On May 16, the New Mexico Society of CPAs (NMSCPA) is hosting their Second Annual Tribal Conference focused on tribal enterprises, cohosted by REDW Advisors and CPAs. Wes Benally is joined by fellow REDW Principals Victor Flores and Chris Henderson to touch on conference topics including tribal economics, entrepreneurship, and impact investing with native-owned businesses.

Victor and Cait Gutierrez, REDW Internal Audit Senior Manager, will join a lineup of respected speakers at the event. Their sessions will provide valuable perspectives and actionable knowledge on economic development and entrepreneurship within Native communities. The conference aims to foster learning, networking, and collaboration among tribal enterprises and professionals.

Not in New Mexico? Not a problem! Attendees can join in person or virtually.

This conference also offers up to 4.0 Continuing Professional Education (CPE) credits, adding extra value for attending professionals seeking to advance their knowledge and expertise.

Chapters
00:00 - Introduction to the NMSCPA Tribal Conference
06:58 - Tribal Enterprises and Other Industries in Indian Country
11:12 - Innovative Business Models in Tribal Enterprises
15:35 - Learning and Networking at Conferences
24:23 - Taking Action and Implementing Ideas

References

• Event info: New Mexico Society of CPAs (NMSCPA) Second Annual Tribal Conference - May 16, 2024
• Register for in-person attendance for the Second Annual Tribal Conference hosted by NMSCPA and REDW
  • Address: 3400 Menaul Blvd NE, Albuquerque, NM 87107
• Register for virtual attendance for the Second Annual Tribal Conference hosted by NMSCPA and REDW

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REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

Tribal fiduciaries have a responsibility to follow sound fiscal practices and fulfill their duty of care. This episode, Wes Benally and Paul Madrid discuss the Tribal fiduciary role and reducing risk in the management of employer-sponsored retirement plans. Paul explains the unique challenges tribal fiduciaries face, the importance of following fiduciary responsibilities, and introduces REDW's retirement plan sponsor scorecard—a tool specially designed to help Tribes assess their retirement plan management.

The scorecard consists of 14 questions that cover areas such as investment policies, goals and objectives, and the effectiveness of education programs. Paul emphasizes the significance of having an investment committee and providing education to plan participants and highlights the role of accredited investment fiduciaries in sound fiscal practices.

Takeaways

• The retirement plan sponsor scorecard helps tribes assess their retirement plan management and identify areas for improvement.
• Key areas covered by the scorecard include investment policies, goals and objectives, and the effectiveness of education programs.
• Having an investment committee and providing education to plan participants are crucial for successful retirement plan management.
• Accredited investment fiduciaries play a significant role in sound fiscal practices and reducing risk.

Chapters
00:00 - Introduction to Managing Employer-Sponsored Retirement Plans
02:09 - Introducing the Retirement Plan Sponsor Scorecard
05:13 - Understanding Fiduciary Responsibilities and Risk Management
08:56 - The Importance of Investment Policies and Committees
12:23 - Providing Education and Support to Plan Participants
21:29 - Taking the Retirement Plan Sponsor Scorecard
24:24 - Conclusion and Invitation to NEFO Conference

References

• Read: Fiduciary Risk Management for Retirement Plan Sponsors
• Learn More: REDW's 14-Question Retirement Plan Sponsor Scorecard for Tribes
• Event: NAFOA's 42nd Annual Conference - April 29 @ Seminole Hard Rock Hotel

Wealth Management Disclosure Statement
© 2024 REDW Wealth LLC. This publication is intended for general informational purposes only and should not be construed as investment, financial, tax, or legal advice. Information and instruction shared in the article above do not guarantee outcomes, performance, or quality of services provided to REDW Wealth Management clients by REDW Wealth Management or its employees. Adherence to our fiduciary duty is not a guarantee of client satisfaction or any particular outcome. Advisory, Assurance, and Tax is offered through REDW LLC. Wealth Management is offered through REDW Wealth LLC.

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REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!

Our celebration of Women's History Month continues with Hattie Mitchell, a senior manager in client advisory and accounting services. Hattie shares her journey as a professional and member of the Prairie Band Potawatomi Nation with REDW National Tribal Practice Leader and show host, Wes Benally. She discusses the inspiration she drew from her family's involvement in tribal finance, and talks about her involvement in the Governmental Accounting Standards Advisory Council (GASAC) and the unique reporting needs of tribal governments.

Chapters
00:00 Introduction
00:28 Hattie's Background and Inspiration
07:06 Governmental Accounting Standards Advisory Council
12:26 Finance Certificate Program and Teaching
19:00 Dealing with Stress and Challenges
20:29 Advice for Young Professionals
22:20 Closing Remarks

References

• 2024 Governmental Accounting Standards Advisory Council (GASAC) Technical Agenda Prioritization - For Tribal Leaders and Tribal Financial Professionals - The GASAC is seeking feedback from members in prioritizing the GASB's Technical Plan. Provide your responses by Monday, April 8, 2024.
• GASAC April 15-16 Live Meeting Info - Available by webcast. If planning to observe a meeting, please provide notification no later than 48 hours before the meeting. Find details here.
• Contact Hattie Mitchell by email.
• 2024 Indian Gaming Tradeshow and Convention - The largest gathering of tribal leaders and casino executives in the country, the Indian Gaming Tradeshow & Convention is now in its 31st year and continues to deliver the insight and strategies needed to succeed in the competitive gaming industry. REDW Gaming Operations Manager Kandi Link to Speak in The Smart Casino: Embracing Technology and the Modern Gaming Floor.
  
  

Get connected to expert insights for Tribal Nations. Subscribe to the Insight in Indian Country Newsletter.

REDW Advisors and CPAs is proud to bring you the Insight in Indian Country Podcast, covering important advisory, accounting, and finance topics that impact Tribal Nations and business affairs. Thanks for listening!