Inaugural Tribal Accounting Conference November 16th & 17th, 2015 The Linq Las Vegas, NV 1
Monday, November 16th 7:45 8:45am Registration/ Breakfast 8:45 9:00am Opening Remarks Justin O Connor President Native Nation Events 9:00 10:15am The New Super Circular The US Office of Management and Budget (OMB) released the updated Super Circular on December 26, 2013. Federal agencies had one year to implement. This release has ushered in the largest rewrite of pre- and post-award grant policy-what exactly are those changes? What s new, what s gone away? With the new guidelines, anyone who works on Grants in your organization needs to be familiar with the Super Circular grant seekers, grant recipients and awarding agencies. The new Super Circular fills 103 three-column pages in the Federal Register, but what is the big picture of federal grant reform? Understand the impact of the change in grants from gifts to assistance and the terms and conditions that bind the grantor and grantee. Explore the impact of these changes- benefits, burdens, and risks. The new grant design environment can become competitive. How will newly formed and smaller organizations be able to compete successfully? Explore the changes and need for increased monitoring in financial reporting, internal control requirements, cost principles, and audit requirements. How to handle Procurement Changes Micropurchases, Small Purchase It s important to know the provisions that apply to your specific type of organization. Explore updating policies and procedures to successfully implement the new rules. Moderator: Lupita Martinez, CPA Senior Manager Moss Adams LLP Morgan Aronson, CPA, CGFM National Single Audit Coordinator Department of the Interior Office of the Inspector General Denis Adams Senior Technical Manager Sean McCabe Managing Shareholder Anuskewicz & McCabe, CPA 2
10:15 10:45am Monday, November 16th Coffee Break & Networking Opportunity 10:45 11:30am Best Practices Executing your Accounts Receivable process - What are some of the best practices you could use to improve the receivables process? Examine the benefits of mobile imaging for accounts receivable to help improve user experience for customers while generating ROI for institutions. Three top goals that senior management has for Accounts Payable: Cut Costs, Reduce Staff and Improve Timeliness. Is your AP department doing what you need it to for your tribe? Discover AP strategies that can increase efficiency and modernize your system. Explore how automation can help you cut costs and complexity as well as improve your financial decisionmaking ability by using a streamlined, automated process. Sean McCabe Managing Shareholder Anuskewicz & McCabe, CPA Joseph Eve Managing Partner 11:30 12:15pm The Affordable Care Act and How It Affects Native America The Affordable Care Act (ACA) requires that Americans have health coverage or face a tax penalty, but Alaska Native and American Indian people have special protections and benefits. Explore information on exemption rules and regulations. How and when to apply for the exemption to avoid the tax penalty - IRS Tax Form 8965, titled Health Coverage Exemptions. What do you do if you already have health care coverage? Can you apply for the Indian Exemption anytime you have a gap in health care coverage? There are special benefits in the ACA for Alaska Native and American Indian people who chose to purchase health care coverage. The federal government may pay out-of-pocket costs like deductibles, copayments, and coinsurance. Can you still have insurance if you don t purchase health care coverage? It is important to know that you and your family will still be able to get health care services at Tribal health facilities. Learn more about the Tribally-Sponsored Health Insurance project. Anita Shah DeHaan, CPA Senior Manager Moss Adams LLC 3
12:15 1:15pm Monday, November 16th Lunch & Networking Opportunity 1:15 2:45pm Preparing for an Audit If your Tribe is receiving federal funding, you are required to have an annual financial audit by an independent auditor. The importance of these annual audits is critical to the overall financial success of the Tribe. Failure to provide these audits can result in the Tribe being placed on a high-risk status and facing rescission of its federal programs by the Department of the Interior. Explore the audit process, standards, and variances for each type of audit and make sure your tribe is prepared. Understanding the two types of financial statements for Tribes: Fund Financial vs. Government Wide Who prepares the Financials? (Tribe, auditor, or 3rd party, etc.) Keeping up with updates from GASB (Government Accounting Standards Board) and GAAP (Generally Accepted Accounting Principles) as well as OMB. Moderator: Jim Erenzo President & CEO Collective Strategies Becky Carter Accounting Manager Morgan Aronson, CPA, CGFM National Single Audit Coordinator Department of the Interior Office of the Inspector General Darryl Multine Chief Financial Officer NAPI-Navajo Agricultural Products Industry 2:45 3:15pm Afternoon Break & Networking Opportunity 4
