{"id":24508,"date":"2022-05-23T12:38:59","date_gmt":"2022-05-23T16:38:59","guid":{"rendered":"https:\/\/www.indianz.com\/News\/?p=24508"},"modified":"2022-05-23T12:39:00","modified_gmt":"2022-05-23T16:39:00","slug":"nafoa-5-things-you-need-to-know-this-week-82","status":"publish","type":"post","link":"https:\/\/indianz.com\/News\/2022\/05\/23\/nafoa-5-things-you-need-to-know-this-week-82\/","title":{"rendered":"NAFOA: 5 Things You Need to Know this Week"},"content":{"rendered":"\"NAFOA\"<\/a>
We’re still gushing over the return of our “Leading People and Investing to Build Sustainable Communities” program earlier this month. Special thanks to our partners at Harvard Business School and AFOA Canada! Photo courtesy NAFOA<\/figcaption>\r\n
5 Things You Need to Know this Week<\/div>\r\n
NAFOA values our community\u2014thank you for being a part of it.<\/div>\r\n
Monday, May 23, 2022<\/div>\r\n
Source: NAFOA<\/div>\r\n
nafoa.org<\/a><\/div>\r\n

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1. POLICY:<\/em><\/div>\r\n
DOE SET TO ANNOUNCE TRIBAL ENERGY FUNDING OPPORTUNITY THIS SUMMER<\/div>\r\nLast Friday, the U.S. Department of Energy (DOE) Office of Indian Energy Policy and Programs (Office of Indian Energy) issued a Notice of Intent (NOI) to release a Funding Opportunity Announcement (FOA) this summer.\r\n

<\/p>\r\n“American Indian and Alaska Native communities are home to an abundance of energy resources,” said Office of Indian Energy Director Wahleah Johns. “The $20 million in funding that DOE will soon make available will help tribal nations harness their vast expertise and unmatched ingenuity to bring more energy resilience and security to their lands, decreasing the cost of electric power.”\r\n

<\/p>\r\nThrough this planned FOA, the Office of Indian Energy intends to solicit applications from Indian tribes, Alaska Native Regional Corporations and Village Corporations, Intertribal Organizations, and Tribal Energy Development Organizations, to deploy energy infrastructure on Indian lands.\r\n

<\/p>\r\nWith this funding, the Office of Indian Energy will continue its efforts, in partnership with Native communities, to maximize the deployment of clean energy solutions for the benefit of American Indians and Alaska Natives.\r\n

<\/p>\r\nBetween 2010 and 2021, the Office of Indian Energy invested over $114 million in more than 200 tribal energy projects implemented across the contiguous 48 states and Alaska. These projects, valued at nearly $200 million, are leveraged by over $80 million in recipient cost share.\r\n

<\/p>\r\nSee the Office of Indian Energy website<\/a> for a map and summaries of these competitively funded projects. \r\n

<\/p>\r\nRead the full press release on the NOI<\/a>\r\n\r\n

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The Office of Management and Budget publishes an annual report (called a “crosscut”) on federal funding for programs that benefit Native Americans, but tribal stakeholders have expressed concerns about the report’s transparency. The U.S. Government Accountability Office (GAO) found that agency data shown in the report lacks details about what it represents, making it challenging…<\/p>\n\t\t<\/a>\n\t<\/div>\n\t

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2. REPORT:<\/em><\/div>\r\n
TRIBAL FUNDING: ACTIONS NEEDED TO IMPROVE INFORMATION ON FEDERAL FUNDS THAT BENEFIT NATIVE AMERICANS<\/div>\r\nThe Office of Management and Budget (OMB) provides information to tribal stakeholders and others on agency-reported federal funding for programs that benefit Native Americans (see figure). This information is known as the Native American Crosscut.\r\n

<\/p>\r\nGAO found that five selected agencies\u2014the Departments of Agriculture (USDA), Education, Health and Human Services (HHS), the Interior, and Transportation (DOT)\u2014interpret OMB’s guidance differently when identifying programs and information on federal funding to include in the crosscut. They also take different approaches to reporting data to OMB for a variety of reasons. The crosscut lacks detailed information about what the agency-reported data represent. Tribal stakeholders stated that this lack of detail makes it challenging for them to leverage the data for decision-making. By improving guidance to collect more detailed information from agencies in its request for crosscut data, OMB could help to provide crosscut users with greater clarity about the data being reported and better meet their needs.\r\n

<\/p>\r\nRead the Report from the U.S. Government Accountability Office<\/a>\r\n\r\n

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3. FROM THE NAFOA NAVIGATOR: <\/em><\/div>\r\n
READY OR NOT<\/div>\r\nBy Scott Huebert, Partner, Finley & Cook, P.L.L.C.\r\n

<\/p>\r\nAfter two years of delays and a completely changed world environment, GASB 87 \u2013 Leases, is set to become effective for fiscal years ending on or after June 30, 2022. If you recall, GASB 87 is a major change in how we account for lease agreements. The purpose of this article is to provide a basic understanding of the new pronouncement and to identify the key points to consider in preparations for its implementation. The basic objective of the statement is to quantify and present the full value of the lease on the statement of net position.\r\n

<\/p>\r\nCurrently, if you are in contract with a vendor for a lease it is generally accounted for as an expense during the period you pay for the lease. With GASB 87\u2019s implementation, however, the lease will be a liability for the full life of the lease to be amortized over that lease period. The same is true if you are leasing to another entity the right to use a tribal asset. In that case, a receivable will be created for the life of the lease and amortized over the lease period. With either scenario the result is an increase in assets or liabilities on your statement of net position that wasn\u2019t presented previously.\r\n

<\/p>\r\nRead More in the NAFOA Navigator (pg. 129-130)<\/a>\r\n\r\n

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