The Confederated Tribes of the Grand Ronde Community of Oregon [Ordinances]

	ORIGINALLY ADOPTED: 9/1/93
	DATE AMENDED: 7/27/94; 10/30/02
	SUBJECT:___Fiscal Management
	RESOLUTION NUMBER: 059-93; 049-94; 168-02

Fiscal Management Ordinance

Chapter 300

(a) PURPOSE: To set forth uniform policies and standards to ensure that the Tribe maintains the highest standard of fiduciary care in utilizing, managing and protecting Tribal assets. The Council has determined that uniform policies and standards are required to ensure all Tribal Divisions exercise proper care in the use and management of Tribal assets.

(b) BACKGROUND: The Tribal Council, as the Tribe's governing body, has fiduciary responsibility to efficiently manage and protect Tribal assets. It is the intent of the Council that all Tribal Divisions exercise fiduciary care in the use and management of all Tribal resources.

(c) GENERAL POLICY: Every Tribal Council member, committee member, employee and individual who serves the Tribe in any capacity shall be expected to protect and manage Tribal resources in accordance with generally accepted standards and in keeping with good stewardship practices.

(d) DEFINITIONS:

(1) Tribal Division: Any department, division, committee or office of the Tribe, the Grand Ronde Tribal Health Authority, the Grand Ronde Housing Authority, the Grand Ronde Gaming Commission, and the Election Board.

(2) Tribal Governmental Corporation: Shall have the meaning given in the Governmental Corporations Ordinance.

(e) FINANCE OFFICER: There is hereby created the position of Finance Officer (" FO") in the Finance Department of the Tribe. The FO shall serve as the primary financial executive of the Tribe. As such he/ she shall direct the Tribal government's accounting practices, financial planning, management and reporting. The FO shall have financial oversight responsibility for all Tribal Divisions and Tribal Governmental Corporations. The FO shall report directly to the Tribal Council.

(f) FINANCIAL STANDARDS:

(1) Revenue and Depositories:

(A) Unless otherwise directed, or as needed to maximize tribal assets, all monies of the Tribe shall be deposited in accounts collateralized by the respective financial institution or insured by the Federal Government as to both principal and interest.

(B) Monies not used for current operating expenses shall be invested pursuant to the Tribe's then-current Investment Policy Statements (" IPS").

(C) The Council may also deposit monies into "Tribal Reserves." A two-thirds (2/ 3) vote of those voting in a duly authorized Tribal Council meeting in which a quorum is present is required to create a Reserve. The Reserve will become a Trust fund of the Tribe.

(i) Once established, the Reserve may not be abolished or reduced except by amendment to the Tribal Constitution or by a unanimous vote of the full Council at a regular Council meeting. Notwithstanding any other provision of law, said vote may not be taken until the following steps have been taken:

(A) The change in the reserve must be discussed as an agenda item at a previous regular Tribal Council meeting,

(B) After discussion at a Tribal Council meeting, the change must then be discussed as an agenda item at a regular General Council meeting.

(ii) Any increase in a reserve must be adopted by a majority vote of the Tribal Council.

(iii) The purpose, policies and rules governing the operation of the Reserve must be clearly stated in the resolution establishing the Reserve. Examples of such Reserves are Endowment Fund, Pension Fund, Scholarship Fund, Housing Fund, etc.

(2) Accounting:

(A) All financial resources and other assets of the Tribe shall be accounted for in accordance with Generally Accepted Accounting Principles (" GAAP"), and in accordance with the following:

(i) The accounting records of the Tribe shall be maintained by the Finance Department, provided, however, that records of Tribal Governmental Corporations may be maintained consistent with their respective corporate charters or articles of organization, subject to inspection and review by the FO and his/ her designee.

(Ii) The accounting year for the Tribe shall be the calendar year (twelve (12) months ending December 31).

(iii) All resources over which the Tribal Council exercises any form of governmental, fiduciary or agency responsibility shall be accounted for in Tribal accounting records including all Tribal Governmental Corporations.

(iv) Assets having an acquisition cost or value in excess of $5,000 and useful life in excess of one year shall be capitalized within the accounting records of the Tribe.

(B) Audited financial statements, including all informational notes and disclosures shall be published by the Tribe for each year for all financial activities, within seven months after the end of each calendar year. Such statements shall be provided to all members of the Council and made available for inspection, upon request, to any adult member of the Tribe.

(C) The FO shall ensure that interim financial reports are provided to the Tribal Council on a monthly basis.

(3) Borrowing:

(A) No borrowing or other financing arrangement shall be entered into on behalf of the Tribe unless authorized by the Council by resolution.

(B) For the purposes of (A) above, leases or rental agreements, the terms of which exceed three years and/ or $100,000 shall be considered financing arrangements.

(4) Audits: The FO shall establish procedures to safeguard all Tribal assets and provide for accurate and consistent accounting of all financial transactions of the Tribe.

(A) Internal Audit: The FO shall conduct such audits and examinations of financial and program records as are considered necessary to ensure the financial and programmatic integrity of Tribal operations and records.

(B) External Audit: The FO shall recommend and the Council shall select firms of independent Certified Public Accountants who shall conduct annual audits of all of the financial operations and records of all governmental, for-profit, and not-for-profit entities of the Tribe for each calendar year.

Audits shall be conducted in accordance with Generally Accepted Auditing Standards and shall provide for all financial statements and other reports required by the Tribe, the Federal Government and any other funding source. The report of such auditors shall be addressed and directed to the Tribal Council. The FO shall schedule and coordinate such audit in a manner which facilitates delivery of completed audit reports in a timely manner.

(g) RECORDS MANAGEMENT: The FO shall establish policies and procedures for the effective organization, maintenance, storage, retrieval and safeguarding of Tribal financial records. Special care shall be given to any record determined to have present or future cultural or historical significance to the Tribe.

(h) INSURANCE AND BONDING:

(1) The FO shall obtain such insurance policies as are considered necessary to protect the interests of the Tribe. The policies shall include the following:

(A) Liability insurance that covers the Tribal Council, Officers, Managers and other appropriate employees of the Tribe.

(B) Employee fidelity bond covering all employees having access to monies and other assets of the Tribe.

(C) Property and casualty policies providing for the replacement of assets lost due to fire, theft or other casualty.

(D) Such other liability policies as the FO deems necessary to protect the Tribe.

(2) The FO may recommend and Council may approve self-insurance programs to reduce the overall cost of insuring against losses.

(i) APPLICABILITY OF FEDERAL AND OTHER LAWS: The FO shall establish such policies and procedures as considered necessary to carry out the provisions of this Ordinance, any applicable Federal laws and regulations, and any other legal requirements of funding sources other than the Federal government.

I certify this to be a true copy of the Confederated Tribes of Grand Ronde Fiscal Management Ordinance.

__________________
Tribal Council Secretary

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