The McCabe CPA & Consulting Group, LLC, is a 100% Navajo-owned CPA firm that has served Indian Country for the last 15 years. This year, we have focused on CARES Act funding and COVID-19 response. We are working to stay abreast of the issues so we can provide the best in consulting to Tribes across the country.
Over the past few months, we have pivoted with every new piece of information to provide the most-needed services related to the pandemic and economic recovery. It is our purpose to serve Tribes in economic development, public policy, health care and more.
We are proud to be adding Native American professionals to our team who increase our capacity to serve Tribal communities. Today, we are able to provide a wide range of services concerning the pandemic, and we have listed them here for your consideration.
First and foremost, it is paramount in these unprecedented times that Tribal Governments and their related Enterprises track costs and expenses related to COVID-19. The McCabe CPA Group’s Native American professionals can assist in navigating the complexities of CARES Act funding and compliance as you respond to the COVID-19 pandemic.
Accounting & Compliance:
- Ensure Tribal Government COVID-19-related costs expenses are properly captured and allowable
- Assist in PPP compliance and allowable expense tracking for Tribal Enterprises with lender
- COVID-19 budget preparation for CARES Act funding
- Accounting policy review and update
- Procurement policy review and update
- Preparing for single audit of federal funds specific to COVID-19 funding
When it comes to health, Tribal Communities have been especially vulnerable to the COVID-19 pandemic. Some Tribal Nations have been hardest hit because of continuing health disparities and a lack of health care funding that has affected Native American Tribal Nations.
Furthermore, because of the lack of tax structures to fund Tribal Programs, infrastructure, and health care needs, Indian Gaming has been unable to sustain their local Tribal Communities’ operating budgets.
The McCabe CPA Group’s new series of consulting addresses the need of “The New Emerging Paradigm of Public Health and Indian Gaming” with industry subject-matter experts. Here is an overview of our expanded offerings, including public health mitigation strategies for Tribal Clients in government, health care and gaming sectors.
Health Care & Public Health Policy:
- COVID-19 Prevention Planning
- Health and Safety Procedures
- Social Distancing Guideline Development
- Cleaning and Sanitation Policy Development
- Contact Tracing
- Employee Public Health Mitigation Policy Development
- Customer Hotel and Gaming Floor Public Health Mitigation Policy Development
- Employee Benefit Review and Value-Added Purchasing Strategy Development
- Employee Health Insurance Third Party Administrator
- Telehealth and Telemedicine Services
- Personal Protective Equipment (PPE) Sourcing
- Public Health Media Campaigns and Learning/Educational Resource Development
- Public Health Cultural Sensitivity and Competency Training
- Health Care-Related Real Estate Development for Local Tribal Member Employee Services
- Health Care Feasibility Studies
Finally, as Tribal Gaming and Tribal Enterprises continue to stay shuttered, eliminating important revenue and tax base earnings to respond effectively to COVID-19, Tribal Governments should look to implement streamlined financial policies, financial procurement and, most importantly, work with its governing body, the Tribal Councils, to pass Tribal resolutions or legislation to partner with Tribal programs/departments/divisions to receive funds for project implementation.
Externally, federal grants are increasing with funds or extending due dates for applications, therefore more funds are now available from U.S. Commerce, U.S. Environmental Protection Agency, the Economic Development Administration, the Department of Housing and Urban Development, the Department of Indian Energy and FEMA. Here are the services the McCabe CPA Group provides to support Tribal economic development initiatives.
Economic Recovery & Development:
- Grant application assistance
- Grant management and technical assistance
- Strategic planning for keeping CARES Act dollars circulating in Tribal Economies
- Grow the economy through expanding employment and labor force
- Increase economic opportunities for Tribal residents
- Assist in the development of sustainable communities by demonstrating improvement for communities and nation as a whole
- Assist in the startup or expansion of businesses, physical or commercial activities
- Business recruitment, retention and expansion
- Capital expenditures such as purchases, construction andequipment, etc.
- Allowable operating expenses
- Federal funds, loan programs and other equity investments
Reach out to us if you’d like further consultation or support. Thank you for all that you do to keep Tribal Communities safe and optimistic during these unprecedented times.
Sean McCabe, CPA | Juan Massey, Principal | J.Garret Renville, Principal |Travis Renville, MBA |
Melvina McCabe, MD | Joelynn Ashley, MPA, MA
New Paycheck Protection Program Flexibility Act (PPPFA)
President Trump signed this act into law to provide relief regarding PPP loans. This is especially important for Tribal casinos. Highlights include:
- Extend the “covered period” under which small businesses can spend the loan proceeds from eight weeks to 24 weeks, or until Dec. 31.
- Remove the limits on loan forgiveness for small businesses that were unable to rehire employees, hire new employees or return to the same level of business activity as before the virus.
- Expand the 25% cap to use PPP funds on nonpayroll expenses such as rent, mortgage interest and utilities, to 40% of the total loan. That lowers the 75% requirement for payroll expenses to 60% to get maximum forgiveness.
- Allow small businesses to take a PPP loan and qualify for a separate, recently enacted tax credit to defer payroll taxes, currently prohibited to prevent “double dipping.”
- Extend the loan terms for any unforgiven portions that need to be repaid from two years to five years, at 1% interest.
- Ease rehire requirements and give small businesses until Dec. 31 to rehire employees or to obtain forgiveness for the loan if social distancing guidelines and health-related actions from the Centers for Disease Control and Prevention or other agencies prevented the business from operating at the same capacity as it had before March 1.
- Extend the period for when a business can apply for loan forgiveness, from within six months to within 10 months of the last day of the covered period, before it must start making interest and principal payments. Under the new bill, PPP loan interest and payment of principal and fees will be deferred until the lender forgives the loan.