Finding Text
A tribe, tribal organization, or consortia receiving advance payments under the ISDEAA or the Tribally Controlled Schools Act may invest advance payments (some recipients refer to these advanced payments as “deferred revenue”), before such funds are expended for the purposes of the grant, contract, or funding agreement, so long as such funds are (1) invested only in obligations of the United States or in obligations or securities that are guaranteed or insured by the United States, or mutual (or other) funds registered with the Securities and Exchange Commission (SEC) and which only invest in obligations of the United States or Securities that are guaranteed or insured by the United States or (2) deposited only in accounts that are insured by an agency or instrumentality of the United States. According to the Indian Child Protection and Family Violence Protection Act (25 USC 3201 etc. Sec.), the School must conduct a character investigation of each individual who is employed or is being considered for employment in a position that involves regular contact with, or control over Indian children. The investigation should be reinvestigated every five years. The Act further states that the Schools may employ individuals in those positions only if the individuals meet standards of character, no less stringent thatn those prescribed under subpart B – Minimum Standards of Character and Suitability for Employment (25 CFR part 63).