Tax Policy:
Allocating Motorboat Fuel Excise Taxes to the Aquatic Resources Trust Fund
GGD-87-43BR: Published: Jun 9, 1987. Publicly Released: Jun 9, 1987.
Additional Materials:
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In response to a congressional request, GAO reviewed the Department of the Treasury's allocation of gasoline excise tax revenues to the Aquatic Resources Trust Fund (ARTF), focusing on whether improvements can be made in the allocation process and in the databases Treasury uses to make allocations.
GAO noted that: (1) the excise tax revenue generated by the sale of gasoline for motorboats has become a major source of federal funding for ARTF; and (2) Treasury must estimate the amount of motorboat fuel taxes collected. GAO found that: (1) although Treasury has completely revised the method it uses to estimate national motorboat fuel consumption, the data still have limitations that reflect a lack of reliable data on motorboat fuel use separate from other forms of gasoline consumption; (2) Treasury needs precise data on national motorboat fuel use to make a more precise allocation of gasoline tax revenues to ARTF; and (3) Treasury could obtain the necessary data by conducting an appropriately designed national survey on motorboat use. GAO concluded that, short of conducting a nationwide survey, Treasury could enhance the reliability of its calculations by ensuring that it incorporates updated and new data into the calculations as they become available.
Nov 16, 2020
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Financial Audit:
Bureau of Consumer Financial Protection's FY 2020 and FY 2019 Financial StatementsGAO-21-174R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Federal Housing Finance Agency's FY 2020 and FY 2019 Financial StatementsGAO-21-201R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Securities and Exchange Commission's FY 2020 and FY 2019 Financial StatementsGAO-21-192R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020.
Nov 10, 2020
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Financial Audit:
IRS's FY 2020 and FY 2019 Financial StatementsGAO-21-162: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020. -
Financial Audit:
Office of Financial Stability's (Troubled Asset Relief Program) FY 2020 and FY 2019 Financial StatementsGAO-21-173R: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020.
Nov 9, 2020
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Financial Audit:
Bureau of the Fiscal Service's FY 2020 and FY 2019 Schedules of Federal DebtGAO-21-124: Published: Nov 9, 2020. Publicly Released: Nov 9, 2020.
Nov 6, 2020
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FY 2020 Excise Tax:
Agreed-Upon Procedures Related to Distributions to Trust FundsGAO-21-163R: Published: Nov 6, 2020. Publicly Released: Nov 6, 2020.
Oct 13, 2020
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DOD Financial Management:
Continued Efforts Needed to Correct Material Weaknesses Identified in Financial Statement AuditsGAO-21-157: Published: Oct 13, 2020. Publicly Released: Oct 13, 2020.
Sep 30, 2020
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Financial Management:
DOD Needs to Implement Comprehensive Plans to Improve Its Systems EnvironmentGAO-20-252: Published: Sep 30, 2020. Publicly Released: Sep 30, 2020.
Sep 9, 2020
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Defense Real Property:
DOD-Wide Strategy Needed to Address Control Issues and Improve Reliability of RecordsGAO-20-615: Published: Sep 9, 2020. Publicly Released: Sep 9, 2020.
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