Currently NIGA has $1.4 million in cash on hand to cover ‘essential’ and limited contractor costs through the first 3-4 months of 2021. Absent a loan/grant or another major source of revenue collection, NIGA will be implementing budget cuts to ensure operations well into 2021. The Membership Director has already started the 2021 Tribal Membership drive and has collected $305,000 in revenue as of today. We anticipate collecting another $1.1 million in membership dues. With NIGA’s current “cash on hand” ($1.4 million) there is just enough operating cash to cover ‘essential’ and limited contractor costs through April 2021. NIGA’s “essential” costs are: • Salaries ($120,000/mo) • Health Care ($17,000/mo) • Mortgage and equipment rental (copiers/printers/etc..) ($22,000/mo) • Dental and Life Insurance ($2,000/mo) • Facility Maintenance & DC Property Tax ($25,000/mo) “contractor” costs that NIGA is maintaining for now: • Contractor Costs (NIGA Law-Lobbyists-Media-Admin: $88,000/mo) The Deputy Director and Office Manager have already implemented cuts to non-essential costs and discontinued professional and administrative memberships back in June 2020. The Executive Director and Deputy Executive Director along with our Accounting Department are working on detailed plans to curtail spending for the first quarter of FY 2021 in order to ensure that we can meet our basic ‘essential’ and ‘contractor’ costs for as long as possible into 2021. We are negotiating now with our Property Manager, Lincoln Property, to severely reduce and/or cancel their 2021 building contract. NIGA needs to consider reducing our monthly Lawyer Lobbyists costs as well. Fiscal Year 2021 And NIGA’s Tradeshow: Developing Options and Opportunities The single biggest financial hurdle facing NIGA will be the lack of expected 2021 tradeshow revenue. While our financial forecasting for 2021 does not include Tradeshow revenue, NIGA continues to develop several alternatives with Clarion, our tradeshow partner, for 2021. These include:
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