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91 TTANaI <br />An audit involves performing procedures to obtain audit evidence about the amounts and <br />disclosures in the financial statements. The procedures selected depend on the auditor's judgment, <br />including the assessment of the risks of material misstatement of the financial statements, whether due to <br />fraud or error. In making those risk assessments, the auditor considers internal control relevant to the <br />entity's preparation and fair presentation of the financial statements in order to design audit procedures <br />that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the <br />effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also <br />includes evaluating the appropriateness of accounting policies used and the reasonableness of significant <br />accounting estimates made by management, as well as evaluating the overall presentation of the <br />financial statements. <br />We believe that the audit evidence we have obtained is sufficient and appropriate to provide a <br />basis for our audit opinion. <br />Opinion <br />In our opinion, the financial statements referred to above present fairly, in all material respects, <br />the respective financial position of the Authority, as of September 30, 2016, and the respective changes <br />in financial position and cash flows thereof for the year then ended in conformity with accounting <br />principles generally accepted in the United States of America. <br />Other Matters <br />Required Supplementary Information <br />Accounting principles generally accepted in the United States of America require that the <br />management's discussion and analysis on pages 4 through 7 be presented to supplement the basic <br />financial statements. Such information, although not part of the basic financial statements, is required by <br />the Governmental Accounting Standards Board, who considers it to be an essential part of financial <br />reporting for placing the basic financial statements in an appropriate operations, economic, or historical <br />context. We have applied certain limited procedures to the required supplementary information in <br />accordance with auditing standards generally accepted in the United States of America, which consisted <br />of inquiries of management about the methods of preparing the information and comparing the <br />information for consistency with management's responses to our inquiries, the basic financial <br />statements, and other knowledge we obtained during our audit of the basic financial statements. We do <br />not express an opinion or provide any assurance on the information because the limited procedures do <br />not provide us with sufficient evidence to express an opinion or provide any assurance. <br />Other Information <br />Our audit was conducted for the purpose of forming opinions on the financial statements that <br />collectively comprise the Authority's basic financial statements. The Texas Supplementary Information <br />listed in the table of contents, are presented for purposes of additional analysis and are not a required <br />part of the basic financial statements. <br />2 <br />