With new variants of COVID-19 increasing illness across Alaska and the country, Koniag is pleased there will be an influx of CARES Act funds to assist our people and communities. These benefits will help us keep our people safe and help our region to begin to recover from the pandemic.
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 impacted by the pandemic.
We are currently building an application process and working with the Department of the Treasury to determine how we can spend the funds in accordance with federal guidelines. Our goal is to allocate the funds where our Koniag family can use it the most.
Our distribution plan will be based on Shareholder feedback from a COVID-19 impact survey conducted last fall and input from in-region non-profits that serve our Shareholders and Descendants.
The federal government has strict guidelines regarding the use of this funding, including restricting Koniag from simply paying a special distribution to Shareholders. However, you can be assured that 100% of the funds will be utilized to assist those who have been impacted by the pandemic. Koniag will also absorb any administrative costs associated with the funds.
We will move as efficiently and effectively as we can, but we ask for your patience as we manage this complex process. We anticipate that it will be several weeks before the online application and paper forms will be available. You can expect updates and information about the process on our website, through our social media channels and via email. We have also added a Frequently Asked Questions section to our website at www.koniag.com/caresact which we will update regularly. In the meantime, you can help by logging into the Shareholder Portal and ensuring your contact information is current.
If you would like to see the full guidance from the Department of the Treasury about how the funds may be used, please click here.
If you have any questions, please call us toll free at (800) 658-3818 or by email to email@example.com.