High Cost Study - VUSF Audit Report

As directed by Act 169, as it added subsection 30 V.S.A. § 7515(b)(8), the PSD released the VUSF Audit Report portion of its High Cost Study, titled QSI VUSF Audit Report: Assessment of the Vermont Universal Service Fund, on May 3, 2013.  The Department, in conjunction with the Public Service Board, contracted the firm QSI Consulting, Inc. (“QSI”) to conduct the audit and prepare a report on the Vermont Universal Service Fund ("VUSF").  QSI's audit report details the management audit performed by QSI to: (1) analyze the Fiscal Agent's administration practices; (2) examine telecommunications service provider practices of collecting VUSF surcharges from their retail telecommunications customers; (3) test the accuracy of VUSF surcharge remittances made by telecommunications service providers to the Fiscal Agent and the Fiscal Agent's accounting of those remittances; and (4) review the Fiscal Agent's practices and procedures involving the disbursement of VUSF monies to the authorized programs funded by the VUSF.