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.
KOFΠAN 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
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