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Related Parties
12 Months Ended
Sep. 30, 2011
Related Party Transactions [Abstract] 
Related Parties
Related Parties

TVA is a wholly-owned corporate agency of the federal government, and because of this relationship, TVA’s revenues and expenses are included as part of the federal budget.  TVA’s purpose and responsibilities as an agency are described under the “Other Agencies” section of the federal budget.

TVA currently receives no appropriations from Congress and funds its business using power system revenues, power financings, and other revenues.  TVA is a source of cash to the federal government.  TVA must repay $50 million of the Power Program Appropriation Investment, and then pay a return on the outstanding balance of this investment indefinitely.  See Note 15 — Appropriation Investment.

TVA also has access to a financing arrangement with the U.S. Treasury pursuant to the TVA Act.  TVA and the U.S. Treasury entered into a memorandum of understanding under which the U.S. Treasury provides TVA with a $150 million credit facility.  This credit facility matures on September 30, 2012, and is expected to be renewed.  Access to this credit facility or other similar financing arrangements has been available to TVA since the 1960s.  See Note 11 — Credit Facility Agreements.

In the normal course of business, TVA contracts with other federal agencies for sales of electricity and other services.  Transactions with agencies of the federal government were as follows:
Related Party Transactions
For the years ended, or at, September 30
 
2011
 
2010
 
2009
Sales of electricity services
$
130

 
$
116

 
$
127

Other revenues
104

 
99

 
134

Other expenses
295

 
263

 
250

Cash
2

 
2

 
1

Receivables
84

 
26

 
19

Investments
25

 
225

 
25

Payables
175

 
129

 
133

Return on Power Program Appropriation Investment
7

 
9

 
13

Repayment of Power Program Appropriation Investment
20

 
24

 
20