51-10-204. Trust administrator duties.
(1) Under the direction of the board, the trust administrator shall: review the documents and decisions highlighting the history of the fund, including: the Nelson report, prepared as part of the Bigman v. Utah Navajo Development Council, Inc. C77-0031; the November 1991 performance audit of the fund by the legislative auditor general; Sakezzie v. Utah Indian Affairs Commission, 198 F. Supp. 218 (1961); Sakezzie v. Utah Indian Affairs Commission, 215 F. Supp. 12 (1963); the September 8, 1977, consent decree, the stipulation dated November 29, 1984, modifying the consent decree, and the court's memorandum opinion dated September 25, 1978, in Bigman v. Utah Navajo Development Council, Inc. C77-0031; and rulings related to Pelt v. Utah; review the potential sources of fund revenues; prepare an annual projection of money that will be available for a Navajo program; identify the property owned by the fund; establish and maintain a record system and retention schedule to retain a record relating to the fund's property and operations, including: a record related to the ethics and conflict policy developed under Subsection; (2)(c) a request for proposal and a proposal received; a contract awarded; project progress and a completion report; an invoice; and a purchasing record; review an existing and proposed program financed by the fund; evaluate whether a program described in Subsectionis the most practical and cost-efficient means to provide the desired benefit to Navajos; (1)(f) consult regularly with the administrator of a program financed by the fund to obtain a progress report on the program; attend the meetings of: the DinAdvisory Committee; and the board; certify that an expenditure of the fund: complies with the state's fiduciary responsibilities as trustee of the fund; and is consistent with this section; make an annual report: to the: board; governor; and Native American Legislative Liaison Committee, created in Section; and 36-22-1 that: identifies the source and amount of the revenue received by the fund; identifies the recipient, purpose, and amount of the expenditures from the fund; identifies investment categories and the rate of return of each category of investment; and recommends any necessary statutory changes to improve administration of the fund or to protect the state from liability as trustee; submit a written annual report to the: Division of Indian Affairs; Navajo Nation; United States Bureau of Indian Affairs; and United States Secretary of the Interior; establish, in conjunction with the state treasurer and the Division of Finance, appropriate accounting practices for the fund receipts, expenditures, and investments according to generally accepted accounting principles; provide a summary record of fund receipts, expenditures, and investments to the board and to the DinAdvisory Committee at each meeting of the board or DinAdvisory Committee; pay an administrative expense from the fund; report quarterly to the board about: the trust administrator's activities; and the status of the fund; and call an additional meeting of the DinAdvisory Committee when necessary.
(2) In conjunction with the DinAdvisory Committee and under the direction of the board, the trust administrator shall: before the beginning of each fiscal year, establish a list of the needs of Navajos for that year to be used for the annual budget; before the beginning of each fiscal year, develop and approve an annual budget for the fund; develop an ethics and conflict of interest policy that emphasizes the need to avoid even the appearance of conflict of interest or impropriety that is to apply to: the trust administrator; the trust administrator's staff; and the DinAdvisory Committee; require the trust administrator, each of the trust administrator's staff, and each member of the DinAdvisory Committee to sign and keep on file written documentation that acknowledges: receipt of the ethics and conflict of interest policy described in Subsection; and (2)(c) willingness to abide by the ethics and conflict of interest policy described in Subsection; and (2)(c) make expenditures from the fund: "for the health, education, and general welfare of the Navajo Indians residing in San Juan County" as required by: Pub. L. No. 72-403, 47 Stat. 1418 (1933); Pub. L. No. 90-306, 82 Stat. 121 (1968); and this chapter; and including expenditure for roads and utilities.
(3) The trust administrator, under direction of the board, may: contract with a public or private entity; and unless prohibited by law or this chapter, acquire and hold money and other property received in the administration of the fund.