NORWICH, CT – DECEMBER 28, 2018 – The Connecticut Municipal Energy and Electric Cooperative (“CMEEC”) today released the results of the forensic examination report conducted by outside auditors of the organization’s revenues and expenditures for fiscal years 2013-2017. The examination was conducted by CohnReznick LLP and included a review of CMEEC’s compliance with Connecticut statutory requirements and CMEEC’s By-Laws. The full report has been posted on CMEEC’s website and provided to its members, and it will be provided to the Connecticut General Assembly as part of CMEEC’s annual report filing.
Included in the report are CohnReznick’s findings and recommendations, and the responses provided by CMEEC’s management. The responses (Exhibit V) provide additional context and outline a number of actions CMEEC has taken to strengthen its internal controls, including:
Interim CEO Mike Lane commented, “The completion of this examination by CohnReznick marks an important step forward for CMEEC. The findings and recommendations relate in large measure to the Board retreat and event expenditures that have previously been identified. CMEEC has and continues to put in place new rules and policies to strengthen our internal controls and ensure we are always acting in a way that is consistent with our mission to provide reliable, low cost energy solutions to our members and customers.”
Download the full report HERE.