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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 1, 1997
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Budget Group, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-78274 59-3227576
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(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
125 Basin Street, Suite 210, Daytona Beach, FL 32114
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (904) 238-7035
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Team Rental Group, Inc.
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(former name)
This document consists of 5 pages
The Exhibit Index is at page 4
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Item 5. Other Events
This Amendment is intended to refile the audit report of Deloitte &
Touche related to the financial statements of ValCar that omitted the name of
the independent auditors.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 - Report of Deloitte & Touche
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BUDGET GROUP, INC.
(Registrant)
Date: May 1, 1997 By: /s/ Sanford Miller
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Sanford Miller
Chairman and Chief Executive Officer
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EXHIBIT INDEX
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Exhibit Number and Description Page
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99.1 - Report of Deloitte & Touche
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EXHIBIT 99.1
INDEPENDENT AUDITOR'S REPORT
To the Shareholders of
ValCar Rental Car Sales, Inc.
We have audited the accompanying balance sheets of ValCar Rental Car Sales,
Inc. as of December 31, 1995 and 1994, and related statements of operations,
changes in stockholders' (deficiency) equity and cash flows for each of the
three years in the period ended December 31, 1995. These financial statements
are the responsibility of the Company's management. Our responsibility is to
express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statements presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the financial position of the Company at December 31, 1995 and 1994,
and the results of its operations and its cash flows for each of the three
years in the period ended December 31, 1995 in conformity with generally
accepted accounting principles.
DELOITTE & TOUCHE LLP
Indianapolis, Indiana
April 26, 1996
(October 22, 1996 as to Notes 10, 11 and 12)
