Indian Trust Fund Testimony Q&As
AIMD-95-33R: Published: Dec 2, 1994. Publicly Released: Dec 2, 1994.
Additional Materials:
- Full Report:
Contact:
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
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Financial Audit:
Federal Deposit Insurance Corporation Funds' 2020 and 2019 Financial StatementsGAO-21-284R: Published: Feb 18, 2021. Publicly Released: Feb 18, 2021.
Nov 16, 2020
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Financial Audit:
Bureau of Consumer Financial Protection's FY 2020 and FY 2019 Financial StatementsGAO-21-174R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Federal Housing Finance Agency's FY 2020 and FY 2019 Financial StatementsGAO-21-201R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Securities and Exchange Commission's FY 2020 and FY 2019 Financial StatementsGAO-21-192R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020.
Nov 10, 2020
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Financial Audit:
IRS's FY 2020 and FY 2019 Financial StatementsGAO-21-162: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020. -
Financial Audit:
Office of Financial Stability's (Troubled Asset Relief Program) FY 2020 and FY 2019 Financial StatementsGAO-21-173R: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020.
Nov 9, 2020
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Financial Audit:
Bureau of the Fiscal Service's FY 2020 and FY 2019 Schedules of Federal DebtGAO-21-124: Published: Nov 9, 2020. Publicly Released: Nov 9, 2020.
Nov 6, 2020
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FY 2020 Excise Tax:
Agreed-Upon Procedures Related to Distributions to Trust FundsGAO-21-163R: Published: Nov 6, 2020. Publicly Released: Nov 6, 2020.
Oct 13, 2020
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DOD Financial Management:
Continued Efforts Needed to Correct Material Weaknesses Identified in Financial Statement AuditsGAO-21-157: Published: Oct 13, 2020. Publicly Released: Oct 13, 2020.
Sep 30, 2020
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Financial Management:
DOD Needs to Implement Comprehensive Plans to Improve Its Systems EnvironmentGAO-20-252: Published: Sep 30, 2020. Publicly Released: Sep 30, 2020.
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