3:15 4:15pm Monday, November 16th Launching or Upgrading Enterprise Resource Planning (ERP) Systems ERP refers to automation and integration to help manage a company or organization s core business and enable them to focus on effectiveness and simplified success. Tribal communities today have more services offered that demand careful tracking and integration with other data. Does your tribe need an ERP system? How can ERP systems help your tribe and improve your daily financial work? The importance of integrated data- how Excel and Word can only do so much. Users often need to be able to integrate needed profiles. Navigating your way through the process of choosing a system can be daunting and confusing. How can you determine which system is best for your tribe s needs? Chose an ERP system that will grow with your business, allow for seamless systems integration, and do your research. Explore the keys to success in optimizing your ERP system and the benefits of optimizing your system. Does your tribal ERP system cover all entities owned and operated under the umbrella of the tribe as the parent organization? Stephen Hughes Software Department Manager Joseph Eve Managing Partner 4:15pm Day One Adjourns 5
Tuesday, November 17th 7:30 8:30am Breakfast & Networking Opportunity 8:30 9:15am The General Welfare Exclusion Doctrine The Tribal General Welfare Exclusion Act of 2013 passed both the House and Senate with strong bipartisan support and numerous co-sponsors, including all of Alaska s congressional delegation. The IRS issued formal instructions on how to deal with tribal welfare programs, and gave tribes the benefit of the General Welfare Doctrine, which allows federal, state, and local governments to operate taxexempt social programs. What is not taxed? The legislation includes temporary suspension of the targeted audits and a mandate for IRS field officers to receive training in federal Indian law, training that should include Tribal representatives. The IRS can no longer harass Tribes with audits or threaten sovereignty. A Tribal Advisory Committee within the Treasury that will advise the Secretary on Indian tax policy will be created. What does this mean for Native Americans? Benjamin Hancock, CPA Assurance Senior Manager Moss Adams LLP Denis Adams Senior Technical Manager 9:15 10:00am Employment Tax & Procurement Card (P-Card) Program If Tribal gaming operations have compensated workers, the operation is subject to employment taxes. What taxes are tribal gaming operations required to pay and from what are you exempt? IRS forms to file for compensated workers - independent contractor vs. employee Know when to report tip income and at what threshold tips are wages that become subject to FICA and federal income tax withholding. Explore how to make federal tax payments and when to make deposits. Discover how tribes and tribal operations handle payroll and payroll auditing. Learn how P-Cards add value and can impact your organization. Discover how to successfully manage a P-Card program. Understand the difference between GSA and non-gsa P-Card financing. Identify which risk and internal controls are needed to avoid P-Card abuse and fraud. Maeora M. Mosieur, CPA Director of Accounting CEDCO; The Mill Casino-Hotel-RV Park 6
Tuesday, November 17th 10:00 10:15am Morning Break & Networking Opportunity 10:15 11:00am Reporting - Tribal Gaming Title 31 The Tribal Gaming Industry saw multiple regulatory changes to the Bank Secrecy Act. It is evident by the newly adopted NIGC regulations and the interpretation of Title 31/BSA regulations that all casinos are not the same and different internal controls need to be in place and embraced by each facility. Do you know all the current issues and changes in Title 31 and Tax Reporting for your gaming property? Understand the current Title 31 and tax reporting requirements in order to protect Tribal assets and help ensure your gaming operation is in compliance with regulations. Discuss some of the potential pitfalls of reporting, documentation, and data accumulation and what you can do to avoid them. What are the recordkeeping requirements for all financial institutions? Review changes to FinCEN Title 31 requirements. Review Customer identification and withholding requirement policies for IRS reporting. Review current IRS reporting requirements for customer gaming activities W2G, 1099, 1042-S, etc. What are the differences and when is each used? Josh Benefield Client Relations Specialist Grant Eve Partner 11:00 11:45am New Class II MICS and Anti-Money Laundering Programs The Tribal Gaming Industry saw multiple regulatory changes to NIGC Class II MICS in 2014. Explore the differences between Class I, Class II, and Class III gaming operations. Review the new internal control regulations, their implementation, the testing procedures and requirements, and the auditing process. Each casino must develop and implement a written anti-money laundering program, and each casino must produce its own program based on an analysis of its products and services. An effective program is designed to prevent the casino from being used to assist in money laundering and terrorist financing. Have you created your program yet? Charlie Parker Client Relations Specialist Grant Eve Partner 7
Tuesday, November 17th 11:45 12:30pm Grant Management Are you aware of the new mandatory disclosures required to your grantors? Did you know the Tribe must now report conflicts of interest to the Federal government? Explore when the funding agency should be contacted regarding purchases. Examine record retention requirements Best practices for documenting grant matching How best to account for program income. Becky Carter Accounting Manager 12:30pm Conference Adjourns We Sincerely Appreciate Your Attendance and Look Forward To Reading Your Evaluation Forms! Safe Travels Home and We Will See You at Future Native Nation Events Conferences! 8