Independent Auditor's Report on Applying Agreed-Upon Procedures:

Fiscal Year 2017 Excise Tax Distributions to the Airport and Airway Trust Fund and the Highway Trust Fund

GAO-18-152R: Published: Nov 9, 2017. Publicly Released: Nov 9, 2017.

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Cheryl E. Clark
(202) 512-9377
clarkce@gao.gov

 

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What GAO Found

GAO performed the procedures described in the enclosures to this report, which were agreed to by the Office of Inspector General of the Department of Transportation solely to assist it in ascertaining whether the net excise tax revenue distributed to the Airport and Airway Trust Fund (AATF) and the Highway Trust Fund (HTF) for the fiscal year ended September 30, 2017, is supported by underlying records. The enclosures to this report describe the results of these procedures. GAO was not engaged to perform, and did not perform, an examination or review, the objective of which would have been to express an opinion or conclusion, respectively, on the amount of net excise taxes distributed to the AATF and the HTF during fiscal year 2017. Accordingly, GAO does not express such an opinion or conclusion. This report is solely for the use of the Office of Inspector General of the Department of Transportation and is not suitable for any other purpose. The Internal Revenue Service (IRS) agreed with the findings related to the procedures performed concerning excise tax distributions to the AATF and the HTF during the fiscal year 2017. The Department of the Treasury's Office of Tax Analysis (OTA) had no comments on the report.

Why GAO Did This Study

GAO performed agreed-upon procedures to assist the Office of Inspector General of the Department of Transportation in ascertaining whether the net excise tax revenue distributed to the AATF and the HTF for the fiscal year ended September 30, 2017, is supported by underlying records. The Office of Inspector General of the Department of Transportation is responsible for the sufficiency of these agreed-upon procedures to meet its objectives, and GAO makes no representation in that respect. The procedures GAO agreed to perform were related to (1) transactions that represent the underlying basis of amounts distributed from the General Fund to the AATF and the HTF during fiscal year 2017, (2) IRS's quarterly AATF and HTF excise tax receipt certifications prepared during fiscal year 2017, (3) OTA's estimates of excise tax amounts to be distributed to the AATF and the HTF for the fourth quarter of fiscal year 2017, and (4) the amount of net excise taxes to be distributed to the AATF and the HTF during fiscal year 2017.

For more information, contact Cheryl E. Clark at (202) 512-9377 or clarkce@gao.gov.
 

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