FAC Explorer

Audit 44288

FY End
2022-12-31
Total Expended
$3.97M
Findings
0
Programs
6
Organization: First American Capital Corporation, Inc. (WI)
Year: 2022 Accepted: 2023-06-29
Auditor: Ritz Holman LLP

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
21.027 Coronavirus State and Local Fiscal Recovery Funds $539,000 Yes 0
59.046 Microloan Program $281,500 Yes 0
21.024 Community Development Financial Institutions Rapid Response Program (cdfi Rrp) $260,000 Yes 0
10.769 Rural Business Enterprise Grants $91,375 - 0
21.020 Community Development Financial Institutions Program $75,000 Yes 0
21.012 Native Initiatives $75,000 - 0

Contacts

Name Title Type
TRCKH6J4CVZ3 Gary Mejchar Auditee
4146042044 Renee Messing Auditor
No contacts on file

Notes to SEFA

Title: Loans Outstanding Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of First American Capital Corporation, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. De Minimis Rate Used: N Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Loans outstanding at the end of the year included $542,403 under the Small BusinessAdministration Microloan Program (CFDA #59.046), and $1,353,581 under the CommunityDevelopment Financial Institutions Program (CFDA #21.020).