News
August 10, 2021
Following the U.S. Supreme Court ruling this summer that Alaska Native Corporations (ANCs) were eligible for payments from the 2020 CARES Act Coronavirus Relief Fund, Maserculiq Incorporated has received funding on behalf of its Shareholders. The corporation received $244,060.47 as its total allocation.
Shareholders must understand that under federal regulation, the funds must be spent on direct pandemic relief.
The U.S. Treasury has very strict guidelines on how this funding may be used. For example, a special dividend is not allowed. Using funds to offset lost revenues is not allowed. Bonuses are not allowed. All payments from the CARES Act Tribal relief funds must be directly related to the current pandemic. Reporting to Treasury on how funds are used is required. Treasury has stated that organizations should expect audits on how funds are used.
Your Board and executive staff are carefully assessing how to expend the funds in a manner that complies with the law and the U.S. Treasury’s strict spending requirements while meeting the needs of Shareholders negatively affected by the COVID-19 pandemic.
Finalizing these determinations and implementing programs will take some time and we ask for your patience and understanding.
Please direct your questions to office@maserculiq.com. All questions will be addressed in a timely fashion.
Agusta Askoak
Shirley Barnes
Henry Duny
Brittany Louise Hunter
Daryl Hunter
Deborah Hunter
Taylor Marie Hunter
Marie K. Lein
Mark P.E. McClane
George Owletuck
Michael Louis Papp
Jeremy Troy Robinson
John William Westdahl