Agreed-Upon Procedures: Fiscal Year 2018 Excise Tax Distributions to the Airport and Airway and Highway Trust Funds

The U.S. Government Accountability Office (GAO) performed the procedures described in the enclosures to this report on fiscal year 2018 net excise tax distributions to the Airport and Airway Trust Fund (AATF) and the Highway Trust Fund (HTF). The Internal Revenue Service (IRS) is responsible for certifying quarterly net excise tax collections to be distributed to the AATF and the HTF that are supported by underlying records. The Department of the Treasury’s Office of Tax Analysis (OTA) is responsible for developing reasonable estimates of net excise tax collections to be distributed to the AATF and the HTF. These IRS certifications and OTA estimates are the bases of the net excise tax distributions to the AATF and the HTF. The sufficiency of these procedures is solely the responsibility of the Office of Inspector General (OIG) of the Department of Transportation. GAO performed these procedures solely to assist OIG in ascertaining whether the net excise tax revenue distributed to the AATF and the HTF for the fiscal year ended September 30, 2018, is supported by underlying records. 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 2018, (2) IRS’s quarterly AATF and HTF excise tax certifications prepared during fiscal year 2018, (3) OTA’s estimates of excise tax amounts to be distributed to the AATF and the HTF for the fourth quarter of fiscal year 2018, and (4) the amount of net excise taxes to be distributed to the AATF and the HTF during fiscal year 2018. Enclosure I provides the details on the agreed-upon procedures and GAO's results with respect to the AATF. Enclosure II provides the details on the agreed-upon procedures and GAO's results with respect to the HTF.

Language

  • English

Media Info

  • Media Type: Digital/other
  • Pagination: 20p

Subject/Index Terms

Filing Info

  • Accession Number: 01686215
  • Record Type: Publication
  • Report/Paper Numbers: GAO-19-151R
  • Files: TRIS
  • Created Date: Nov 8 2018 2:34PM