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NAFOA
We appreciate your feedback from the Government Accounting Standards Board (GASB) surveys! Our GASAC representative, Hattie Mitchell, presented the results and tribal feedback at their recent meeting. Missed the surveys? Join the discussion at “Financial Reporting Model 2.0 and Other GASB Topics” #NAFOA2024. Photo courtesy NAFOA
5 Things You Need to Know this Week
Show some love for the Earth that sustains us. Happy Earth Day!
Monday, April 22, 2024
Source: NAFOA

1. CONFERENCE:
#NAFOA2024 SESSION SPOTLIGHT: FINANCIAL WELL-BEING THROUGH TRADITION & TRANSFORMATION
Balancing traditional and western concepts of well-being is a challenge faced by many tribal nations and Native communities. It requires an intensive commitment to include a community’s history and culture while recognizing individual financial circumstances. This discussion will provide two perspectives, the Seminole Tribe of Florida and the Osage Nation, on their journeys to promote financial well-being.

Moderator:
  • Megan Cruz, Research Officer, Federal Reserve Bank of St. Louis

Speakers:
  • Peter Hahn, Treasurer, Seminole Tribe of Florida
  • Geoffrey Standing Bear, Principal Chief, Osage Nation

Register for the Conference

2. MUST READ:
FOSTERING FINANCIAL INCLUSION BY ENSURING CULTURAL FIT: THE CASE OF THE NCDFI INDUSTRY
Native Community Development Financial Institutions (NCDFIs) play a vital role in extending credit to underserved Native communities. Yet, there is no systematic overview in the existing literature of the lending approaches of NCDFIs. Analyzing original interviews with NCDFI leaders, we unveil the core practices and modes of operation in the NCDFI industry.

NCDFIs prioritize comprehensive goals, form strategic partnerships, customize financial and development products and services, and employ inclusive metrics of success. Emphasizing a person-centric approach, NCDFIs aim to enhance financial inclusion while empowering Native communities. Our analysis underscores NCDFIs’ crucial role in fostering financial resilience while maintaining commitment to cultural compatibility.

Source: Center for Indian Country Development Read the Working Paper

3. WEBINAR:
THE ESG ALPHABET SOUP EXPLAINED IN PLAIN ENGLISH FOR FINANCE FOLKS
Thursday, April 25, 2024, 2:00 PM EST

Now that sustainability disclosures are showing up on financial statements, finance teams find themselves on the front lines. It’s overwhelming to decipher decades of sustainability best practices and rapidly changing regulations at the same time.

Further complicating matters, the acronyms feel like an alphabet soup – and they’re changing so quickly it can be tough to figure out which way’s up and what to pay attention to first.

Whether you’re brand new to sustainability reporting or you just need a no-judgement refresh, this session will break down the need-to-knows and what it all means for the teams responsible for ESG reporting efforts – all in plain English. No corporate-speak. No high horse thought leadership. No such thing as silly questions.

All attendees will receive a glossary of key terms and acronyms, as well as a cheat sheet on the global regulatory landscape for reference for the rest of the conference.

Here’s a taste of what the session will cover
  1. A brief history of ESG regulations – why are things changing anyway?
  2. What people mean when they talk in acronyms
  3. Materiality, but make it make sense 
  4. The scoop on scopes 1, 2, and 3 
  5. Carbon accounting is like regular accounting… but cooler

Source: Visual Lease Register to Join

4. MEMBER TRIBE NEWS:
THE LUMMI NATION RECEIVED $9.8 MILLION TO RESTORE THE WATERSHED. HERE’S HOW THEY PLAN TO DO IT.
More than 2,500 Chinook salmon died in the South Fork of the Nooksack River from overheating during the 2021 summer “heat dome” that saw temperatures reach over 100 degrees.

“We really ramped up our efforts in the last 10 to 15 years to bring our salmon back,” Lisa Wilson, Secretary for Lummi Indian Business Council told The Bellingham Herald. “Two years ago we brought that population back to over 3,000, but over 2,500 of them died before they could reach spawning grounds.”

The effort to save the salmon recently received a boost in the form of a $9.8 million federal grant to help restore the watershed.

The South Fork Nooksack Watershed Restoration Project is a combination of five smaller projects across 3.2 miles of the Nooksack River and Skookum Creek in the South Fork Valley, Wilson said. Restoration efforts can only be conducted between mid-July and mid-August, when the salmon population in the river is low, meaning the project itself will take four to five years to complete.

Source: Bellingham Herald Continue Reading

5. JOBS:
NATIVE AMERICAN BANK SEEKING COMMERCIAL LENDER
The Commercial Lender is responsible for originating new commercial relationships and cross selling of existing clients throughout the county.

This position is responsible for negotiating, analyzing, and coordinating the closing of large, complex loan transactions to individual Native American business owners, tribal enterprises, and tribal governments, in compliance with the Bank’s lending policies and procedures. The Commercial Lender is responsible for proactive client portfolio management, exceptional customer service and selling full commercial banking solutions to clients.

Must be familiar with all aspects of the commercial lending process including loan structuring, cash flow analysis, collateral analysis, government regulations and compliance. Experience utilizing federal government agency loan guaranty programs (USDA, SBA, HUD) and working with Native communities is preferred.

Learn More & Apply at nafoa.org/jobs