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EMD-81-16 1 (1980-11-25)

handle is hein.gao/gaobabbge0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 DEGY AND MINIRALS NOVEMBER 25, 1980 DIVISION B-200760 Mr. S. David Freeman N I Chairman, Board of Directors Tennessee Valley Authority 113850 Dear Mr. Chairman: Subject: Tinnessee Valley Authority Needs A Written Policy On The Use Of Power System Revenues For Research, Development, and Demonstrationi (EMD-81-16) We recently began an evaluation of the Tennessee Valley Authority's (TVA's) Office of Power research, development, and demonstration (RD&D) programs. One objective was to compare TVA's overall level of RD&D expenditures with that of investor- owned utilities. According to Office of Power officials, TVA has an informal policy that limits expenditures of power funds for RD&D to no more than 2 percent of annual gross power sys- tem revenues. That level of expenditures would place TVA among the utility industry leaders in RD&D spending. The informal 2-percent policy apparently was established during budget review meetings between the Board and Office of Power staff. However, at the time of our review, office of Power officials were uncertain about the criteria for identi- fying all expenditures that are subject to the 2-percent ceiling. It does not appear that the 2-percent ceiling has been exceeded, but we believe that TVA needs to-establish a formal policy on what level of expenditures TVA will make for RD&D and what constitutes those expenditures. We therefore re- commend the Board present in a written policy --the level of power funds TVA is willing to spend annu- ally on RD&D, (005208) 7 :1 ,l /

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