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About Spilyay tymoo. (Warm Springs, Or.) 1976-current | View Entire Issue (March 13, 2008)
Page 11 March 13, 2 0 0 8 Spilygy Tyrnoo, Wgrm Springs, Oregon Proposed tribal supplemental budget for calendar year 2008 O n February 19, 2008 the Twenty-Fourth Tribal Coun cil, acting as the Board of Di rectors for W arm Springs Forest Products Industries, acknowledged the dire finan cial situation o f the E nter prise due to the collapse of the lumber and log markets. Upon approval of resolution WSFPI 08-01, Council au thorized the WSFPI General Manager to affect a “condi tional shutdown” of the mill operations. It was discussed and gen erally recognized that there may be numerous costs, both foreseen and unforeseen, much possibly in excess of available WSFPI liquid assets, involved in carrying out the conditional shutdown. These costs range from compensa tion to the employees, to lost stumpage revenue to contrac tual obligations and bank agreements. It is undetermined at this juncture what the exact amount needed will be. Council and staff have recognized the critical need to have funds avail able to deal with these costs on a timely basis. I t was determ ined th a t a supplemental budget should be proposed to make available funds to cover these needs. A motion was made and approved by the Council to post a supple mental budget in accordance with the Constitution and Warm Springs Budget Ordinance 67, as amended. This will allow for public comment prior to Coun cil considering approval via re quired resolution. Notice will be posted at the Administration Building, the IHS Building, W arm Springs P o st O ffice, Warm Springs M arket, b o th longhouses and Three Warriors Market. The total under consideration MADRAS 5 Paint & Glass to appropriate $2,750,000. This money would not come from the Revenue Reserve Fund, but is earnings from tribal investments that have not been pledged, budgeted or allocated. It has been pro posed to use the funds for sawmill closure expenses, di rect or indirect (such as im pacts to stumpage income or Biom ass P roject). I f any funds are n o t used, they could be reallocated by Coun cil to use for Phase II litiga tion expenses or returned to the working capital accounts o f the general fund. We look forward to re ceiving input from the mem bership regarding this pro posal. “Your Local Paint & Glass Experts" - _ Benjamin A » L PUNTS I Ì P G ALLERY' Madras Paint & Glass 1076 SW Hwy 97 in Madras, ph. 475-2166 OPEN 8-5:30 M-F; 9-4 S at Charles R. “Jody” Calica, secretary-treasurer/ CEO. Ronald Suppah, Tribal Council Chairman. Clothing-Crafts-Gifts Sources: F rom W arm Springs Power Enterprises (1) : $250,000. F rom BIA Loan Repaym ent A ccount (2) : $2,500,000. Total: $2,750,000. Possible uses: Note: funds will only be used if absolutely necessary, contingent. It is very unlikely cash follow of WSFPI will pay all of the bills. The boil ers deal still owes $4.1 mil lion. The pension amounts due are in the $350,000 range, 60 days pay is $1.2 million. Lost stumpage rev enue could be $1.8 million and logger holdbacks total another $200,000. Legal and consulting fees will likely be in the hundreds o f thousands of dollars. Composite Products will need to purchase another steam generation m ethod for up to $400,000 additional. Obligations incurred for Biomass LLC are undetermined at this time. In addition, it is highly likely that more funds will be needed to completely fund the Phase II liti gation against the BIA. All amounts not spent will be put into the CTWS working capital. M axim um allocation: $2,750,000. m ent projects in 2006 by WSP@W Board. It has been used for Biomass and to fund the December 2006 supple mental budget. This is the amount that remains avail able by unspent. (2) $4,500,000 is owed to the BIA for funds origi nally borrowed in conjunc tion with the purchase of the hydroelectric dams. The in vestment account has grown to $7,000,000, w hich is $2,500,000 more than what is needed to pay off the loan. The loan does not have to pay interest. Open Monday-Sat 9 :0 0 -6 :0 0 All N e w All T h e T im e! 717 S.W. 5 th St. M a d ra s Or. KOFŒ AN PLUSH BLANKETS (1) I $ 2 ,0 0 0 ,0 0 0 w as a llo cated for economic develop Queen Dinner, auction to benefit historical society The Jefferson County His- 5 torical Society will host its An- » nual Dinner and Fund-raiser on • the evening of Friday, April 4, | in Culver. I T he evening will include | Western-style dinner; silent auc- I tion of offering unique guided | excursions to historic places in ! the county; presentation on de- 1 signing the C entral O regon ; Heritage Center by KMD Ar- | chitectural Associates of Port- | land; keynote talk by Forrest I Rodgers, form er president o f • the High Desert Museum and I now director of OSU/Cascades I Foundation; and music by the I U nited M ethodist Bluegrass Band. Tickets are $40 per guest. Send requests for tickets to 2008 JCHS Dinner, Jefferson County Historical Society, 34 SE D St.) Madras, OR 97741. For information call Jarold Ram sey at 475-5390; em ail jwrl 937@madras.net. Silent auction begins at 5:30 p.m. and dinner at 6:30, in the Fellowship Hall o f the Culver C h ristian C hurch, 501 W. Fourth, Culver. Going out of business sale JJ’s Audio Source in Redmond is going out of business, and has a large quantity of car stereo and other accessories on sale through March 24, the last day of business. JJ’s is going out of business due to recent road construction in Redmond. The store is located at 511 SW Canal Blvd., Redmond. The phone number is 548-1951. Many of the items are at or below cost. h t t p : //w w w .t h e o u t p o s t s t o r e .c o m / Cars 8 Trucks 4 U k/arnt Spring# rt#id¿nte. Wally 6ray, owner wallygl 01 @yahoo.com h __ I_________ I __ o_J 1765 S. Hwy 97 in South Madras ph: 419-8088 T o y s - T o o ls - H o u s e w a r e s - C lo t h Supplem ental budget details fax: 475-7348 ? - < . • .............. _____ 4 H I
