§ 1-403 Financial reporting.
A. The financial statements of the Tribal Government shall be prepared in conformity with the GAAP, as applied to government units, promulgated and amended by the Governmental Accounting Standards Board of the American Institute of Certified Public Accountants.
B. The financial statements of the tribal enterprises shall be prepared in conformity with the GAAP, promulgated and amended by the American Institute of Certified Public Accountants.
C. Quarterly Reports.
1. The Chairperson and tribal enterprise board shall prepare quarterly financial reports for review by the Tribal Council. The quarterly financial report shall be provided to the Tribal Council not later than the fifteenth day of the month following the close of the previous quarter.
2. The Tribal Council shall place the quarterly financial report on its agenda for the meeting immediately following the presentation of the quarterly financial report.
3. The Chairperson, Chief Judge, tribal enterprise board president or spokesperson or designees shall attend the next meeting of the Tribal Council following delivery of the report to answer all questions concerning the quarterly financial report and provide supplemental information as necessary.
4. The Tribal Government quarterly financial report shall consist of the following financial information:
a. Quarterly governmental financial statements and schedules.
b. Quarterly and year-to-date expense report based on current budget line items.
c. Quarterly and year-to-date revenue report based on current revenue budget line items.
d. Reporting of all loan accrual and activity.
e. Reporting of all investment and banking account activity.
5. The tribal enterprise quarterly financial reports shall consist of quarterly enterprise financial statements and schedules.
D. Year-End Financial Statements.
1. Within ninety (90) days after the end of each fiscal year, the Finance Director shall submit completed governmental financial statements to the Chairperson and the independent auditor selected pursuant to Section 1-405. Such governmental financial statements shall contain all necessary notes, disclosures and schedules for publication upon certification by the independent auditor. The Chairperson shall schedule a review of the government financial statements with the Tribal Council and shall, together, present a discussion of any issues requiring the attention of the Tribal Council.
2. Within ninety (90) days after the end of each fiscal year, the tribal enterprise board president or spokesperson shall submit completed enterprise financial statements to Tribal Council. Such enterprise financial statements shall contain all necessary notes, disclosures and schedules for publication upon certification by an independent auditor. The President or Spokesperson shall schedule a review of the enterprise financial statements with the Tribal Council and shall present a discussion of any issues requiring the attention of the Tribal Council.
E. Operational Reporting. Tribal Council members may request specific operational reports, such as general ledger, accounts payable detail and aging report, credit card reports, travel expense reports, or other budget-related information as needed for budget oversight consistent with Section 1-201(H). Such reports will be produced within fifteen (15) calendar days, and provided to Tribal Council at the next scheduled Tribal Council meeting. (Res. 2019-42; Res. 2018-04; Res. 2015-10)