Financial Statement Audit Report: DOE-OIG-24-02

November 14, 2023

The Department of Energy Nuclear Waste Fund’s Fiscal Year 2023 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, 2023, and 2022, and the related statements of net cost, changes in net position, and combined 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 (KPMG) to conduct the audit, subject to our review.  KPMG 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 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 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, 2023, and 2022, and its net costs, changes in net position, and budgetary resources for the years then ended in accordance with U.S. 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 financial statements.  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.