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The purpose of this Article is to:
A. Establish guidance for an effective financial planning system that will enable the Tribal Council to effectively forecast financial resources and requirements to measure the potential impacts of Tribal Council decisions on Tribal finances.
B. To support prudent financial decisions and goal setting and to provide guidance for formal decisions regarding risk.
C. To maximize the financial return on the investments of Tribal funds.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
The financial management planning system shall incorporate:
A. Documentation and standards to ensure the quality of financial forecasts.
B. The presentation of updated financial and budget estimates each month and at such other times as major financial decisions are placed before the Tribal Council.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
A. Tribal funds shall be invested in accordance with approved investment policy statements adopted by the Tribal Council and fund source restrictions, if applicable.
B. Each investment policy statement shall incorporate all pertinent information related to the purpose and intent of the fund(s) as described in Article 5 of this Title and in addition shall set forth:
1. The expected liquidity requirements of the investment account.
2. The anticipated time horizon over which the fund will be invested.
3. The types of securities in which the assets of the fund may be invested.
4. The specific risk tolerances of the fund.
5. The strategic allocation between differing classes of investment instrument in which the fund will normally be invested and allowable variances.
6. The anticipated yield of the fund expressed in comparison to appropriate indexes.
7. The nature of account (i.e.: custodian or brokerage accounts) within which the securities of the fund will be held.
8. Names and responsibilities of all parties to the management of the assets, including the Tribal Council, Officers and Directors who may be assigned to such responsibilities.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
An evaluation of the performance of all investment portfolios, mutual funds and money managers selected to oversee the investment of funds shall be conducted by the Tribal Council not less frequently than one time each year and at such other times as deemed necessary by the Tribal Council.
[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]
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