LOS ANGELES : Tuttle Calls for Audit of Regional Utility Agency
City Controller Rick Tuttle called Wednesday for an audit of a regional utility agency with $3.7 billion in bond debt for which the city is partially liable.
An audit of the Southern California Public Power Authority would coincide with ongoing efforts to streamline the Department of Water and Power, Tuttle said in a letter to the City Council.
“I urge the council to take swift and aggressive action to assure the public . . . that the city’s investments and involvements with SCPPA and other joint powers authorities are consistent with other city policies and best practices,” Tuttle said.
DWP board President Dennis Tito could not be reached for comment.
The Pasadena-based SCPPA was created in 1980 to acquire reliable, cost- efficient electrical generation facilities and transmission systems for its 11 member agencies.
Tuttle is concerned about the lack of city oversight because SCPPA’s bond debt is backed by the fiscal strength of its members. He estimated the city’s share of the debt amounts to $1.4 billion.
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