1. CONFERENCE: ROUND UP THE FUN AT RAWHIDE WESTERN TOWN FOR THE #NAFOAFALL23 CLOSING RECEPTION
After two full days of informative sessions at NAFOA’s 2023 Fall Finance & Tribal Economies Conference, round up your colleagues and saddle up for a wild time at Rawhide Western Town on Tuesday, October 3rd. Enjoy an evening of networking, delicious foods, fun games, and even learn some line dancing! It’s a night you won’t want to miss, so lasso your cowboy boots, and register for the Conference today!
2. POLICY: PETERS, CORNYN AND LANKFORD INTRODUCE BIPARTISAN BILL TO HELP IMPROVE THE FEDERAL GRANT APPLICATION PROCESS
U.S. Senators Gary Peters (D-MI), Chairman of the Homeland Security and Governmental Affairs Committee, John Cornyn (R-TX), and James Lankford (R-OK) introduced bipartisan legislation that would help streamline the administration of grant programs across the federal government. Governments and organizations in small and rural communities often struggle when applying for federal grants because they lack the necessary resources to navigate a complicated application process. The senators’ bill would simplify and streamline this application process to increase access to federal grants for all communities. The legislation builds on a 2019 law led by Peters and Lankford that required federal grant programs to streamline data standards for applications and reporting.
“NAFOA strongly supports the push for improved access to grants for historically marginalized tribes and communities with the greatest needs. It is a step in the right direction to ensure a level playing field for those that Congress intended to be the recipients and beneficiaries of these grants and programs,” said Susan Masten, NAFOA Interim Executive Director.
Source: U.S. Senate Committee on Homeland Security & Governmental Affairs
3. FOR TRIBES: SSBCI TECHNICAL ASSISTANCE GRANT PROGRAM APPLICATION DEADLINE EXTENDED FOR TRIBAL GOVERNMENTS
The U.S. Department of the Treasury is extending the deadline for Tribal governments to submit their complete SSBCI Technical Assistance (TA) Grant Program application to October 27, 2023, at 11:59 p.m. Eastern Time (ET). Tribal governments that submitted a timely and complete SSBCI Capital Program application or were part of a timely and complete Tribal joint Capital Program application are eligible to submit or be part of a Tribal joint application for the TA Grant Program. A list of Capital Program applications Treasury has received corresponding to Tribal governments can be found on Treasury’s website. Treasury seeks to support all Tribal governments that are interested in participating in SSBCI. Treasury will provide information and technical assistance on TA Grant Program applications to Tribal governments that submit questions to SSBCI_Information@treasury.gov.
Source: U.S. Department of the Treasury
4. FINANCIAL MANAGEMENT MUST READ: UNDERSTANDING GASB UPDATES IN 2023 AND IMPACT TO TRIBAL GOVERNMENTS
Several Governmental Accounting Standards Board (GASB) Statements have implications for tribal governments this year and in the future.
GASB 87 Leases must be adopted for fiscal years ending in 2022, after a deferred start date due to the coronavirus pandemic. This establishes a single model for lease accounting based on the principle that leases are financings of the right to use an asset. There is no longer an operating versus capital classification, and lessees will recognize an intangible right-to-use asset and a lease liability.
For fiscal years beginning after June 15, 2021, GASB 88 Certain Disclosures Related to Debt, requires disclosure of essential debt-related information for all types of debt, including:
- amounts of unused lines of credit.
- assets pledged as collateral for debt.
- terms specified in debt agreements related to significant events of default with finance-related consequences, termination events with finance-related consequences, and subjective acceleration clauses.
Source: REDW Advisors & CPAs
5. JOBS: SENECA RESORTS AND CASINOS IS SEEKING CHIEF OPERATING OFFICER
As a key member of the senior management team, the COO reports directly to the President/CEO and is responsible for the efficiency of the business including driving revenue, profitability and company growth. The COO assists in developing and implementing the strategic plan of the company in collaboration with the CEO, and Senior Management Team and with the appropriate approvals of the Board of Directors. The COO develops and executes daily operations and management strategies, and establishes policies that promote company culture and vision through its operations. The COO is tasked with facilitating strategic planning and initiatives, change management, financial objectives, and cultural changes aligned with SGC’s overall business objectives. The COO will ensure that the company delivers an outstanding service that is client focused and efficient at all times. The COO provides leadership and success in establishing a company culture that provides excellent customer service in a respectful and supportive environment that enables Team Members to succeed and reflects the mission, vision, and values of the Seneca Gaming Corporation. All duties are to be performed within the guidelines of the Seneca Gaming Corporation’s policies and procedures, Internal Control Standards and objectives.
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