Hawaii Public Utilities Commission - Young Brothers Ltd. - Delivering The Best - Munro Tulloch Management Audit 2021 - No Party Completely Blameless - Moving Onward and Forward
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Hawaii Public Utilities Commission - Young Brothers Ltd. - Delivering The Best - Munro Tulloch Management Audit 2021 - No Party Completely Blameless - Moving Onward and Forward
1. FAIRNESS
<https://www.npr.org/about-npr/688177789/fairness>
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__________________________________________
MURO TULLOCH
Young Brothers Management Audit Final Report
September 9, 2021
<https://dms.puc.hawaii.gov/dms/DocumentViewer?pid=A1001001A21I09B60842J00162>
The company was fully engaged in the process and made the requested data, as weh as key
staff, available to us throughout the process.
The company should be recognized for being open with the Audit team and for devoting a
significant amount of executive and management time to meet with us. There remain
disagreements between the Audit team and YB leadership regarding the core structural
business issues and potential improvement strategies.
However, after extensive discussions, we were able to find common ground on a number of
actions that we believe will improve operations. [Page 15]
2. Our audit revealed that there is no silver bullet or single lever that can be pulled to drive large
cost savings. Similar to the approach adopted bymostmature businesses, itis necessary to
diligently review all processes and all cost drivers on a continuous basis, to identify
opportunities for efficiencies. We have also found, that once initial improvements have been
exhausted, it may be necessary to make more dramatic process changes in the business
delivery model, to find the next level ofimprovements. Efficiency is a journey, not a
destination. [Page 174]
No parties are blamelessin this situation. While the audit has recommended a number of
actions that should be taken to contain costs and improve performance, absent significant
changes in approach by all stakeholders, it is our considered opinion that it is highly possible
that the company could find itself in a similar liquidity situation within 2-3 years.
[Pages 188, 189; Emphasis In Original]
YB is sincerely appreciative for the auditor's work, including the efforts to identify proposed
solutions. As suggested by the auditor, the company is in the process of implementing a
strategic initiative to understand every dollar of the company’s cost and to use that
understanding to reduce and control those costs; this initiative will be further developed and
detailed in YB's new 5-year strategic plan. As set forth in the company's mission statement,
YB remains committed to its community, customers, and partners and strives to contribute to
their success and long-term sustainability. [Page 204]
The Audit Team sincerely appreciates the company's recognition of the thoroughness of the
work performed by the audit team. We also realize that the execution ofthe audit was time
consuming and stressful for the company as our findings and recommendations have forced
them to address difficult issues. We are encouraged by the stated overall acceptance by the
company of the urgent need to address operational improvements and cost containment
initiatives. However we consider it a much greater compliment to the abilities and the quality
of work by our team that the company appears now to have made a commitment to examine in
detail their costs and to take appropriate action to reduce and control these costs. In our view
that is the most critical and urgent activity the company can undertake to demonstrate its
commitment to all stakeholders and must be prioritized. YB states that it remains committed
to its community, customers, and partners and strives to contribute to their success and long-
term sustainabiity. Adoption of the recommendations and actions contained in this audit
report, as well as a renewed focus on the core regulated business activities to ensure services
remain both sustainable and affordable, will be the most transparent and effective
demonstration to all stakeholders of a genuine commitment to improvement by the company.
[Pages 204, 205]
For this proposal we assembled a very strong consulting team with expertise in: [Page 216]
• Business Strategy
• Executive Governance
• Hawaii Utility Regulatory Environment
• Business Operational Performance
Improvement
• Labor Relations and Agreements
• Forensic Accounting
• Logistic Operations and Strategy
• Management Auditing
• Customer Service
• Intercompany and affiliate accounting
practices