Notes to SEFA
The accompanying schedule of expenditures of federal, state and local awards (the schedule) includes the federal, state and local activity of Newcap, Inc. (Newcap) under programs of the federal, state and local government for the year ended December 31, 2024. The information in this schedule is presented 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) and the Wisconsin State Single Audit Guidelines (the Guidelines). Because the schedule presents only a selected portion of the operations of Newcap, it is not intended to and does not present the financial position, changes in net assets or cash flows of Newcap. Expenditures for the following consolidated subsidiaries of Newcap are not included in the accompanying schedule of expenditures of federal, state and local awards to meet the requirements of the Uniform Guidance because they did not receive any funding subject to the Uniform Guidance or the Guidelines. Newcap Builds Community, Inc. Trolley Station Terrace, LLC Trolley Station Terrace Developer, LLC Newcap Village on the Water, LLC
Newcap received federal and state funding from various pass-through entities and some of the pass-through entities did not provide the federal assistance listing number or state identification number. The federal amounts are presented as 16.UNK as the funds originate with the U.S. Department of Justice (DOJ). The funds for 16.UNK were assessed as one program as the DOJ contracts were similar. The state amount is presented as Unknown as the funds originate with the Wisconsin Department of Corrections, and is considered one program.