Utility Bill Auditing – When All That Glitters Is Not Gold
On September 8, 2014, the Department of Defense issued a report addressing the agency’s dissatisfaction with the findings of a recent energy audit at Fort Knox, Kentucky. Although the report is over 49 pages in length, the findings listed in the shaded box below (taken directly from the report) says it all.
The question that emerges is a natural one: If the United States Government’s internal controls personnel and subsequent auditing team were unable to identify, reconcile and recover overcharges, misappropriated funds and possible fraud, do you think your company or your team can do so?
Rather than just feeling angered (who wouldn’t be angry to see $270 million in taxpayer dollars render inadequate results) citizens, particularly business executives, should take a lesson from the Government’s loss. Here’s the simple but absolute truth: Most accounting and auditing personnel lack the expertise required to undertake a utility bill audit because these reviews require an extremely unique and specialized skill set.
The majority of utility bills are comprised of hundreds of components…some visible but many computed beforehand and displayed as one-line entries. That’s why it takes a highly-trained, respected, and proven team of professionals to get the job done. Sure, there are several utility bill auditing companies out there, but they are not all the same. As with any other important undertaking, selecting a competent and trusted utility bill auditing service requires due diligence on the part of the company seeking services.
Orpical Energy’s Utility Bill Auditing Team brings not only years of outstanding experience and substantiated successful outcomes, but also a pledge to validate and warrant its findings. We take a comprehensive approach to reviewing each bill, leaving no area unexamined. For example:
- We will apply our expertise in rate analysis to review all the factors affecting your billing rate. In actuality, using rate analysis alone fails to address possible overcharges as well as other important factors that affect your bill.
- We will conduct a thorough review of your energy usage practices to determine the most applicable tariff rates. In addition, we will also institute monitoring procedures to facilitate the timely identification of rate changes.
- By establishing a detailed understanding of your business, we can investigate and initiate any utility associated tax exemptions to which you may be entitled. This is a well warranted process, because these exemptions can amount to significant savings.
- Since we provide services on a national level, we can bring an informed perspective to navigating utility markets and regulatory commissions throughout the country. This information affords us yet another opportunity to ensure that your bill is compiled as accurately as possible.
- We will incorporate our expert knowledge and mediation skills to mitigate any areas of dissatisfaction and negotiate the best pricing paradigms for your operation.
- Through an amalgamation of our industry knowledge and that pertaining to your particular business, we will design and recommend utility-related budgetary strategies to ensure accurate billing, enhanced services and cost savings in the future.
- Finally, we will provide a thorough report documenting the full scope of our engagement, findings and recommendations.
In fact, we at Orpical Energy’s Utility Auditing Services are so confident in our abilities, that we conduct our audits using a contingency based model. Therefore, we request no money until your savings are identified and reimbursed. Simply supply us with one month’s utility bills. Within 48 hours of receiving them, we will know if your business is a candidate for an audit. If we determine that you are at risk, we will request additional bills and proceed with a comprehensive forensic audit to identify, resolve and recover overcharges and institute future savings initiatives.
We’re not sure if there is or isn’t any gold in Fort Knox, but when it came to this project discussed in this report, someone definitely dropped the ball on Bullion Boulevard.