Insight in Indian Country REDW Advisors & CPAs

On May 16, the New Mexico Society of CPAs (NMSCPA) is hosting their Second Annual Tribal Conference focused on tribal enterprises, cohosted by REDW Advisors and CPAs. Wes Benally is joined by fellow REDW Principals Victor Flores and Chris Henderson to touch on conference topics including tribal economics, entrepreneurship, and impact investing with native-owned businesses. 
Victor and Cait Gutierrez, REDW Internal Audit Senior Manager, will join a lineup of respected speakers at the event. Their sessions will provide valuable perspectives and actionable knowledge on economic development and entrepreneurship within Native communities. The conference aims to foster learning, networking, and collaboration among tribal enterprises and professionals.

Not in New Mexico? Not a problem! Attendees can join in person or virtually.

This conference also offers up to 4.0 Continuing Professional Education (CPE) credits, adding extra value for attending professionals seeking to advance their knowledge and expertise.

Chapters
00:00 - Introduction to the NMSCPA Tribal Conference
06:58 - Tribal Enterprises and Other Industries in Indian Country
11:12 - Innovative Business Models in Tribal Enterprises
15:35 - Learning and Networking at Conferences
24:23 - Taking Action and Implementing Ideas

References
Event info: New Mexico Society of CPAs (NMSCPA) Second Annual Tribal Conference - May 16, 2024 Register for in-person attendance for the Second Annual Tribal Conference hosted by NMSCPA and REDWAddress: 3400 Menaul Blvd NE, Albuquerque, NM 87107Register for virtual attendance for the Second Annual Tribal Conference hosted by NMSCPA and REDWGet connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

Tribal fiduciaries have a responsibility to follow sound fiscal practices and fulfill their duty of care. This episode, Wes Benally and Paul Madrid discuss the Tribal fiduciary role and reducing risk in the management of employer-sponsored retirement plans. Paul explains the unique challenges tribal fiduciaries face, the importance of following fiduciary responsibilities, and introduces REDW's retirement plan sponsor scorecard—a tool specially designed to help Tribes assess their retirement plan management.

The scorecard consists of 14 questions that cover areas such as investment policies, goals and objectives, and the effectiveness of education programs. Paul emphasizes the significance of having an investment committee and providing education to plan participants and highlights the role of accredited investment fiduciaries in sound fiscal practices.

Takeaways
The retirement plan sponsor scorecard helps tribes assess their retirement plan management and identify areas for improvement.Key areas covered by the scorecard include investment policies, goals and objectives, and the effectiveness of education programs.Having an investment committee and providing education to plan participants are crucial for successful retirement plan management.Accredited investment fiduciaries play a significant role in sound fiscal practices and reducing risk.Chapters
00:00 - Introduction to Managing Employer-Sponsored Retirement Plans
02:09 - Introducing the Retirement Plan Sponsor Scorecard
05:13 - Understanding Fiduciary Responsibilities and Risk Management
08:56 - The Importance of Investment Policies and Committees
12:23 - Providing Education and Support to Plan Participants
21:29 - Taking the Retirement Plan Sponsor Scorecard
24:24 - Conclusion and Invitation to NEFO Conference

References
Read: Fiduciary Risk Management for Retirement Plan SponsorsLearn More: REDW's 14-Question Retirement Plan Sponsor Scorecard for TribesEvent: NAFOA's 42nd Annual Conference - April 29 @ Seminole Hard Rock HotelWealth Management Disclosure Statement
© 2024 REDW Wealth LLC. This publication is intended for general informational purposes only and should not be construed as investment, financial, tax, or legal advice. Information and instruction shared in the article above do not guarantee outcomes, performance, or quality of services provided to REDW Wealth Management clients by REDW Wealth Management or its employees. Adherence to our fiduciary duty is not a guarantee of client satisfaction or any particular outcome. Advisory, Assurance, and Tax is offered through REDW LLC. Wealth Management is offered through REDW Wealth LLC.
Get connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

Our celebration of Women's History Month continues with Hattie Mitchell, a senior manager in client advisory and accounting services. Hattie shares her journey as a professional and member of the Prairie Band Potawatomi Nation with REDW National Tribal Practice Leader and show host, Wes Benally. She discusses the inspiration she drew from her family's involvement in tribal finance, and talks about her involvement in the Governmental Accounting Standards Advisory Council (GASAC) and the unique reporting needs of tribal governments.

