financial position of the Fund as of September 30, 2017, and 2016, and its net costs, changes in net position, and budgetary resources for the years then ended, in conformity with United States generally accepted accounting principles.

As part of this review, KPMG LLP also considered the Fund’s internal controls over financial reporting and tested for compliance with certain provisions of laws, regulations, contracts, and grant agreements that could have a direct and material effect on the determination of financial statement amounts.  The results of their review disclosed no instances of noncompliance or other matters required to be reported under generally accepted Government auditing standards or applicable Office of Management and Budget guidance.

The Office of Inspector General recently issued a report, Inquiry into an Alleged Anti-Deficiency Act Violation at the Department of Energy (DOE-OIG-18-29), on allegations related to a potential Anti-Deficiency Act violation from the over-obligation of approximately $16 million related to the apportionment of funding for a specific Department of Energy program.  A final determination has not yet been made, and therefore, the outcome of the matter is not presently known.  However, while the allegations did not affect the balance sheets of the Fund, the timing of the allegations and related work ultimately resulted in delaying the issuance of the Department of Energy Nuclear Waste Fund’s Fiscal Year 2017 Financial Statement Audit and The Department of Energy’s Fiscal Year 2017 Consolidated Financial Statements.

Topic: Management & Administration