Koniag is pleased there will be an influx of CARES Act funds to assist our people and communities.
Koniag recently received our allocation of $6.78 million from the Department of Treasury. We want to move as efficiently as possible to distribute the funds to our Shareholders and registered Descendants impacted by the pandemic.
The Department of Treasury has strict spending requirements for CARES Act funding. The guidelines restrict Koniag from simply paying a special distribution with the funds.
In late August, the Koniag Board approved our CARES Act spending plan, which includes three parts: a $1 million donation to KANA to help cover costs associated with in-region vaccinations and COVID-19 testing; mental health support; and direct relief to individuals.
Please find frequently asked questions about the CARES Act funding below.