May 22: 5 Things You Need to Know This Week

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Photo of the Week: Feeling nostalgic for the NAFOA Conference? Photos from #NAFOA2023 are now available in our Flickr album. 

1. FOR TRIBES: TRIBAL CONSULTATION: TRIBALLY CHARTERED CORPORATIONS

Treasury is hosting a Tribal consultation on the tax status of Tribally chartered corporations on Wednesday, June 21, and Thursday, June 22, from 1:00 pm to 4:00 pm ET.

In consultations, Treasury Tribal Advisory Committee meetings, and engagements with Treasury, Tribal governments have requested guidance on the tax status of Tribally chartered corporations to provide certainty for Tribal economic development to support the generation of Tribal government revenue. These requests for guidance have increased as Tribal governments have become eligible for tax credits via the elective pay mechanism under the Inflation Reduction Act. During the November 2022 Tribal consultations on the Inflation Reduction Act, many Tribes requested that their enterprises be able to access these tax credits bringing into question the underlying status of the Federal tax status of Tribally chartered corporations.  

Please see the Dear Tribal Leader Letter for more information, the registration link, and framing questions.

Please note that consultations are off the record and not for press purposes. 

The deadline to submit written comments is Friday, August 18, 2023 at 11:59 p.m. Alaska Time. Written comments should be sent to tribal.consult@treasury.gov.


2. FUNDING OPPORTUNITY: LIVING LANGUAGES GRANT PROGRAM PRE-APPLICATION TRAINING

Virtual Training:  Tuesday, June 6, 2023, at 2:00 pm Eastern Time

The Office of Indian Economic Development (OIED) announced the Notice of Funding Opportunity for the Living Languages Grant Program (LLGP). The FY2023 LLGP solicitation NOFO is now open on grants.gov, with a closing date for applications to be submitted using grants.gov on Friday, August 18th, 2023.  Here is a link to the summary solicitation notice on the Federal Register. Please check this page for additional supporting documents.

OIED anticipates awarding 18-22 grants under this announcement ranging in value from approximately $250,000 to $300,000 in annual funding. LLGP awards will remain active for three years of performance. There is no matching requirement.

Join a pre-application training virtually on Tuesday, June 6, at 2:00 pm Eastern Time to review the Living Languages Grant Program (LLGP) Notice of Funding Opportunity. This webinar will provide an overview of OIED and available resources, discuss the LLGP opportunity, and answer participant questions. Please contact biatap@tribaltecllc.com if you need any assistance.


3. ANOTHER FUNDING OPPORTUNITY: OVERVIEW OF FUNDING AVAILABLE THROUGH INFLATION REDUCTION ACT

Webinar: May 22, 24, 31, and June 1, from 2:30 pm to 4:30pm Eastern Time

USDA Rural Development’s Rural Utilities Service (RUS) announced approximately $11 billion in grants and loan opportunities – the single largest investment in rural electrification since the 1930s – that will help rural energy and utility providers implement affordable, reliable clean energy initiatives for their communities across the country. The PACE program will provide 60% forgivable loans for clean energy projects (wind, solar, biomass, geothermal, and hydropower as well as energy storage) when the Project is owned by an Indian Tribe or Alaska Native Corporation OR the service area consists of 60 percent or more of a Tribal area

RUS will accept Letters of Interest (LOIs) on a rolling basis starting June 30th. Eligible applicants include for-profit organizations, state or local governments, municipalities and utility districts, nonprofits, institutions of higher education, community-based organizations, Federally Recognized Tribes and Alaska Native Corporations. It is expected that these programs may be combined with other Inflation Reduction Act tax incentives. You can find additional information here: Powering Affordable Clean Energy (PACE) program and Empowering Rural America (New ERA) program.

Join one of the scheduled webinars on May 22, 24, 31, and June 1, from 2:30 pm to 4:30pm Eastern Time to learn more. RUS will provide background on the NOFOs for PACE and New ERA that were published in the Federal Register on May 16, 2023. RUS will also provide a brief overview of how these programs compare to other federal clean energy programs in rural America.


4. FINANCIAL MANAGEMENT: SINGLE AUDIT OVERVIEW: UNIFORM GUIDANCE AND COMMON FINDINGS

Webinar: Wednesday, May 24, at 10:00 am Pacific Time

With the recent federal funding in response to the COVID-19 pandemic and passing of the Bipartisan Infrastructure Law, many organizations, governments, and for-profit entities face new compliance requirements and program audits. The single audit is the main way federal agencies can exercise their oversight of the spending of these funds.  

Join Moss Adams for a webcast, Single Audit Overview: Uniform Guidance and Common Findings. We’ll discuss how the generally accepted auditing standards (GAAS) and the government auditing standards apply to the compliance audit.

We’ll also cover strategies to help your organization stay compliant and discuss resources available to help avoid and solve common single audit problems. Other topics include:

  • Overview of what a single audit is and the single audit process
  • What to expect if this is your first single audit
  • Overview of the common programs being audited due to increased funding
  • Common findings resulting from single audits
  • Frequently occurring pitfalls during single audits

5. JOBS: AMERIND IS SEEKING CHIEF FINANCIAL OFFICER

The Chief Financial Officer (CFO) will operate as a trusted financial advisor and strategic partner to AMERIND’s leadership team and board of directors by effective leading enterprise-wide processes for financial planning, forecasting, budgeting, and analysis. This position will work across the organization with functional leaders to support the development, implementation and monitoring of short-term and long-term financial strategies, ensuring the company’s growth, performance and continued success. Provides leadership and coordination in the finance, accounting, IT and budgeting for AMERIND. Ensures that all accounting and financial operations are executed in accordance with the system of internal controls, and all applicable tribal, state, and federal regulations are in accordance with Generally Accepted Accounting Principles and Governmental Accounting Standards, and Statutory Accounting Principles.


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