On October 1, 2012, USAC submitted their Semi-Annual Audit Report to the Federal Communications Commission. As required by the FCC’s Fifth Report and Order, USAC must submit a semi-annual report to the FCC summarizing the status of all outstanding audit findings. The report details the process USAC utilizes to recover improperly disbursed funds, and also provides a summary of audits that may lead to the recovery of previously committed funds.
Highlights from the report include:
1,139 Audits have been conducted
Total Disbursed Amount Audited: $2.9 Billion
Total Dollar Amount Recovered: $49.18 Million
Total Possible Recovery Amount: $284 Million