The Great Plains Tribal Leaders Health Board (GPTLHB) recently achieved a significant milestone: five years of clean financial audits. This shows that the Health Board has managed its money well, an essential factor in building trust with the public. GPTLHB supports Native American communities in South Dakota, North Dakota, Nebraska, and Iowa with health services, and keeping finances in order helps it do this vital work.
What Is a Clean Financial Audit?
A clean, or “unqualified,” audit means that GPTLHB’s financial records are correct and complete, with no big mistakes. This type of audit is done by outside financial experts who carefully review the records to ensure everything follows general accounting rules.
A clean audit tells the public and the government that the Health Board is managing its money well. This helps GPTLHB continue getting funding to support healthcare programs and services.
Highlights from the 2023 Audit
The 2023 audit summarizes GPTLHB’s finances as of September 30, 2023. For the fifth year in a row, the audit found no issues.
Here are some key points from the report:
- Total Assets: The Health Board has assets (things it owns or money owed to it) worth over $127 million, including $107 million in cash and other funds.
- Total Liabilities: GPTLHB’s total debt (what it owes) is around $70 million, including bills, expenses, and loans. GPTLHB has managed this debt responsibly, with no missed payments.
- Net Position: GPTLHB’s total worth is $57.5 million after adding all assets and subtracting debts. This amount is up from $24.8 million last year, showing strong financial health.
Revenue and Spending
In 2023, GPTLHB’s revenue (income) was $126.9 million. This money allows GPTLHB to run health centers, including the Oyate Health Center, and offer other health services.
Most of the money — about $98.4 million — was spent on programs like health centers, community health, and mental health services. The Oyate Health Center alone used $67 million, showing how vital these services are for Native American communities.
Following Federal Rules
Since a large part of GPTLHB’s funds come from federal resources, it must follow specific spending rules. The 2023 audit showed that GPTLHB followed all these rules and handled federal funds correctly.
The audit also looked at how GPTLHB manages its money and found no issues with the Health Board’s financial controls (the steps to ensure money is spent responsibly). This is a good sign of strong financial management.
Transparency and Building Trust
Transparency, or being open about finances, is vital for a nonprofit organization. GPTLHB has proven it is responsible by receiving clean audits for five years. This builds trust with the community, funders, and the board of directors, ensuring continued funding for GPTLHB.
All audit reports, including the 2023 report, are posted on the Health Board’s website at greatplainstribalhealth.org. By sharing this information, GPTLHB shows it is committed to being open and accountable.
Moving Forward
As GPTLHB grows, keeping finances strong and healthy is essential. Clean audits help show the Health Board is ready for growth and success. This foundation will help GPTLHB keep providing quality health care to tribal communities across the Great Plains.
