Indian Trust Fund Testimony Q&As

AIMD-95-33R: Published: Dec 2, 1994. Publicly Released: Dec 2, 1994.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Questions were raised concerning the Department of the Interior's failure to correct serious problems in the management of Indian Trust Funds. GAO noted that: (1) although Interior officials believe that the 6-Point Trust Funds and Trust Asset Management Reform Plans will correct all serious trust fund management problems, the 6-Point Plan falls short of a comprehensive strategic plan; (2) the Bureau of Indian Affairs' (BIA) streamlining plan calls for a 50-percent reduction in staff by the end of fiscal year 1995; (3) Interior officials believe that the Department should establish a G-Fund through the Department of the Treasury for Indian trust fund investments; (4) even if a G-Fund is established, Interior would still need to provide for both investment advisor and custodian services; (5) the American Indian Trust Fund Reform Act of 1994 establishes a mechanism for tribes to assume management and control of their trust funds; (6) the fractionated ownership group, Individual Indian Money (IIM) Reconciliation working group, and the Land Records working group have been formed to resolve issues concerning IIM accounts; (7) the 6-Point Plan does not address a number of fundamental actions needed to resolve trust fund management problems; (8) the BIA streamlining plan lacks a mission statement and information on how BIA will transfer trust fund management to tribes; and (9) a spokesperson for Indian interests would ensure that Indian interests are fully articulated and considered before program and organizational changes.

Feb 18, 2021

Nov 16, 2020

Nov 10, 2020

Nov 9, 2020

Nov 6, 2020

Oct 13, 2020

Sep 30, 2020

Looking for more? Browse all our products here