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 <subject>Auditing procedures</subject>
 <subject>Financial statement audits</subject>
 <subject>Trust funds</subject>
 <subject>Funds management</subject>
 <subject>Policies and procedures</subject>
 <subject>Treasury Unemployment Trust Fund</subject>
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<titleInfo>
 <title>Applying Agreed-Upon Procedures: Federal Unemployment Taxes</title>
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<abstract>We have performed the procedures contained in the enclosure to
this report, which we agreed to perform, solely to assist the	 
Department of Labor in ascertaining whether the net federal	 
unemployment tax (FUTA) revenue distributed to the Unemployment  
Trust Fund (UTF) for the fiscal year ended September 30, 2003, is
supported by the underlying records. As agreed with the Inspector
General, we evaluated fiscal year 2003 activity affecting	 
distributions to the UTF.</abstract>
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