FROM THE ARCHIVE

Full accounting said not 'cost effective'

Facebook Twitter Email
MONDAY, JULY 15, 2002

A House committee won't fund a full historical accounting of the Individual Indian Money (IIM) trust back to 1887 because it won't be "cost effective," The Wall Street Journal reports today.

A Congressional aide told the paper an accounting for the period 1985 to 2000 would cost about $1 billion. The Department of the Interior's own estimate of this portion was $907 million.

But to account for the funds dating to 1887, the inception of the trust, the department estimated a total cost of $2.4 billion over 10 years.

Get the Story:
House Panel Moves to Limit Probe Into Indian Trust Fund (The Wall Street Journal 7/15)

Today on Indianz.Com:
House trust fund bill opposed (7/15)

Relevant Links:
Indian Trust, Department of Interior - http://www.doi.gov/indiantrust
Indian Trust: Cobell v. Norton - http://www.indiantrust.com
Trust Reform, NCAI - http://www.ncai.org/main/pages/
issues/other_issues/trust_reform.asp

Related Stories:
DOI denies involvement in House bill (7/12)
Court monitor releases new report (7/11)
ABC program to focus on Indian trust fund (7/11)
Tribes express doubts on trust reform (7/11)
Norton delivers accounting plan (7/5)
Cobell kicks off Indian Country tour (7/3)
Trust fund monitor defended (7/2)
Historical accounting plan delayed (7/2)
Norton's accounting funds limited (6/28)
Griles can't explain trust standards (6/27)