Performance And Accountability Report - Fiscal Year 2013 - Federal Aviation Administration - U.s. Department Of Transportation Page 78
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150 O pinion on the Financial Statements
In our opinion, the consolidated financial statements referred to above present fairly, in all material
respects, the financial position of the Federal Aviation Administration as of September 30, 2013 and 2012,
and its net costs, changes in net position, and budgetary resources for the years then ended in accordance
with U.S. generally accepted accounting principles.
Emphasis of Matter
As discussed in Notes 1 and 12, the consolidated financial statements reflect actual excise tax revenues
deposited in the Airport and Airway Trust Fund through June 30, 2013, and excise tax receipts estimated
by the Department of Treasury’s Office of Tax Analysis for the quarter ended September 30, 2013. Our
opinion is not modified with respect to this matter.
Other Matters
Required Supplementary Information
U.S. generally accepted accounting principles require that the information in the Management’s Discussion
and Analysis, Required Supplementary Information, and Required Supplementary Stewardship
Information sections be presented to supplement the basic consolidated financial statements. Such
information, although not a part of the basic consolidated financial statements, is required by the Federal
Accounting Standards Advisory Board who considers it to be an essential part of financial reporting for
placing the basic consolidated financial statements in an appropriate operational, economic, or historical
context. We have applied certain limited procedures to the required supplementary information in
accordance with auditing standards generally accepted in the United States of America, which consisted of
inquiries of management about the methods of preparing the information and comparing the information
for consistency with management’s responses to our inquiries, the basic consolidated financial statements,
and other knowledge we obtained during our audits of the basic consolidated financial statements. We do
not express an opinion or provide any assurance on the information because the limited procedures do not
provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audits were conducted for the purpose of forming an opinion on the basic consolidated financial
statements as a whole. The information in the Other Information, FAA at a Glance, Forward, Messages
from the Administrator and Chief Financial Officer, and Performance Results sections as listed in the Table
of Contents of the FAA Performance and Accountability Report is presented for purposes of additional
analysis and is not a required part of the basic consolidated financial statements. Such information has not
been subjected to the auditing procedures applied in the audits of the basic consolidated financial
statements, and accordingly, we do not express an opinion or provide any assurance on it.
Other Reporting Required by Government Auditing Standards
Internal Control Over Financial Reporting
In planning and performing our audit of the consolidated financial statements, we considered the FAA’s
internal control over financial reporting (internal control) to determine the audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the FAA’s internal
control. Accordingly, we do not express an opinion on the effectiveness of the FAA’s internal control. We
did not test all internal controls relevant to operating objectives as broadly defined by the Federal
Managers’ Financial Integrity Act of 1982.
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Federal Aviation Administration
Fiscal Year 2013
Performance and Accountability Report
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