April 26: 5 Things You Need to Know this Week
April 26, 2021
Photo of the Week: The Spring 2021 NAFOA Navigator is available for digital download for everyone! Find information about the Conference, insightful articles from our sponsors, updates from NAFOA, and more. Download the Navigator today!
DUAL TAXATION CONSULTATION - OPEN TO ALL
The TTAC Dual Taxation Subcommittee finalized their report of recommendations to the Department of the Treasury and submitted it to the TTAC during their December 9, 2020 meeting. The TTAC and the Department of the Treasury are hosting a Consultation and listening session on this report during NAFOA's virtual Annual Conference on April 30, 2021 from 2:00pm - 5:00pm ET.
While this Consultation and listening session will be aligned with NAFOA's conference, it is open to all. For more information, please see Treasury's Dear Tribal Leader Letter. Register Here for Dual Taxation Consultation
2. MORE POLICY:
TREASURY RELEASES GUIDANCE ON HOMEOWNER ASSISTANCE FUND
The U.S. Department of the Treasury recently released guidance regarding the Homeowner Assistance Fund (“HAF”). The HAF allocates nearly $10 billion to assist homeowners experiencing financial hardship after January 21, 2020 and is part of the American Rescue Plan Act of 2021.
The HAF sets aside $498 million specifically for Tribes, Tribally designated housing entities, and the Department of Hawaiian Home Lands. Funds from the HAF may be used for assistance with mortgage payments, homeowner’s insurance, utility payments, internet service, delinquent property taxes, and other specified purposes. Learn more in NAFOA's recent broadcast.
3. PROFESSIONAL DEVELOPMENT:
GET THE NAFOA ORANGE BOOK FOR 20% OFF DURING #NAFOA2021 WEEK
The Financial Reporting and Information Guide for Tribal Governments and Enterprises (aka the "Orange Book") from NAFOA is the only educational resource that covers Tribal Government Financial Management. The Orange Book)addresses the complex economic activity and related entity differences of tribal settings. It also presents an overview of the financial reporting framework in a tribal setting. The cost of this book is an allowable charge to your federal grants and subgrants. Purchase the Orange Book for 20% off today.
NAFOA IS SEEKING A SENIOR POLICY ADVISOR
Under the direction of the Executive Director or such other position as the Executive Director may designate from time-to-time, the Senior Legislative Policy Director (“SLP”) is responsible for both managing and supervising the legislative policy practice areas of NAFOA’s operation.
As a manager the SLP will make essential decisions that affect all aspects of NAFOA’s legislative policy practice area, including the formulation, development and advocacy of federal Indian policies in the fields of tax, finance, investment, banking, infrastructure, and common sectors such as energy, gaming, and government contracting, as well as issues related to land use, among others.
As a supervisor the SLP will supervise the subordinate policy specialist positions currently titled, “Policy Specialist” and “Economic Policy Specialist,” and such other positions as assigned or directed by the Executive director. Learn more and apply at www.nafoa.org/jobs.
5. IN THE NAVIGATOR:
TRIBAL GOVERNMENTS AND THE AMERICAN RESCUE PLAN:
3 Tips To Avoiding The Landmines Of Budgeting, Planning, And Spend Control
By Jason Winkler, Senior Director of Tribal Business Services, Wipfli
By now we are all very familiar with the passing of the American Rescue Plan (ARP), as well as the $31 billion allocated to tribal nations and their respective health programs. While the applauded and bold legislative package will undoubtedly have a monumental impact on addressing the economic and public health crisis exacted on tribes by COVID-19, the dollars themselves do not ensure success. “It’s going to be a struggle ... but with proper technical assistance and support, they can really make a pretty big bang for this amount of buck,” said Wayne Ducheneaux, Executive Director of the Native Governance Center.
In practice, it’s going to require hard work and disciplined strategic planning to properly invest these funds. Unlike the rush to allocate CARES Act dollars, maximizing the ARP funds towards the right initiatives through 2024 could equate to protecting your financial sovereignty for generations to come.