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The purpose of this Article is to establish uniform standards for financial accounting and reporting for the San Juan Southern Paiute Tribe based on generally accepted accounting principles and governmental and industry standards.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
The provisions of Generally Accepted Accounting Principles (GAAP), including applicable governmental fund accounting and reporting principles and standards, as are promulgated and amended by the American Institute of Certified Public Accountants, are hereby adopted for the San Juan Southern Paiute Tribe government and all of its subordinate organizations.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
All financial resources and other assets of the San Juan Southern Paiute Tribe shall be accounted for in accordance with Generally Accepted Accounting Principles as applicable to governments, and in accordance with the following policies:
A. The accounting records of the San Juan Southern Paiute Tribe shall be maintained within the Tribal Administration Office. Notwithstanding the foregoing, the accounting records of the Tribe may be maintained by an accounting firm contracted by the Tribe to perform accounting services for the Tribe. For those accounting records of subordinate organizations, the subordinate organizations shall maintain their accounting records within their offices or with an accounting firm contracted to provide accounting services for the subordinate organization.
B. The accounting year for the Tribe shall be the fiscal year beginning January 1 and ending December 31.
C. All resources over which the Tribal Council exercises any form of governmental, fiduciary or agent responsibility shall be accounted for within Tribal accounting records and reports, provided
that certain enterprises and subordinate units, with approval from Tribal Council, may maintain
independent accounting and reporting systems in accordance with the provisions of this Title.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
The Tribal Council shall adopt written accounting policies and procedures for all Tribal operations. Such policies shall provide that the financial statements of the Tribe shall be prepared in conformity with Generally Accepted Accounting Principles (GAAP), as applied to government units, promulgated and amended by the Governmental Accounting Standards Board of the American Institute of Certified Public Accountants. Such policies and procedures shall be published annually in conjunction with annual audited financial statements.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
To the extent that any enterprise or internal service fund conducts business, the nature of which cannot
accurately or appropriately be accounted for or reported under any of the foregoing policies, the Tribal Council shall prescribe specific written policies covering the special considerations for such business operation.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
A. Within 30 days after the end of each month, interim financial reports shall be submitted by the Accountant to the Tribal President, Vice-President, Tribal Administrator and Comptroller for review.
B. Such interim financial statements shall include balance sheets and appropriate statements of revenue or income for each fund, but shall not be required to contain extensive notes that are required for audited year-end financial statements. The Comptroller shall include explanatory notes on any major transactions for the period or any other issues that should be considered by the Tribal Council.
C. At each regular monthly Tribal Council meeting, the Accountant shall review the interim financial report with the Tribal Council and present a discussion of any issues requiring attention of the Tribal Council.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
A. Before March 31 of each Fiscal Year, the Accountant shall submit completed Financial Statements for the prior fiscal year to the President, Vice President, Tribal Administrator and Comptroller.
B. Such financial statements shall contain all necessary notes, disclosures and schedules for publication upon certification by the Independent Auditor.
C. Accountants shall schedule a review of the Financial Statements with the Tribal Council, and shall together with the President, Vice President, Tribal Administrator and Comptroller, present a discussion of any issues requiring attention of the Tribal Council.
D. After review with the Tribal Council, the completed Financial Statements shall be submitted to the Independent Auditors selected by the Tribal Council.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
Annual Audits shall be conducted and Audited Financial Statements shall be published in accordance with Article 9 of this Title. Upon completion of work by Independent Auditors, the Comptroller shall cause to be made those adjustments to the final financial statements as recommended by the auditors with which the Comptroller concurs and resubmit them to the Independent Auditors as expeditiously as possible. Any unresolved audit issues which may impact the auditor's opinion or the timely release of audited financial statements shall be addressed in accordance with Article 9 of this Title.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
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