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Osage LLC undergoing third audit as operations begin to stabilize

TULSA, Okla. — Another day, another audit for Osage LLC.

At the July 17 meeting of Osage LLC’s board of directors, board treasurer Frank Freeman confirmed that Moss Adams is scheduled to start auditing the company’s finances on July 29.

“Our financial statements are accurate, so this should go pretty quickly,” he said.

Moss Adams is one of three firms that have previously audited the company’s finances since 2017 as part of a rebuilding effort after questionable recordkeeping practices and chronic underbidding on projects by previous leadership led to the company almost being dissolved by the Osage Nation Congress.

“Once we get through the audit, we’ll have a better idea of where we stand cash-wise,” Freeman said.

Once the audit is completed, the board of directors will expedite efforts to look for a chief operating officer and start taking steps to transition from being a management board to a more hands-off enterprise board.

“We need to position ourselves as enterprise board and get a CEO,” Chairwoman Kay Bills said. “The way our articles of incorporation are written … we just need to.”

“When we make that transition, we want to make sure the budgets are complete so we can turn over clean financials to the new CEO and make it clear what they have coming to them,” board member Rick Perrier added.

Meanwhile, slow progress continues on the two rural broadband programs under Osage LLC’s umbrella.

As part of the federal grant financing the projects, detailed updated budgets are being created for both Bowring and Grayhorse and will be submitted to the U.S. Department of Agriculture by July 31.

The project is funded through a $3 million Community Connect grant through the USDA and a $450,000 matching money appropriation from the Osage Nation Congress.


By

Lenzy Krehbiel-Burton


Original Publish Date: 2019-08-05 00:00:00

Author

  • Osage News Staff

    Stories that are not primarily written by an Osage News staff member will have a “Osage News” byline. These stories include press releases and other community content that was drafted by someone externally but reviewed and approved for publication by Osage News. As an independent news organization, we strive to report news and information with fairness and balance. While being the official news organization of the Osage Nation, we base our news judgements on our loyalties to our readers and Osage citizens, and we are not directly beholden to the Executive, Legislative, or Judicial branches of the Osage Nation.

Osage News Staff
Osage News Staffhttps://osagenews.org
Stories that are not primarily written by an Osage News staff member will have a “Osage News” byline. These stories include press releases and other community content that was drafted by someone externally but reviewed and approved for publication by Osage News. As an independent news organization, we strive to report news and information with fairness and balance. While being the official news organization of the Osage Nation, we base our news judgements on our loyalties to our readers and Osage citizens, and we are not directly beholden to the Executive, Legislative, or Judicial branches of the Osage Nation.
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