Alaska Power Administration Federal Power Program financial statements with supplementary information September 30, 1994 and September 30, 1993 with auditors` reports thereon

The attached report presents the results of our audit of the Department of Energy`s Alaska Power Administration (APA) financial statements as of September 30, 1994. In our opinion, the APA statements are fairly presented in all material respects in accordance with generally accepted accounting principles. our reports on the APA internal control structure and on its compliance with laws and regulations are also provided. The US Government, through the Department of Energy, operates APA at two sites to provide hydroelectric power to Juneau and Anchorage, Alaska. Additional information about APA is provided in the notes to the financial statements. The 1994 financial statement audit was made under provisions of the Inspector General Act (5 USC. App.), as amended, the Chief Financial Officers (CFO) Act (31 USC 1500) and the Office of Management and Budget implementing guidance to the CFO Act. The auditors` work was conducted in accordance with generally accepted government auditing standards