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Financial Management: Native American Trust Fund Management Reform Legislation

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Report Type Reports and Testimonies
Report Date Aug. 11, 1994
Report No. T-AIMD-94-174
Subject
Summary:

GAO work reviewing Bureau of Indian Affairs (BIA) trust fund financial management has shown that BIA's systems, internal controls, and policies and procedures do not provide assurance that Indian trust fund balances, reported as $2.1 billion at the end of fiscal year 1993, are accurate, or that Indian natural resource assets are adequately managed by Bureau of Land Management and the Minerals Management Service to ensure that maximum revenue is generated for tribal and individual Indian trust beneficiaries. During the past year, the Secretary of the Interior has placed greater emphasis on Indian trust programs, initiatives that are important first steps to improving Indian trust fund and asset management programs and operations. Pending trust fund management reform legislation would enhance trust financial management reform initiatives underway at the Department of the Interior.

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