Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal and state grant activity of the Texoma Workforce Development Board under programs of the federal and state government for the year ending September 30, 2025. The information in this schedule is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a portion of the operations of the Texoma Workforce Development Board, it is not intended to and does not present the net position or changes in fund balances of the Texoma Workforce Development Board.
Amounts reported in the accompanying schedule may not agree with the amounts reported in the related federal financial reports filed with the grantor agencies because of accruals made in the schedule which will be included in future reports filed with those agencies.
The Board participates in several state and federally-assisted programs. These programs are subject to financial and compliance audits by the grantors or their representatives. The purpose of these audits is to ensure compliance with conditions relating to the granting of funds and other reimbursement regulations. These programs have compliance requirements and should federal or state auditors discover areas of material noncompliance, those funds may be subject to refund if so, determined by administrative audit review.