May 17, 2021 To:
Joseph Eve, WIPFLI Khoon Eng, WIPFLI Andy Ebona, Treasurer
From: Executive Director Re:
Management Plan: NIGA’s 2021 Operating Budget
Dear Mr. Eve and Khoon Eng: This memorandum addresses the financial concerns brought forth by the completion of the FY 2020 Audit. Since the start of the pandemic, the challenges to NIGA’s operating budget are well known due to the cancellation of the 2020 and 2021 Tradeshows. In response to the loss of over $9 million in gross Tradeshow revenues, NIGA undertook aggressive cost-cutting measures throughout FY2020 and these continue into FY2021: • In May 2020, the NIGA Finance Committee made across the board 10% operational cuts to the 2020 Budget to conserve NIGA’s Operational Cash Flow to the end of the year. These cuts are reflected in the 2020 audit under the G&A line item and Member Services. • NIGA Staff reduced operational expenditures by cutting all travel, admin supplies/subscriptions, 401k profit sharing, and reducing fixed overhead costs. • NIGA also had two employees leave for new jobs, their positions remain unfulfilled, further reducing employee costs. • NIGA collected $1.4 million in Tribal Memberships despite the pandemic and all of our revenue generating events being cancelled. Overall for 2020, these savings and cuts helped NIGA preserve its operating capital and continue its critical mission of protecting Tribal Sovereignty and economic development.
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