Utah Navajo trust fund accounting report due
Friday, February 1, 2008
Filed Under:
Trust
A federal judge held a hearing on Thursday on the Utah Navajo Trust Fund.
Congress delegated trustee duties to Utah in 1993. The state is supposed to manage 37.5 percent of oil and gas royalties for Navajos in San Juan County.
Navajo beneficiaries filed suit to ask for an accounting of at least $150 million in trust funds. They say the state has mismanaged their money.
The state has hired four full-time accountants and presented Judge Tena Campbell with a sample of its work.
A report is due June 30, when the state's role as trustee is due to expire as lawmakers consider temporary and permanent solutions to the issue. Final resolution of the state's role would require action by Congress.
Get the Story:
Suit on Navajo trust expected to drag on (The Deseret Morning News 2/1)
House bill proposes temporary management of Navajo fund
(The Deseret Morning News 2/1)
Get the Bill:
Amendments Related to Monies Derived from Navajo Nation Reservation Lands in Utah (HB 352)
Relevant Links:
Utah Navajo Trust Fund -
http://untf.utah.gov
Related Stories:
Utah House passes bill to
relinquish Navajo trust (01/24)
Utah Navajos seek extension
for state trust fund (12/04)
Editorial:
Utah should pull out of Navajo trust (11/16)
Utah seeks to pull out of Navajo trust fund
(11/14)
Navajos in Utah fight state over
trust mismanagement (3/6)
Federal judge
advances Navajo trust fund lawsuit (1/12)
Navajo trust fund case moves forward
(6/11)
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