[Code of Federal Regulations]
[Title 14, Volume 3]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR158.69]

[Page 195-196]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION 
                               (CONTINUED)
 
PART 158--PASSENGER FACILITY CHARGES (PFC'S)--Table of Contents
 
             Subpart D--Reporting, Recordkeeping and Audits
 
Sec. 158.69  Recordkeeping and auditing: Collecting carriers.

    (a) Collecting carriers shall establish and maintain for each public 
agency for which they collect a PFC an accounting record of PFC revenue 
collected, remitted, refunded and compensation retained under 
Sec. 158.53(a) of this part. The accounting record shall identify the 
airport at which the passengers were enplaned.
    (b) Each collecting carrier that collects more than 50,000 PFC's 
annually shall provide for an audit at least annually of its PFC 
account.

[[Page 196]]

    (1) The audit shall be performed by an accredited independent public 
accountant and may be of limited scope. The accountant shall express an 
opinion on the fairness and reasonableness of the carrier's procedures 
for collecting, holding, and dispersing PFC revenue. The opinion shall 
also address whether the quarterly reports required under Sec. 158.65 
fairly represent the net transactions in the PFC account.
    (2) For the purposes of an audit under this section, collection is 
defined as the point when agents or other intermediaries remit PFC 
revenue to the carrier.
    (3) Upon request, a copy of the audit shall be provided to each 
public agency for which a PFC is collected.