November 16, 2020
Department of Energy Nuclear Waste Fund’s Fiscal Year 2020 Financial Statement Audit
The attached report presents the results of the independent certified public accountants’ audit of the balance sheets of the Department of Energy Nuclear Waste Fund, as of September 30, 2020, and 2019, and the related statements of net cost, changes in net position, and statements of budgetary resources for the years then ended.
To fulfill the Office of Inspector General’s audit responsibilities, we contracted with the independent public accounting firm of KPMG LLP to conduct the audit, subject to our review. KPMG LLP is responsible for expressing an opinion on the Nuclear Waste Fund’s financial statements and reporting on applicable internal controls, and compliance with laws and regulations. The Office of Inspector General monitored audit progress and reviewed the audit report and related documentation. This review disclosed no instances where KPMG LLP did not comply, in all material respects, with generally accepted Government auditing standards. The Office of Inspector General did not express an independent opinion on the Nuclear Waste Fund’s financial statements.
KPMG LLP concluded that the combined financial statements present fairly, in all material respects, the respective financial position of the Nuclear Waste Fund as of September 30, 2020, and 2019, and its net costs, changes in net position, and budgetary resources for the years then ended, in accordance with United States generally accepted accounting principles.
As part of this review, auditors also considered the Nuclear Waste 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 audit did not identify any deficiency in internal control over financial reporting that is considered a material weakness. Additionally, the results of the auditors’ review disclosed no instances of noncompliance or other matters required to be reported under Government Auditing Standards or applicable Office of Management and Budget guidance.
Topic: Management and Administration