Becerra v. San Carlos Apache Tribe is a landmark Supreme Court case centered around the Indian Self-Determination and Education Assistance Act (ISDEAA), which enables Tribes to enter into contracts with the Federal Government to operate their own health programs. The court's recent decision in favor of the San Carlos Apache Tribe affirmed the government's obligation to fully fund these contracts, including paying contract support costs. To dive deeper into the case and its impact for Indian Country, host and REDW National Tribal Practice Leader Wesley Benally welcomes Kevin Cronk, CPA, and Lloyd B. Miller of Sonosky, Chambers, Sachse, Miller & Monkman, LLP to the podcast.

Chapters

• 00:00 - Introduction to the Becerra v. San Carlos Apache Tribe Ruling
• 04:14 - The Importance of Contract Support Costs for Tribal Self-Determination
• 06:33 - Documentation Challenges and Tips for Making Successful Claims
• 15:03 - Expanding Programs and Negotiating Better Terms with Federal Agencies

Takeaways

• The recent Supreme Court ruling in Becerra v. San Carlos Apache Tribe is a significant win for tribal sovereignty and self-determination.
• Contract support costs are crucial for Tribes operating health programs under self-determination, as they cover the overhead expenses of running the program.
• Tribes should gather the necessary documentation, such as indirect cost agreements, proposals, and amendments, to support their claims for contract support costs.
• The ruling provides an opportunity for Tribes to negotiate better terms with federal agencies and expand their programs to better serve their communities.
• Tribes should consult with legal counsel to ensure their claims are properly prepared and comply with the requirements of the Contract Disputes Act.

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REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

The Tribal Leadership Council is a board-governed not-for-profit business that proudly supports tribal leaders and executives with continuing education and provides tools to better their organizations. Intent on building capacity in Indian Country, the council's primary focus is empowering leadership and promoting economic growth and prosperity for tribal communities. This episode, REDW National Tribal Practice Leader Wes Benally sits down with the organization's Chairman and Co-Founder Justin Barrett (Eastern Shawnee Tribe of Oklahoma) to talk about the council's vision, accelerating growth, and upcoming conference. Tribal leaders won't want to miss the conference taking place July 15-18! WONDR NATION and the Mashantucket Pequot Tribal Nation have created a grant funding opportunity for five Tribal Leaders to attend the conference. Listen in for details.

Chapters

• 00:00 - Introductions
• 04:22 - The Importance of Tools and Knowledge for Tribal Leaders
• 07:42 - Creating a Collaborative Network for Tribal Leaders
• 10:04 - Tribal Leadership Conference Dates and Registration
• 13:54 - Opportunities for Younger Leaders to Get Involved
• 15:36 - Collaborating with Companies like Amazon and AT&T

Takeaways

• The Tribal Leadership Council Conference aims to accelerate the growth of tribal leaders and provide them with the tools and knowledge to make the most of their time in office.
• The conference will cover topics such as energy sovereignty, economic development, and finance, with a focus on sharing ideas and best practices among tribal leaders.
• Networking and collaboration are essential for tribal leaders to learn from each other and build capacity in Indian Country.
• The conference dates are July 15th-18th, 2024, at the Morongo Casino Resort in Palm Springs. There are still seats available, and sponsorship opportunities are also available.

References

• Register for the Tribal Leadership Conference 2024 | July 15 - 18, Morongo Casino, Resort & Spa
• Learn more about the Tribal Leadership Council
• Learn more about Tribal Leadership Council Chairman and Co-Founder, Justin Barrett
• Learn more about the Oklahoma Native Impact Report

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REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

The need for consistency, collaboration, and good internal controls cannot be overstated for implementing GASB 96, which establishes uniform accounting and financial reporting for subscription-based information technology agreements (SBITAs).

With upcoming fiscal years ends on the horizon, REDW National Tribal Practice Leader Wes Benally and Audit Principal Chris Bitakis take some time to discuss GASB 96 implementation thus far and provide insights for tribal organizations to consider. They cover some of the challenges some Tribes have experienced during implementation and the similarities and differences between GASB 87 and GASB 96. They also discuss the importance of centralizing contracts and agreements, calculating liabilities, and creating disclosures. Professionals that are in need of a brief check in (and maybe a few laughs) while navigating the implementation of GASB 96 will find practical guidance in this episode.

Takeaways

• Implementing GASB 96 can be challenging, especially for organizations that did not adequately plan for the implementation of GASB 87.
• Centralizing contracts and agreements is crucial for effectively implementing GASB 96.
• Calculating liabilities requires extracting significant data, determining the legally enforceable term, and using an appropriate interest rate.
• Creating disclosures for GASB 96 should include a separate right-to-use subscription asset, note payable roll forward, and a subscription liability footnote.
• Consistency, collaboration, and good internal controls are key to successfully implementing GASB 96.

