Notes to SEFA
BTD participates in a number of federal and state assisted programs. These programs are audited in accordance with Government Auditing Standards, the Single Audit Act Amendments of 1996, and the State of Texas Single Audit Circular, if applicable, in accordance with the required levels of Federal Financial Assistance. Audits of prior years have not resulted in any significant disallowed costs; however, grantor agencies may provide for further examinations. Based on prior experience, management believes that further examinations would not result in any significant disallowed costs.