Review of Highway Trust Fund FY 2003 and 2002 Financial Statements
January 23, 2004
Project ID: QC-2004-029
We publicly released the audit report on the FY 2003 and 2002 financial statements of the Highway Trust Fund, in which we concurred with the “clean” or unqualified opinion of Clifton Gunderson LLP. Required by the Chief Financial Officer’s Act, the audit categorized significant financial management and accounting deficiencies as four “material internal-control weaknesses” and one “reportable internal-control condition, and made 23 recommendations to correct these problems. The Department’s chief financial officer concurred with the weaknesses and generally agreed with the recommendations.