2. Office of the Special Trustee for American Indians
Panel Briefing Presented by
Rob Winter
Director – Trust Operations
National Intertribal Tax Alliance
September 16 & 17, 2015 – Niagara Falls, NY
11/20/2018

3. Trust Services - Mission
Responsible for all fiduciary accounting activities, reconciliation, and financial reporting related to the individual Indian, Alaska Native, and tribal trust funds under management by the Department of the Interior
11/20/2018

4. Trust Services – What We Do
Manage over $4 billion in tribal trust funds and almost $900 million in individual Indian Monies (IIM)
Manage over 400,000 tribal and individual Indian trust accounts
Process and reconcile approximately 10 million financial transactions each year with an annual flow through of almost $1.6 billion
Prepare the audited Tribal and IIM financial statements annually
11/20/2018

5. Trust Services – What We Do
Issue more than 15,000 IRS Forms 1099 (INT, MISC, DIV). Work with beneficiaries to understand tax implications
Process and close out more than 8,000 probate cases each year
Process more than 700,000 routine file maintenance (address changes, banking changes, etc.) transactions each year
11/20/2018

6. Trust Services – What We Do
Individual Indian Monies Pool Account
$ 858,000,000
17% of Total
Individual Indian Accounts
397,000
> 99% of Total
Tribal Accounts
$ 4,046,000,000
83% of Total
Tribal Accounts
3,300 (for over 250 Tribes)
< 1% of Total
11/20/2018

7. Trust Services – What We Do
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8. Trust Services – What We Do
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9. Trust Services – What We Do
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10. Trust Services – What We Do
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11. Trust Services – What We Do
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12. Trust Services – Trust Reforms
Implemented monthly financial statement reporting along with an annual independent audit
Resolved 60 audit deficiencies (7 of which were Material Weaknesses) identified by the first full audits which began in fiscal year By FY 2010 all deficiencies were resolved FY audit revealed no deficiencies.
Reconciled and balanced historical differences with Treasury (approximately $34 million)
Resolved an over $5 million imbalance between the Individual Indian Monies Pool of Financial Assets and the amounts owed to IIM beneficiaries
11/20/2018

13. Trust Services – Trust Reforms
Implemented an automated, centralized, and one-day receipting and distribution process through a commercial lockbox
Implemented electronic disbursement methods (e.g. direct deposit and debit card)
Assumed the financial distribution of probated accounts from BIA
Implemented monthly and quarterly tribal and IIM statements of performance including land and lease information
Implemented a paperless transactional tracking and control system, greatly reducing our carbon footprint
Transitioned all check, statements of performance, and oil and gas explanations of payment to Treasury, utilizing their economies of scale to improve services
11/20/2018

14. Trust Services - Priorities
Continued scrutiny of controls over financial processes and reporting
IIM Direct (electronic banking)
Implement the Daily Automated Reconciliation and Reporting Tool (DARRT)
Streamline daily and monthly interest calculations
Continue supporting the Land Buy Back Program distributions – Over $650 million distributed in less than two years
Improving efficiencies and reducing errors in line with our strategic plan
11/20/2018

15. Questions?

16. Thank you!