§ 29.505 What are the financial management systems that a Tribe carrying out a compact and funding agreement must develop, implement, and maintain to ensure the proper expenditure and accounting of Federal funds?
§ 29.506 What standards apply to a Tribe’s financial management systems when carrying out a compact and funding agreement?
§ 29.507 What minimum requirements must a Tribe’s financial management system include to meet the standards set forth in § 29.506?
§ 29.508 What procurement standards apply to contracts carried out using funds included in a funding agreement?
§ 29.509 What property management systems and standards must a Tribe maintain?

Terms Used In CFR > Title 49 > Subtitle A > Part 29 > Subpart F > Standards for Tribal Management Systems

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
  • Personal property: All property that is not real property.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Statute: A law passed by a legislature.