An Analysis of the Florida Municipal Power Agency Audit
The Florida Municipal Power Agency (FMPA) was established in 1978 to provide competitively priced, reliable power and value-added services for its member municipalities. Concern over higher rates has caused some FMPA member municipalities to “break ranks” in pursuit of lower power rates. Member municipalities wishing to terminate their participation in FMPA projects have experienced difficulties exiting their FMPA contracts.
After careful review and consideration of the Auditor General’s final audit report (Report No. 2015- 165), FMPA’s annual reports, FMPA’s financial statements for the past ten years (from the fiscal year ending September 30, 2005 to the most recent fiscal year ending September 30, 2014), and other relevant information, Florida TaxWatch offers the conclusions and recommendations in this report to improve the oversight and accountability of FMPA, and to make the activities of the FMPA more transparent to the taxpayers.