Sec. 734. GAO AUDIT OF AIRPORT FINANCIAL REPORTING PROGRAM
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## SEC. 734 GAO AUDIT OF AIRPORT FINANCIAL REPORTING PROGRAM ###
(a)Audit Not later than 18 months after the date of enactment of this Act, the Comptroller General shall initiate an audit of the airport financial reporting program of the FAA and provide recommendations to the Administrator on improvements to such program. ###
(b)Requirements In conducting the audit required under subsection (a), the Comptroller General shall, at a minimum— ####
(1)review relevant FAA guidance to airports, including the version of Advisory Circular 150/5100-19, titled “Operating and Financial Summary”, that is in effect on the date of enactment of this Act; ####
(2)evaluate the information requested or required by the Administrator from airports for completeness and usefulness by the FAA and the public; ####
(3)assess the costs associated with collecting, reporting, and maintaining such information for airports and the FAA; ####
(4)determine if such information provided is— #####
(A)updated on a regular basis to make such information useful; and #####
(B)audited and verified in an appropriate manner; ####
(5)assess if the Administrator has addressed the issues the Administrator discovered during the apportionment and disbursement of relief funds to airports under the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116-136) using inaccurate and aged airport financial data; and ####
(6)determine whether the airport financial reporting program as structured as of the date of enactment of this Act provides value to the FAA, the aviation industry, or the public. ###
(c)Report to Congress Not later than 3 months after the completion of the audit required under subsection (a), the Comptroller General shall submit to the appropriate committees of Congress a report containing the findings of such audit and any recommendations provided to the Administrator to improve or alter the airport financial reporting program.
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Sec. 734
GAO AUDIT OF AIRPORT FINANCIAL REPORTING PROGRAM
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