From Deseret News archives:

Ute leader 'in dark' on finances

Revenue, expenditures not shared at meetings

Published: Thursday, July 6, 2006 12:30 a.m. MDT
 |  E-MAIL | PRINT | FONT + - 
FORT DUCHESNE, Uintah County — While the Ute Indian Tribe is enjoying enormous revenues generated through its oil and gas leases, tribe members say they have difficulty getting complete information on their financial holdings.

A Ute tribal leader, Irene Cuch, says she would like to see at least some of the non-proprietary numbers printed on paper and given to tribe members.

Representatives from Bear Stearns and Dolan McEniry Capital Management — the two firms responsible for investing some of the tribe's wealth — spoke recently to tribal members at a quarterly meeting. The only numbers they shared, though, were displayed on an overhead projector, said Cuch.

"They talked about our income and what they are doing, but nothing was provided on the expenditures," said Cuch, who has served multiple terms on the tribe's six-member governing Business Committee. "How much are we spending? How much are the investors making off the income they are providing on our behalf? It makes me wonder how much are we paying off before we get the balance."

Story continues below
Cuch said the investors appear to continue a trend that keeps some tribal members in the dark about income from oil and gas revenue. Also in question is how much of the tribe's money goes directly to the tribe's financial adviser, John Jurrius, and his Jurrius Ogle Group, an array of businesses on the reservation that he started. Jurrius is not a member of any American Indian tribe.

In addition to the oil and gas revenues, the tribe has millions from a 1994 settlement with the federal government over water rights. Congress awarded the Ute Tribe $240 million to settle the tribe's claims of broken promises to build water-storage facilities on their land, and for some of their water, which was diverted to the Wasatch Front as part of the Central Utah Project.

The money was appropriated gradually by Congress, starting in 1995, and was fully funded in 2000. The tribe ended up with about $270 million because of penalties and interest.

The bulk of the money was restricted to funding economic-development projects for the tribe and was held in federal accounts. But Jurrius withdrew $170 million in 2003, and that money is now managed by the private firms.

Cuch said she has discovered that money never went through the tribe's treasury department. According to the Ute Constitution and by-laws, the treasury department must note all money that goes through the tribe.

Comments

You can be the first to comment on this story.

previousnext

Latest comments

True. It's not terribly funny and if it has any effect on society, it won't...

Letters: Christian founders

What else would you expect to find in a book called "The Founders on Religion"?

5A: Davis runs over Hunter

Ok not to be rude here, but check the stats, Hinds isnt first in yards and...

t-hinds = best player in utah

Anonymous: Was that English? I though conservatives believed if you are in...

Attack meant to kill apostle

Wow! Glad the Lord kept you safe. Separate comment: That was a horrible...

5A: Bingham rolls to title game

I have never been to a Utah high school game before as I am not from the...

Sponsor for gay-rights bills found

It would behoove the above commenters to recall that religion, including our...

Vandals take advantage of young Utes

Only 8000 attendance? BYU had 16,000+ tonight. What is wrong with Ute fans?...

ian you are the 3A MVP If you win next week so just do it that would be nice....

Advertisements
Advertisement