FAC Explorer

Audit 36951

FY End
2022-12-31
Total Expended
$11.13M
Findings
0
Programs
9
Organization: Mountain Bizcapital, Inc. D/b/a Mountain Bizworks (NC)
Year: 2022 Accepted: 2023-05-08
Auditor: Phillips CPAS and Advisors

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
59.046 Microloan Program $3.36M Yes 0
11.307 Economic Adjustment Assistance $2.73M - 0
10.767 Intermediary Relending Program $1.53M Yes 0
21.024 Community Development Financial Institutions Rapid Response Program (cdfi Rrp) $901,265 - 0
10.870 Rural Microentrepreneur Assistance Program $655,225 - 0
23.002 Appalachian Area Development $588,768 - 0
21.020 Community Development Financial Institutions Program $150,000 - 0
14.218 Community Development Block Grants/entitlement Grants $108,333 - 0
59.050 Prime Technical Assistance $60,000 - 0

Contacts

Name Title Type
C6ULKFNE5985 Brad Bassinger Auditee
8282532834 Matthew Phillips Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: THE INFORMATION IN THIS SCHEDULE IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN 2 CFR PART 200, COST PRINCIPLES FOR NONPROFIT ORGANIZATIONS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 2843182. INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were 1064009. RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM (10.870) - Balances outstanding at the end of the audit period were 664827.