From Deseret News archives:
Ute leader 'in dark' on finances
Revenue, expenditures not shared at meetings
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Legislation is required to remove the tribe's money from the government accounts, which are specifically earmarked for agriculture, fisheries and recreation enhancement on the reservation.
Jurrius has been critical of keeping the money in the government-managed accounts, which he maintains have lost money for the tribe and are not aggressive in their investment strategies.
Cuch invited Richard Zakrzewski, the OST investment officer who is charged with overseeing the tribe's settlement funds, to tell tribal members what the federal government is doing with their money. Zakrzewski in April gave tribal members financial statements on how the settlement funds are invested.
The tribe has 24 government accounts, with $85 million invested in government bonds and $22 million invested in treasury overnighters, Zakrzewski said. They earn just over $4.5 million annually in interest.
Zakrzewski said he had been to Fort Duchesne to meet with the Business Committee every other year since 1994 through 2000 to review their investment objectives, cash-flow needs and develop a portfolio. Those invitations ceased when Jurrius was hired, until this year.
E-mail: ubsnews@ubtanet.com
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