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FM — Who We Are
Financial Management Services and Responsibilities
The Financial Management (FM) Division Chief is Robert Prael. |
The FM Staff Accountant is Katherine Martinez. |
The FM Division consists of three service branches: |
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Accounting Services (AS) - Manager, Paul Knueven |
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Financial Services (FS) - Manager, Hans Meingast |
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Reporting Services (RS) - Manager, Lorraine Corona |
Accounting Services |
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Processes all rents, royalties and bonuses paid to MRM for Federal or Indian mineral leases (currently >$11 billion per year) |
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Maintains the general ledger for MRM (assets, liabilities, revenues and expenses) |
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Manages investment portfolios in excess of $1.1 billion in value |
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Prepares, reconciles, verifies and transmits all required financial reports to Treasury and to the Department of the Interior |
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Distributes revenues in accordance with Federal law (to States, Counties, other Federal agencies, and BIA – for Indian Tribes and individual Indian allottees) |
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Provides Explanation of Payment data to all recipients |
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Prepares daily deposit reconciliations for the monies deposited with Office of the Special Trustee for American Indians |
Financial Services |
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Ensures that industry reporters follow Federal laws, regulations, and lease terms in their financial reporting to the MRM |
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Bills for late payment interest on Federal, Indian, Solid Mineral, and Geothermal leases |
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Bills for insufficient estimates on Federal, Indian, Solid Mineral, and Geothermal leases |
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Bills for over-recoupments on Indian Leases |
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Bills for rental, minimum royalty, deferred bonus, rights-of-way and other financial term exceptions |
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Pays interest for overpayments on Federal leases |
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Prepares manual bills for civil penalty, diligent exploration expense, and other miscellaneous collections/billing actions (debt collection) |
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Serves as a customer service focal point for customers to answer any financial questions (bill questions, database questions, and payment questions) |
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Provides both formal and informal training to industry |
Reporting Services |
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Establishes and maintains the reference database, including error correction |
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Provides both formal and informal training to industry reporters |
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Receives and processes production reports |
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Receives and processes royalty reports |
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Coordinates with BLM and OMM on surface management issues |
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Manages electronic reporting activities |
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