Financial Management: BIA's Management of the Indian Trust Funds
(Testimony, 09/27/93, GAO/T-AIMD-93-4).
Since April 1991, GAO has testified six times before Congress on the
Bureau of Indian Affairs' (BIA) management of the Indian trust funds and
its efforts to reconcile and audit the trust fund accounts. BIA manages
about $2 billion in tribal money that has accumulated from payments of
claims, oil and gas royalties, land use agreements, and investment
income. Over the years, countless audit reports and internal studies
have cited a litany of serious problems in BIA's oversight of these
accounts. BIA's record has been so poor, in fact, that the Office of
Management and Budget has placed trust fund accounting on its high-risk
list of government programs most vulnerable to waste, fraud, and abuse.
This testimony discusses (1) the status of BIA's efforts to overcome its
past problems; (2) problems that still need to be addressed; and (3)
provisions in H.R. 1846, the Native American Trust Fund Accounting and
Management Reform Act of 1993, that can help BIA resolve some of these
matters.
--------------------------- Indexing Terms -----------------------------
REPORTNUM: T-AIMD-93-4
TITLE: Financial Management: BIA's Management of the Indian Trust
Funds
DATE: 09/27/93
SUBJECT: Trust funds
Financial management
Federal agency accounting systems
Financial records
Funds management
Internal controls
Accounting procedures
Indian lands
Accountability
Fund audits
IDENTIFIER: Native American Trust Fund Accounting and Management Reform
Act of 1993
Indian Trust Fund
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