Report on Audit of Southeastern Power System and Related Activities, Corps of Engineers (Civil Functions) and Southeastern Power Administration, Fiscal Years 1961, 1962, and 1963

GAO has made an audit of the power-generating and related activities of the Corps of Engineers (Civil Functions), Department of the Army, and the power-marketing activities of the Southeastern Power Administration, Department of the Interior, in the southeastern area of the United States, for fiscal years 1961, 1962, and 1963. We issued this report to advise the Congress of the actions taken on the recommendations in our prior reports, the status of repayment of the Federal investment allocated to power, and our opinion of the financial statements of the Southeastern Power System.The financial statements included in this report were prepared by GAO, as in past years, from the records of the Southeastern Power Administration and the Corps of Engineers. The continued preparation of combined states is desirable in order to disclose fully on an integrated system basis, for the information of the Congress, the President of the United States, and the public, the financial position and the result of operations of the Southeastern Power System. In our opinion, however, the preparation of the combined financial statements is more properly a function of the executive branch of the Federal Government.