Paul Kaludjak said there is no official time limit set on the KIA to provide its financial documentation.
However, it must do so by April 1, 2004, at the absolute latest, in order to receive funding for the following fiscal year.
Kaludjak said he's hopeful the KIA will provide the financial statements by NTI's mid-January meeting in the South Baffin.
"Our auditors had a problem with some of the expenses put forward by the KIA, specifically, more than $40,000 in claimed expenses that they didn't have any backup for," said Kaludjak.
Getting to the bottom
"I understand the KIA's staff members are in overdrive trying to get to the bottom of that figure and locate documentation for the expenses.
"They (KIA) have indicated to me that they expect to have this cleared up a couple of weeks or so after their presidential election next month."
Kaludjak said the unaccounted for expenses create a serious situation.
He said it's an issue of accountability and, until the auditors are satisfied the expense claims are legitimate, NTI will not release any further money to the KIA.
"The major problem presented to me in this situation stems from use of the corporate credit card by KIA's executive and senior staff.
"This includes the KIA's former executive director (Johnny Kusugak) and its former president (Tongola Sandy)."
Kaludjak makes a point of stating emphatically that NTI's contention that it will withhold the KIA's funding if the expenses cannot be clarified is a serious one.
"This boils down to a very simple situation, as far as the releasing of any further finances to the KIA.
"If there's no financial statements, there's no money to be released. End of story!"