On March 31st USAC submitted their Semi-Annual Audit Report to the FCC for their review. Based on the FCC’s Schools and Libraries Fifth Order the report must summarize the status of all outstanding audit reports.
The report shows as of February 27th:
- To date, 695 audits have been performed; up 200 since the September 2008 Audit Report
- The total disbursed amount audited sets at $2.23 billion; up $350 million since last report
- The amount recovered to date is $16,235,795; up about $65,000 since last report
- The reported balance remaining to be recovered is $109,668,396; up $57 million since last report
USAC is spending in excess of $90 million annually and have hired 11 auditing firms to audit USF program beneficiaries which includes schools and libraries.
The USAC Report can be viewed here.