KPMG report on audit of 2011 tribal government operating budget:
OTHER tribe FUNDS:
Veterans Trust Fund, $14 m
Local Goverance Fund, $14.8 million
Roads Fund, spent about $5.5 million and $5.7 million in 2010 and 2011 respectively. $29.8 million Fund Ballance at Sept. 30, 2011.
Land Acquisition Fund: A note receiveable of about $30 m as of 9-30-11 from NNGE.
BIDF: loan for ec development activities. $3.2 m 9-30-11. $14 m balance
Archaeology Services: subsidized by general fund, continues to lose money.
Navajo Fair: operating loss of $365,000 in 2011
Treaty Days Celebration Fund: running a fund deficit of about $154,000
There are several other funds that KPMG reported on but can’t write as fast as he talks. I will definitely work on getting copy of 2011 audit so bear with me…
33 and reduced from 52 in 2010
procurement findings went down
had some good improvements, nice trend
51 findings 2010, 33 in 2011 and some cuz of changes in regulations
Great trends though. Points out procurement and matching funds.
Contruction rates: Not paying prevailing wages and new in 2011 and haven’t found in years and due to stimulus money funding more contruction projects.
KPMG report over and now for questions