Indian Tax Extenders Included in Federal Budget

  |  February 12, 2018

The Bipartisan Budget Act of 2018, signed last week by President Trump, includes extensions of three tax incentives that benefit Indian employment and economic development on Indian reservations. These incentives had expired on December 31, 2016; the Budget Act extends them retroactively for one year through December, 2017. Read more. Read More

GASB Financial Reporting Model “Improvements”

  |  August 23, 2017

When the Governmental Accounting Standards Board issued GASB Statement No. 34 in June 1999, it made drastic changes to how state and local governments, including tribal governments, did financial reporting. Now GASB is revisiting that statement and seeking input from stakeholders on how it can improve the model. This is an incredible opportunity to make your concerns known about the current GASB Statement 34 fund financial statements and the proposed changes to those statements.

The fundamental issue GASB is addressing is the form and content of governmental fund financial statements, including their measurement focus and basis of accounting. The objective is to make the statements more understandable for those making decisions based on a government’s fiscal health. Read more. Read More

Indian Health Service Offers Tribal Grants

  |  June 2, 2017

The Indian Health Service (IHS) is accepting applications in June from Tribes for three different grant opportunities:

To June 23, the IHS Office of Tribal Self-Governance (OTSG) is accepting applications for Planning Cooperative Agreements for the Tribal Self-Governance Program (TSGP). The purpose of the agreement is to provide resources to Tribes interested in entering the program and to existing Self-Governance Tribes interested in assuming new or expanded programs, services, functions and activities. Read more. Read More

REDW Principals Corrine Wilson & Bruce Bleakman Contribute to Landmark NAFOA’s Financial Reporting Guide

  |  April 25, 2017

The Native American Finance Officers Association (NAFOA) is set to release its new Financial Reporting and Information Guide for Tribal Governments and Their Enterprises (Orange Book) at its 35th Annual Conference in San Francisco April 23-27.

The new book marks several milestones. Not only is it the first accounting publication to address the unique operating environment of tribal governments, but it also was produced by a team of highly experienced professionals who work in Indian Country. In announcing the Orange Book, NAFOA credits its Financial Management advisory committee – and in particular, two of the leaders of REDW’s Tribal practice who wrote many of the volume’s 10 chapters. Read more. Read More

New Overtime Rule: 5 Steps for Tribes to Get Ready

  |  June 16, 2016

The Department of Labor has finalized a rule that raises the salary threshold at which eligible workers qualify for overtime from $23,660 to $47,476 a year. Set to become effective on Dec. 1, 2016, the new threshold also will automatically increase every three years based on wage growth over time. With plenty of time to prepare, Tribes should consider five steps to be ready for the added salary expense. Read more. Read More