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AIMD-00-81R 1 (2000-02-25)

handle is hein.gao/gaobacnof0001 and id is 1 raw text is: I GAO A.c u tabiity * Integrity * Reliability United States General Accounting Office Accounting and Information Washington, DC 20548 Management Division B-283368 February 25, 2000 The Honorable Kenneth M. Mead Inspector General Department of Transportation Subject: GAO Report on Applying Agreed-Upon Procedures: Airport and Airway Trust Fund Excise Taxes Dear Mr. Mead: We have performed the procedures contained in enclosure 1 to this letter, which we agreed to perform and to which you concurred, solely to assist your office in ascertaining whether the net excise tax revenue distributed to the Airport and Airway Trust Fund (AATF) for the fiscal year ended September 30, 1999, is supported by the underlying records. As agreed upon with your office, we evaluated fiscal year 1999 AATF activity. In performing the agreed-upon procedures, we conducted our work in accordance with generally accepted government auditing standards, which incorporate financial audit and attestation standards established by the American Institute of Certified Public Accountants (AICPA). These standards also provide guidance when performing and reporting the results of agreed-upon procedures. The adequacy of the procedures to meet your objectives is your responsibility, and we make no representation in that respect. The procedures we agreed to perform include (1) detailed tests of transactions that represent the underlying basis of amounts distributed to AATF, (2) review of the Internal Revenue Service's (IRS) quarterly AATF certifications, (3) review of the Department of the Treasury Financial Management Service adjustments to AATF for fiscal year 1999, (4) review of the Office of Tax Analysis (OTA) process for estimating amounts to be distributed to AATF for the fourth quarter of fiscal year 1999, (5) comparison of net excise tax distributions to AATF during fiscal year 1999 and amounts reported in the financial statements prepared by the Bureau of Public Debt for AATF and the Federal Aviation Administration's consolidated financial statements, and (6) review of key reconciliations of IRS records to Treasury records. Enclosure 1 contains the agreed- upon procedures and our findings from performing each of them. GAO/AIMD-00-81R Airport and Airway Trust Fund Excise Tax Procedures