Laserfiche WebLink
Peter D. O'Bryan <br />Chairman <br />District 4 <br />Wesley S. Davis <br />Vice Chairman <br />District 1.. <br />BOARD OF COUNTY COMMISSIONERS <br />May 15, 2014 <br />The Honorable Rick Scott, Governor <br />The Office of the Governor — The Capitol <br />400 S. Monroe Street <br />Tallahassee, FL 32399-0001 <br />Dear Governor Scott, <br />5-13-I�t <br />. <br />IofZ <br />eZt <br />Joseph E. Flescher <br />District 2 <br />Tim Zorc <br />District 3 <br />Bob Solari <br />District 5 <br />As you are examining the $77.1 billion budget approved by the Florida Legislature, as <br />Chair of the Indian River County Board of County Commissioners, 1 respectfully request that <br />you maintain the appropriation of $200,000 for the Auditor General to conduct a full audit of <br />those entities created under Section 361 10, Florida Statutes. This appropriation will have a <br />significant benefit for many citizens in Indian River County, Indian River Shores and Vero <br />Beach, by requiring a financial review of the Florida Municipal Power Agency, which has been <br />burdening many citizens in our community with high electric rates. <br />Please be aware that this audit should not simply require the Auditor General to <br />duplicate the annual financial audit already prepared for the Florida Municipal Power Agency. <br />This audit needs to measure the Florida Municipal Power Agency's true economic value and <br />member equity. Florida Municipal Power Agency's assets must be marked to market so that <br />the members, such as the City of Vero Beach, can understand the value of the assets that they <br />actually own. <br />I believe that such an audit must consider the limitations imposed by Florida Municipal <br />Power Agency on its members that in essence bind the municipalities to the Florida Municipal <br />Power Agency forever, thus making such assets worthless. These municipalities should have a <br />realistic ability to terminate membership in the Florida Municipal Power Agency. In order to <br />accomplish this goal, members need a transparent process for the valuation of these power <br />producing assets. <br />Thank you for your support of this appropriation for this audit which will help our citizens <br />better understand the financial ramifications of the Florida Municipal Power Agency. <br />S'* -rely, <br />Peter D. O'Bryan, Chairman <br />Indian River County <br />Board of Commissioners <br />1801 2Th Street, Building A <br />Vero Beach, FL 32960 <br />(772) 226-1490 <br />