SAINT MICHAELS, Ariz. — Navajo Agricultural Products Industry presented a $1 million dividend check to the 25th Navajo Nation Council’s Resources and Development Committee for the Navajo Nation, on behalf of NAPI and Navajo Pride, LLC., Oct. 25.
Before the check presentation, NAPI delivered their Fiscal Year 2023 Audit Report in executive session during a regular meeting of the RDC. The presenters were David F. Zeller; Chief Executive Officer, Brandy Horner, CMA, CFE, Delegate CFO/Controller Navajo Agricultural Products Industry; Wesley Ryan Benally, CPA, Principal, Audit & Assurance and National Tribal Practice Leader; and Albert Cheung, CPA, Audit Senior Manager, REDW Advisors & CPA’s.
“On behalf of the Resources and Development Committee, I would like to congratulate Navajo Agricultural Products Industry for their financial performance this past year. I hope your financial success continues to thrive in the future to continue to bring much needed dividends back to the Nation,” RDC Chair Brenda Jesus (Oak Springs, St. Michaels) said.
She was joined by RDC Vice-Chair Casey Allen Johnson Cameron, (Coalmine Canyon, Birdsprings, Leupp, Tolani Lake) and RDC members Otto Tso (Tó Nanees Dizi), Rickie Nez (T’iistoh Sikaad, Nenahnezad, Upper Fruitland, Tse’ Daa’ Kaan, Newcomb, San Juan), and Danny Simpson (Crownpoint, Becenti, Huerfano, Lake Valley, Nageezi, Nahodishgish, Tse’ii’ahi, Whiterock) for the check presentation.
Enterprises on the Navajo Nation were established to generate revenue and to grow and flourish. At their discretion, the enterprises can issue dividend payments periodically to the Navajo Nation’s general fund. Currently, there is no law in place that requires enterprises to remit an annual dividend payment. The law does allow the boards to remit dividend payments at their own will.
“The dividends shared by NAPI with the Navajo Nation will go into the General Fund to support the many services that the Nation provides to communities,” Johnson said. “It’s encouraging to know that enterprises like NAPI are giving back to the Nation although they aren’t required to. Ahé’héé.”
The funds received will be delivered to the Office of the Controller to contribute to next year’s comprehensive budget, which funds direct services and other resources that benefit the Navajo people and communities.
