Applying Agreed-Upon Procedures: Fiscal Year 2008 Airport and Airway Trust Fund Excise Taxes Page: 1 of 15
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AGAO
Accountability * Integrity * Reliability
United States Government Accountability Office
Washington, DC 20548
November 3, 2008
The Honorable Calvin L. Scovel III
Inspector General
Department of Transportation
Subject: Applying Agreed-Upon Procedures: Fiscal Year 2008 Airport and Airway
Trust Fund Excise Taxes
Dear Mr. Scovel:
We have performed the procedures described in the enclosure to this letter, 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 Airport and Airway
Trust Fund (AATF) for the fiscal year ended September 30, 2008, is supported by the
underlying records. As agreed with your office, we evaluated fiscal year 2008 activity
affecting distributions to the AATF.
We conducted the engagement 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.
You are responsible for the adequacy of these agreed-upon procedures to meet your
objectives and we make no representation in that respect. The procedures we agreed
to perform were related to (1) transactions that represent the underlying basis of
amounts distributed to the AATF during fiscal year 2008, (2) the Internal Revenue
Service's (IRS) quarterly AATF receipt certifications during fiscal year 2008, (3) the
Department of the Treasury's Financial Management Service adjustments to the
AATF during fiscal year 2008, (4) the Department of the Treasury's Office of Tax
Analysis's (OTA) process for estimating excise tax amounts to be distributed to the
AATF for the fourth quarter of fiscal year 2008, (5) adjustments to the AATF for tax
on kerosene used in aviation during fiscal year 2008, and (6) the amount of net excise
taxes distributed to the AATF during fiscal year 2008. The enclosure provides more
detail on the agreed-upon procedures and our results.
We were not engaged to perform, and did not perform, an examination, the objective
of which would have been to express an opinion on the amount of net excise taxes
distributed to the AATF during fiscal year 2008. Accordingly, we do not express such
an opinion. Had we performed additional procedures, other matters might have come
to our attention that we would have reported to you. We completed the agreed-upon
procedures on October 27, 2008.GAO-09-90R Airport and Airway Trust Fund Excise Tax Procedures
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United States. Government Accountability Office. Applying Agreed-Upon Procedures: Fiscal Year 2008 Airport and Airway Trust Fund Excise Taxes, text, November 3, 2008; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc297654/m1/1/: accessed July 16, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.