Notes to SEFA
DART participates in several federal grant programs, which are governed by various rules and regulations of the grantor agencies. Costs charged to the respective grant programs are subject to audit and adjustment by the grantor agencies. Therefore, to the extent that DART has not complied with the rules and regulations governing the grants, refunds of any money received may be required, and the collectability of any related receivable at September 30, 2025 may be impaired. In the opinion of management, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grants.
Federally guaranteed loan issued to DART under the Railroad Rehabilitation and Improvement Financing (RRIF) Loan Program outstanding as of September 30, 2025. There were draws on the loan during the year ending September 30, 2025 totaling $603,865,122.
DART did not receive non-cash assistance or have Federal insurance in effect during the fiscal year.