Applying Agreed-Upon Procedures:
Federal Unemployment Taxes
GAO-07-130R: Published: Nov 3, 2006. Publicly Released: Nov 3, 2006.
We performed the procedures which we agreed to perform and with which the Department of Labor (DOL) concurred soley to assist the DOL in ascertaining whether the net federal unemployment tax (FUTA) revenue distributed to the Unemployment Trust Fund (UTF) for the fiscal year ended September 30, 2006, is supported by the underlying records. The procedures we agreed to perform relate to (1) transactions that represent underlying basis of amounts distributed to the UTF and (2) key reconciliations of the Internal Revenue Service records to the Department of the Treasury Records.
As agreed with DOL, we evaluated fiscal year 2006 activity affecting distributions to the UTF.