Chapters

• 00:00 - Introduction and Overview
• 03:01 - Understanding SBITA and Its Importance
• 07:20 - Calculating Liabilities for GASB 96
• 09:48 - Centralizing Contracts and Agreements
• 12:42 - A Few Notes on Best Practices
• 16:26 - Creating Disclosures for GASB 96
• 21:44 - The Final Stretch for Implementing GASB 96
• 24:18 - Conclusion and Closing Remarks

References

• Contact Chris and the Audit team at REDW for questions.

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REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

It's time to dust off those P&Ps! REDW's Internal Audit team is here to help you find the finish line with your organization's policies and procedures.

For all types of organizations, turnover and evolving roles are common issues that both contribute to outdated policies and procedures and require their updates. For Internal Audit Awareness Month, REDW National Tribal Practice Leader Wes Benally and Internal Audit Audit Senior Manager Cait Gutierrez discuss the importance of an internal audit and the role it plays in tribal organizations. They highlight the need for effective financial policies and procedures and the impact they can have on an organization's success. Cait shares examples of how noncompliance with financial regulations and the lack of proper policies and procedures can negatively impact organizations.

Takeaways

• Internal audit is a critical function in organizations, including tribal organizations, and plays a key role in risk mitigation.
• Financial policies and procedures are essential for the success of an organization and should be regularly reviewed and updated. Outdated policies and procedures can lead to inefficiencies, increased risks, and potential noncompliance with financial regulations.
• Common risks in organizations include turnover, fraud, bottlenecks, and loss of funding.
• Collaboration and buy-in from all levels of the organization are crucial for the successful development and implementation of policies and procedures.
• Regular reviews and updates of policies and procedures are recommended, and projects can be phased to manage resources effectively.

Chapters

• 00:00 - Introduction and Importance of Internal Audit
• 03:45 - The Role of Policies and Procedures in Risk Mitigation
• 07:30 - The Impact of Outdated Policies and Procedures
• 10:45 - Striking a Balance: Efficiency and Risk Mitigation in Policy and Procedure Design
• 14:13 - Common Risks and the Benefits of Regular Reviews and Updates
• 24:46 - Areas That Often Need Policy and Procedure Updates
• 27:35 - Next Steps and REDW's Expertise in Financial Policies and Procedures
• 31:19 - Don't miss the New Mexico Society of CPAs Tribal Conference!

References

• Contact Cait Gutierrez on REDW's Internal Audit team to set up a consult or for help assessing your organization's needs
• Event info: New Mexico Society of CPAs (NMSCPA) Second Annual Tribal Conference - May 16, 2024
• Register for in-person attendance for the Second Annual Tribal Conference hosted by NMSCPA and REDW
  • Address: 3400 Menaul Blvd NE, Albuquerque, NM 87107
• Register for virtual attendance for the Second Annual Tribal Conference hosted by NMSCPA and REDW

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REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

On May 16, the New Mexico Society of CPAs (NMSCPA) is hosting their Second Annual Tribal Conference focused on tribal enterprises, cohosted by REDW Advisors and CPAs. Wes Benally is joined by fellow REDW Principals Victor Flores and Chris Henderson to touch on conference topics including tribal economics, entrepreneurship, and impact investing with native-owned businesses.

Victor and Cait Gutierrez, REDW Internal Audit Senior Manager, will join a lineup of respected speakers at the event. Their sessions will provide valuable perspectives and actionable knowledge on economic development and entrepreneurship within Native communities. The conference aims to foster learning, networking, and collaboration among tribal enterprises and professionals.

Not in New Mexico? Not a problem! Attendees can join in person or virtually.

This conference also offers up to 4.0 Continuing Professional Education (CPE) credits, adding extra value for attending professionals seeking to advance their knowledge and expertise.

Chapters
00:00 - Introduction to the NMSCPA Tribal Conference
06:58 - Tribal Enterprises and Other Industries in Indian Country
11:12 - Innovative Business Models in Tribal Enterprises
15:35 - Learning and Networking at Conferences
24:23 - Taking Action and Implementing Ideas

References

• Event info: New Mexico Society of CPAs (NMSCPA) Second Annual Tribal Conference - May 16, 2024
• Register for in-person attendance for the Second Annual Tribal Conference hosted by NMSCPA and REDW
  • Address: 3400 Menaul Blvd NE, Albuquerque, NM 87107
• Register for virtual attendance for the Second Annual Tribal Conference hosted by NMSCPA and REDW

Get connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

Tribal fiduciaries have a responsibility to follow sound fiscal practices and fulfill their duty of care. This episode, Wes Benally and Paul Madrid discuss the Tribal fiduciary role and reducing risk in the management of employer-sponsored retirement plans. Paul explains the unique challenges tribal fiduciaries face, the importance of following fiduciary responsibilities, and introduces REDW's retirement plan sponsor scorecard—a tool specially designed to help Tribes assess their retirement plan management.

