Summary
This year marks a significant change to annual audits for Tribes, with CARES Act funding, the OMB Compliance Supplement, and latest GASB implementations. REDW’s team of tribal experts present this 90-minute webinar to help you prepare for your FY 2020 audits and financial statements.
Agenda
- GASB Updates
- 2020 Compliance Supplement & Addendum
- CARES Act and Other Updates (please note that slide #66 in this section was inadvertently left out of the live/recorded presentation, but can be found in the PDF of the Presentation Slides below)
- CARES Act Provider Relief Fund
Watch the March 2, 2021 Recording
Q&A
Q: | Would GASB-90 apply for non-enterprises? For example, a tribe is part of a tribal housing consortium where they provide their grants to the consortium; the housing consortium does have some income (rent) but its purpose is to provide housing to tribal members. |
A: | GASB-90 applies to all funds. However, if a Tribe is part of a consortium or organization of other Tribes and doesn’t have the majority, controlling interest, then it is either a related organization or jointly governed organization that should be reported and disclosed per GASB-14 and 61. |
Q: | In recording leases, as far as reporting for 2020 FY, will it be retroactive for the period it started or just the current year? |
A: | GASB-87 is effective for fiscal years beginning AFTER 6.15.21 |
CPE Request / Evaluation Form
Click here to complete an online form to formally request CPE credit (available only to those who attended the live webinar) and provide your feedback (optional). If you have issues accessing this form, please email Carla Salizzoni at csalizzoni@redw.com.
Resources
- Presentation Slides (PDF)
- 2020 Compliance Supplement & Addendum
- Handout: Treasury Letter to NAFOA
- Handout: Federal Register: Updated CRF Guidance from Treasury
- IHS Relief Fund Payment Terms & Conditions (PDF)
- HHS Website: CARES Act Provider Relief Fund
- CARES Act Provider Relief Fund FAQs
- 2020 OMB Compliance Supplement (GAQC)
Our Speakers