Chapters
00:00 Introduction
00:28 Hattie's Background and Inspiration
07:06 Governmental Accounting Standards Advisory Council
12:26 Finance Certificate Program and Teaching
19:00 Dealing with Stress and Challenges
20:29 Advice for Young Professionals
22:20 Closing Remarks

References
2024 Governmental Accounting Standards Advisory Council (GASAC) Technical Agenda Prioritization - For Tribal Leaders and Tribal Financial Professionals - The GASAC is seeking feedback from members in prioritizing the GASB's Technical Plan. Provide your responses by Monday, April 8, 2024.GASAC April 15-16 Live Meeting Info - Available by webcast. If planning to observe a meeting, please provide notification no later than 48 hours before the meeting. Find details here.Contact Hattie Mitchell by email.2024 Indian Gaming Tradeshow and Convention - The largest gathering of tribal leaders and casino executives in the country, the Indian Gaming Tradeshow & Convention is now in its 31st year and continues to deliver the insight and strategies needed to succeed in the competitive gaming industry. REDW Gaming Operations Manager Kandi Link to Speak in The Smart Casino: Embracing Technology and the Modern Gaming Floor.

Get connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

Happy Women's History Month! In this episode, REDW Principal and National Tribal Practice Leader Wes Benally interviews Colaine Curtis, a senior manager and client advisor. Colaine shares her journey as a Diné woman in the accounting profession, discussing her early career working for tribal organizations, transition to public accounting, and the rewards and challenges of her work. She offers advice for those considering a career in accounting and emphasizes the importance of indigenous representation in the field.


Chapters
00:00 - Introduction and Background
04:03 - Early Career and Experience
06:23 - Working in Startups and Tribal Organizations
09:03 - Transition to Public Accounting
10:41 - Motivation and Rewards in the Field
21:50 - Decrease in Enrollment and Indigenous Representation
28:18 - Closing Remarks and Appreciation

References
Careers at REDW - REDW has served Sovereign Tribal Nations for over 40 years. Our team members understand and respect tribal sovereignty and culture and have become deeply invested in the financial well-being of tribal communities. Learn more about our current career opportunities at redw.com/careers.OTFC Spring Conference - The Oklahoma Tribal Finance Consortium (OTFC) Spring 2024 Conference is almost here! We'll see you March 27th - 29th at Indigo Sky Casino Resort in Wyandotte, OK. Register or learn more at oktribalfinance.com.Get connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

REDW cybersecurity expert Brian Grayek is back to discuss security risks and solutions for Tribal Nations with National Tribal Practice leader and podcast host, Wes Benally.

Recent nationwide efforts for Tribes to access FEMA cybersecurity grant funding were met with challenges during the application process, preventing some Tribes from receiving critical funding. In their discussion, Brian and Wes are highlighting the importance of having a comprehensive cyber plan and detailed project plans when applying for grants. They also discuss the risks of not receiving funding and the need for internal funding to improve security infrastructure. What's the best way for Tribes to prepare for future cybersecurity grant opportunities that are bound to come? We're discussing resources available to help Tribes do just that. Tune in!

Chapters
00:00 Introduction and Background
02:31 Gap in Tribe's Ability to Apply for Cybersecurity Grants
05:30 Cybersecurity Risks and Costs to Organizations
08:20 Preparing for Future Cybersecurity Grants
12:19 Using Security Scorecards as a Tool
20:18 Conclusion and What to Do Next

Takeaways
Having a comprehensive cyber plan and detailed project plans is crucial when applying for cybersecurity grants.Tribal nations face cybersecurity risks and need to allocate internal funding to improve security infrastructure.Starting early and seeking professional assistance is recommended to prepare for future cybersecurity grants.Using security scorecards can help assess and improve cybersecurity measures.Get connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

This episode, REDW National Tribal Practice Leader Wes Benally is discussing the Inflation Reduction Act and its impact on Tribal Nations with Senior State and Local Tax Manager Thomas Miller. They explore the provisions in the act that provide opportunities for investment in energy, infrastructure, and climate resilience programs for Tribes. Their conversation highlights the allocation of funds to tribal communities and the specific programs available for funding, and it emphasizes the importance of staying proactive and informed about the funding opportunities and the process of getting registered.

Tribes shouldn't miss exploring the eligibility of their projects and should seek consultations and training to maximize the benefits of the act!

Takeaways


The Inflation Reduction Act presents major opportunities for investment in energy, infrastructure, and climate resilience programs for tribal nations.Tribes can access over $720 million allocated to Indian country for climate and energy advancements.Funding opportunities include high efficiency electric home rebate programs, tribal energy loan guaranteed programs, tribal electrification programs, tribal climate resilience programs, and more.Tribes should stay proactive and informed about the funding opportunities, review eligibility criteria, and seek consultations and training to maximize the benefits of the act.
Chapters

00:00 Introduction and Background
01:43 Overview of the Inflation Reduction Act
03:08 Allocation of Funds for Tribal Communities
05:01 Funding Opportunities for Tribes
07:13 Specific Programs for Tribal Communities
08:42 Qualifying for IRA Programs
10:07 Administration of Funds
11:15 Relevant Funding Opportunities
13:20 Rural Energy for America Program
15:08 Staying Proactive and Informed
16:05 Projects Eligible for Funding
17:10 Process of Getting Registered
18:17 Consultations and Training
20:01 Considerations for Funding Eligibility
21:22 Importance of Reviewing Eligibility
22:12 Conclusion


Get connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!