The scorecard consists of 14 questions that cover areas such as investment policies, goals and objectives, and the effectiveness of education programs. Paul emphasizes the significance of having an investment committee and providing education to plan participants and highlights the role of accredited investment fiduciaries in sound fiscal practices.

Takeaways

• The retirement plan sponsor scorecard helps tribes assess their retirement plan management and identify areas for improvement.
• Key areas covered by the scorecard include investment policies, goals and objectives, and the effectiveness of education programs.
• Having an investment committee and providing education to plan participants are crucial for successful retirement plan management.
• Accredited investment fiduciaries play a significant role in sound fiscal practices and reducing risk.

Chapters
00:00 - Introduction to Managing Employer-Sponsored Retirement Plans
02:09 - Introducing the Retirement Plan Sponsor Scorecard
05:13 - Understanding Fiduciary Responsibilities and Risk Management
08:56 - The Importance of Investment Policies and Committees
12:23 - Providing Education and Support to Plan Participants
21:29 - Taking the Retirement Plan Sponsor Scorecard
24:24 - Conclusion and Invitation to NEFO Conference

References

• Read: Fiduciary Risk Management for Retirement Plan Sponsors
• Learn More: REDW's 14-Question Retirement Plan Sponsor Scorecard for Tribes
• Event: NAFOA's 42nd Annual Conference - April 29 @ Seminole Hard Rock Hotel

Wealth Management Disclosure Statement
© 2024 REDW Wealth LLC. This publication is intended for general informational purposes only and should not be construed as investment, financial, tax, or legal advice. Information and instruction shared in the article above do not guarantee outcomes, performance, or quality of services provided to REDW Wealth Management clients by REDW Wealth Management or its employees. Adherence to our fiduciary duty is not a guarantee of client satisfaction or any particular outcome. Advisory, Assurance, and Tax is offered through REDW LLC. Wealth Management is offered through REDW Wealth LLC.

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REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

Our celebration of Women's History Month continues with Hattie Mitchell, a senior manager in client advisory and accounting services. Hattie shares her journey as a professional and member of the Prairie Band Potawatomi Nation with REDW National Tribal Practice Leader and show host, Wes Benally. She discusses the inspiration she drew from her family's involvement in tribal finance, and talks about her involvement in the Governmental Accounting Standards Advisory Council (GASAC) and the unique reporting needs of tribal governments.

Chapters
00:00 Introduction
00:28 Hattie's Background and Inspiration
07:06 Governmental Accounting Standards Advisory Council
12:26 Finance Certificate Program and Teaching
19:00 Dealing with Stress and Challenges
20:29 Advice for Young Professionals
22:20 Closing Remarks

References

• 2024 Governmental Accounting Standards Advisory Council (GASAC) Technical Agenda Prioritization - For Tribal Leaders and Tribal Financial Professionals - The GASAC is seeking feedback from members in prioritizing the GASB's Technical Plan. Provide your responses by Monday, April 8, 2024.
• GASAC April 15-16 Live Meeting Info - Available by webcast. If planning to observe a meeting, please provide notification no later than 48 hours before the meeting. Find details here.
• Contact Hattie Mitchell by email.
• 2024 Indian Gaming Tradeshow and Convention - The largest gathering of tribal leaders and casino executives in the country, the Indian Gaming Tradeshow & Convention is now in its 31st year and continues to deliver the insight and strategies needed to succeed in the competitive gaming industry. REDW Gaming Operations Manager Kandi Link to Speak in The Smart Casino: Embracing Technology and the Modern Gaming Floor.
  
  

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REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

Happy Women's History Month! In this episode, REDW Principal and National Tribal Practice Leader Wes Benally interviews Colaine Curtis, a senior manager and client advisor. Colaine shares her journey as a Diné woman in the accounting profession, discussing her early career working for tribal organizations, transition to public accounting, and the rewards and challenges of her work. She offers advice for those considering a career in accounting and emphasizes the importance of indigenous representation in the field.

Chapters

00:00 - Introduction and Background

04:03 - Early Career and Experience

06:23 - Working in Startups and Tribal Organizations

09:03 - Transition to Public Accounting

10:41 - Motivation and Rewards in the Field

21:50 - Decrease in Enrollment and Indigenous Representation

28:18 - Closing Remarks and Appreciation

References

• Careers at REDW - REDW has served Sovereign Tribal Nations for over 40 years. Our team members understand and respect tribal sovereignty and culture and have become deeply invested in the financial well-being of tribal communities. Learn more about our current career opportunities at redw.com/careers.
• OTFC Spring Conference - The Oklahoma Tribal Finance Consortium (OTFC) Spring 2024 Conference is almost here! We'll see you March 27th - 29th at Indigo Sky Casino Resort in Wyandotte, OK. Register or learn more at oktribalfinance.com.

Get connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!