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GAO-06-198R 1 (2005-11-04)

handle is hein.gao/gaocrptasgl0001 and id is 1 raw text is: Sai Accountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 November 4, 2005 The Honorable Kenneth M. Mead Inspector General Department of Transportation Subject: Applying Agreed-Upon Procedures: Highway Trust Fund Excise Taxes Dear Mr. Mead: We have performed the procedures contained in the enclosure to this report, which we agreed to perform and with which you concurred, solely to assist your office in ascertaining whether the net excise tax revenue distributed to the Highway Trust Fund (HTF) for the fiscal year ended September 30, 2005, is supported by the underlying records. As agreed with your office, we evaluated fiscal year 2005 activity affecting distributions to the HTF. In performing the agreed-upon procedures, we conducted our work in accordance with U.S. generally accepted government auditing standards, which incorporate financial audit and attestation standards established by the American Institute of Certified Public Accountants. These standards also provide guidance for 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 relate to (1) transactions that represent the underlying basis of amounts distributed to the HTF, (2) the Internal Revenue Service's (IRS) quarterly HTF certifications, (3) the Department of the Treasury's Financial Management Service adjustments to the HTF during fiscal year 2005, (4) IRS's precertification' of receipts for each quarter of fiscal year 2005, (5) certain procedures of the Department of the Treasury's Office of Tax Analysis's (OTA) process for estimating amounts to be distributed to the HTF for the fourth quarter of fiscal year 2005, and other procedures related to (6) the net amount of fiscal year 2005 excise taxes distributed to the HTF, (7) transactions that represent total IRS tax revenue receipts and refunds, and (8) reconciliations of IRS records to Treasury records. The enclosure contains the agreed-upon procedures and our findings and results from performing each of the procedures. 'To accommodate the Department of Transportation's accelerated reporting date for fiscal year 2005, IRS performed precertifications of excise tax collections. The data are for information purposes only and the precertification does not constitute an official certification. GAO-06-198R Highway Trust Fund Excise Tax Procedures