Preparing for Tribal Accounting and Audit in 2021

Summary

Click here to view the recording

Click here to view the March 2, 2021 webinar recording.

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

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

Our Speakers

Corrine Wilson, CPA Corrine Wilson, CPA
Principal and Co-Leader of REDW’s National Tribal Practice


Nationally recognized as an expert in tribal government financial management, Corrine heads REDW’s national tribal practice. After serving more than 14 years as an accountant and financial officer for various tribes, including as CFO of a large tribal healthcare organization, Corrine has since worked nearly 20 years in public accounting, performing audits for tribal governments and enterprises. As a NAFOA board member, she was a key contributor to its newly updated Tribal Financial Reporting Guide (the Orange Book), and also serves as a lead instructor for the Tribal Financial Managers Certificate Program through Arizona State University’s American Indian Policy Institute. Corrine is a member of the Ft. McDermitt Paiute-Shoshone Tribe of Nevada.

Wesley Benally, CPA
Audit Senior Manager and Co-Leader of REDW’s National Tribal Practice


Wes has more than 14 years of experience in public accounting, performing audits of numerous Native American communities and public government agencies. He also serves as an instructor for the Tribal Financial Managers Certificate Program through Arizona State University’s American Indian Policy Institute, sponsored by the NAFOA. Wes is an enrolled member of the Navajo Nation.

Mike Dierlam, CPA
Audit Senior Manager


Mike has a passion for serving tribal governments and enterprises and has spent more than 10 years serving tribes as an auditor and consultant, managing financial statement audits and Uniform Guidance audits for tribal governments and tribal enterprises. Mike is an enrolled member of the Cherokee Nation.

Colaine Curtis Colaine Curtis, MBA
Accounting Specialist Manager


Colaine specializes in performing financial and compliance engagements for tribal governments, enterprises, and healthcare corporations. She also provides accounting services, indirect cost proposal and audit preparation services, as well as interim Controller services. She is an enrolled member of the Navajo Nation.

Marcus Benally Marcus Benally, MBA
Audit Senior Associate


Since joining REDW in October 2015, Marcus has served on numerous financial statement audit engagements and single audits of federal programs for tribal government and tribal healthcare clients. Marcus is an enrolled member of the Navajo Nation.