508 Contents of Fund Authorizing Policies

508 Contents of Fund Authorizing Policies

ยง 508 Contents of Fund Authorizing Policies 
Whenever a policy is recommended to the Tribal Council for the purpose of establishing a separate fund, the policy shall set forth the following provisions: 

A. The name of the fund.

B. The purpose of the fund.

C. The intent of Tribal Council in establishing the fund in order to guide the fund's long-term management.

D. Description of the fund: background/history and the circumstances which created the fund and the expectations and intentions of the Tribal Council regarding the future of the fund.

E. Fund authorization: a policy statement authorizing the creation of the fund and identifying the type of fund for accounting purposes. 

F. Contribution to the fund: a statement regarding the source of contributions or revenues to the fund including a statement regarding the disposition of earnings on the fund.

G. Custody of the fund: a statement regarding the authorized depositories for the purpose of holding the funds on behalf of the Tribe. 

H. Management of fund assets; a statement regarding the management of the assets that direct  their investment. The statement shall identify which investment accounts the funds are to be managed in,
whether they may be commingled with other Tribal funds, and any other pertinent direction. 

I. Authorized uses of the fund: a statement regarding the types of expenditures that may be made from the fund.

J. Appropriation procedures for the fund: a statement indicating the process for appropriating amounts for expenditure from the fund. 

K. Authority for margin borrowing against or leveraging of the fund assets if applicable, including procedures and approvals required for such actions.  

L. Financial and budget reporting: identification of any special reporting requirements and deadlines for reporting that are in addition to those contained within Article 2 of this Title. 

M. Restrictions on spending: directives regarding any restrictions that are placed on the amounts that may be appropriated and expended from the fund. 

N. Target or minimum fund balance: a statement regarding any minimum fund balance, targets or other fund balance objectives. 

O. Implementation and review of the policy: a statement directing the implementation of the fund, the provision for an annual review and the official responsible for such review, and any specific information required by the review. 

[Legislative History: Enacted by Resolution No. 2018-76, 10/19/2018]

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