Historical Accounting Plan for Individual Indian Money Accounts

摘要

The U.S. Department of the Interior (Interior) is presenting a Plan to conduct a historical accounting for about 260,000 Individual Indian Money (IIM) accounts as directed by the United States District Court for the District of Columbia (Court). The work described in this Plan is expected to take five years to complete and is preliminarily estimated to cost approximately $335 million. The successful implementation of this Plan is dependent upon sufficient appropriations. Interior intends to conduct the historical accounting by a combination of: (1) transaction-by-transaction reconciliation methods (all transactions in certain account types), (2) reconciling all transactions over a certain dollar threshold, and (3) reconciling a statistical sample of lower dollar-value transactions. By using these different methods, Interior believes the IIM account holders will receive their Historical Statements of Account much sooner than if a transaction-by-transaction method for all IIM accounts was used. Further, the IIM account holders should also be able to place a high degree of confidence in the accuracy of those Statements.