HomeMy WebLinkAbout2014-066APeter D. O'Bryan
Chairman
District 4
Wesley S. Davis
Vice Chairman
District 1..
BOARD OF COUNTY COMMISSIONERS
May 15, 2014
The Honorable Rick Scott, Governor
The Office of the Governor — The Capitol
400 S. Monroe Street
Tallahassee, FL 32399-0001
Dear Governor Scott,
5-13-I�t
.
IofZ
eZt
Joseph E. Flescher
District 2
Tim Zorc
District 3
Bob Solari
District 5
As you are examining the $77.1 billion budget approved by the Florida Legislature, as
Chair of the Indian River County Board of County Commissioners, 1 respectfully request that
you maintain the appropriation of $200,000 for the Auditor General to conduct a full audit of
those entities created under Section 361 10, Florida Statutes. This appropriation will have a
significant benefit for many citizens in Indian River County, Indian River Shores and Vero
Beach, by requiring a financial review of the Florida Municipal Power Agency, which has been
burdening many citizens in our community with high electric rates.
Please be aware that this audit should not simply require the Auditor General to
duplicate the annual financial audit already prepared for the Florida Municipal Power Agency.
This audit needs to measure the Florida Municipal Power Agency's true economic value and
member equity. Florida Municipal Power Agency's assets must be marked to market so that
the members, such as the City of Vero Beach, can understand the value of the assets that they
actually own.
I believe that such an audit must consider the limitations imposed by Florida Municipal
Power Agency on its members that in essence bind the municipalities to the Florida Municipal
Power Agency forever, thus making such assets worthless. These municipalities should have a
realistic ability to terminate membership in the Florida Municipal Power Agency. In order to
accomplish this goal, members need a transparent process for the valuation of these power
producing assets.
Thank you for your support of this appropriation for this audit which will help our citizens
better understand the financial ramifications of the Florida Municipal Power Agency.
S'* -rely,
Peter D. O'Bryan, Chairman
Indian River County
Board of Commissioners
1801 2Th Street, Building A
Vero Beach, FL 32960
(772) 226-1490