Interior creates Trust Funds Administration
WASHINGTON – On Sept. 1, U.S. Secretary of the Interior David L. Bernhardt signed an order creating the Bureau of Trust Funds Administration, which will report to Bureau of Indian Affairs Assistant Secretary Tara Katuk Sweeney and on Oct. 1 assume responsibility for financial operations functions performed by the Office of the Special Trustee for American Indians.
The OST receipts account for the disbursement of more than $1 billion annually of trust monies and have more than $5 billion under active day-to-day management and investment on behalf of tribes and individuals.
The order is consistent with the Interior’s fiscal year 2021 budget to ensure a smooth transition of important trust financial operations and other functions which have accrued to OST over time, along with related functions performed by the Land Buy-Back Program for Tribal Nations and the Office of Historical Trust Accounting, to the BTFA. No additional changes are proposed, and no employee relocations or loss in positions would occur with this realignment.
The BTFA’s mission is to manage the financial assets of trust beneficiaries. This effort is integrally related to Interior’s goal of meeting its responsibilities to American Indians. The BTFA carries out its mission in pursuit of the following vision—We Excel, Native America Prospers.