BANK OR BANKS AS MANAGER MAY CHOOSE, WITH THE
APPROVAL OF TRIBE, WITH THE SOLE SIGNATORIES TO BE MANAGER OR MANAGER'S DULY
AUTHORIZED REPRESENTATIVES DESIGNATED FOR THOSE PURPOSES.
MANAGER IS HEREBY
AUTHORIZED TO MAKE ALL SUCH DISBURSEMENTS AND EXPENDITURES AS ARE NECESSARY FROM
SAID ACCOUNT IN ORDER TO FUND ALL GAMING OPERATIONS AND OTHER EXPENSES RELATED
TO THE GAMING FACILITY, INCLUDING, BUT NOT LIMITED TO, OPERATING EXPENSES AND
NON-GAMING OPERATING EXPENSES; AND THE DISBURSEMENT OF NET REVENUES AND NON
GAMING NET REVENUES DUE TRIBE AND MANAGER.
ALL SUCH EXPENDITURES AND
DISBURSEMENTS SHALL BE CLEARLY REPRESENTED WITHIN AND ON THE REGULAR MONTHLY
FINANCIAL STATEMENT OR REPORT PROVIDED BY MANAGER TO TRIBE AS MORE SPECIFICALLY
SET FORTH HEREIN BELOW.
ARTICLE IV
ACCOUNTING AND FINANCIAL REPORTING
4.1
ACCOUNTING.
MANAGER SHALL PROVIDE FOR THE ESTABLISHMENT AND
MAINTENANCE OF SATISFACTORY ACCOUNTING SYSTEMS AND PROCEDURES THAT SHALL, AT A
MINIMUM: (A) INCLUDE AN ADEQUATE SYSTEM OF INTERNAL ACCOUNTING CONTROLS; (B)
PERMIT THE PREPARATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH GENERALLY
ACCEPTED ACCOUNTING PRINCIPLES; (C) BE SUSCEPTIBLE TO AUDIT; (D) ALLOW THE CLASS
II GAMING OPERATION, THE TRIBE, AND THE COMMISSION TO CALCULATE THE ANNUAL FEE
UNDER THE ACT; (E) PERMIT THE CALCULATION AND PAYMENT OF THE MANAGER'S FEE; AND
(F) PROVIDE FOR THE ALLOCATION OF OPERATING EXPENSES OR OVERHEAD EXPENSES AMONG
THE TRIBE, THE TRIBAL GAMING
21
ENTERPRISE, THE MANAGER, AND ANY OTHER USER OF SHARED FACILITIES AND SERVICES.
ANY SUCH ALLOCATION SHALL BE REASONABLE, AND SHALL BE ACCEPTABLE TO BOTH TRIBE
AND MANAGER.
4.2
FINANCIAL RECORDS AND STATEMENTS.
MANAGER SHALL MAINTAIN FULL AND
ACCURATE BOOKS OF ACCOUNT UPON THE PREMISES AND PROVIDE ACCESS TO TRIBE OR
TRIBE'S DELEGATED REPRESENTATIVE FOR THE INSPECTION OF SUCH BOOKS OF ACCOUNT AT
ANY TIME.
SUCH BOOKS SHALL BE KEPT IN COMPLIANCE WITH GENERALLY ACCEPTED
ACCOUNTING PRINCIPLES, AND PURSUANT TO THE REQUIREMENTS OF THE ACT AND THE TERMS
OF ANY APPROVED COMPACT FOR CLASS III GAMING.
MANAGER SHALL PREPARE AND PROVIDE
TO THE TRIBE COMPARATIVE FINANCIAL STATEMENTS MONTHLY, QUARTERLY AND ANNUALLY OF
ALL SALES, REVENUES AND ALL OTHER AMOUNTS COLLECTED AND RECEIVED, AND ALL
DEDUCTIONS AND DISBURSEMENTS MADE THEREFROM IN CONNECTION WITH THE GAMING
OPERATION AND IN CONFORMANCE WITH THE BUDGET.
AN INDEPENDENT, QUALIFIED
CERTIFIED PUBLIC ACCOUNTANT SELECTED BY THE TRIBAL REPRESENTATIVE AFTER
DISCUSSIONS WITH THE MANAGER SHALL PERFORM AN ANNUAL AUDIT OF THE GAMING
OPERATION AND OF ALL CONTRACTS FOR SUPPLIES, SERVICES OR CONCESSIONS FOR A
CONTRACT AMOUNT IN EXCESS OF $25,000.00 ANNUALLY (EXCEPT CONTRACTS FOR
PROFESSIONAL LEGAL OR ACCOUNTING SERVICES) REFLECTING OPERATING EXPENSES AS
DEFINED HEREIN.
THE COSTS INCURRED FOR SUCH AUDITS SHALL BE AN OPERATING
EXPENSE OF THE GAMING OPERATION.
SUCH AUDITS SHALL BE PROVIDED BY THE BUSINESS
COMMITTEE, ON BEHALF OF THE TRIBE, TO ALL APPROPRIATE GOVERNMENTAL AGENCIES, AS
REQUIRED BY LAW, AND MAY BE USED BY MANAGER FOR REPORTING PURPOSES UNDER FEDERAL
AND STATE SECURITIES LAWS, IF REQUIRED.
A.
CERTIFIED PUBLIC ACCOUNTANT.
MANAGER SHALL EMPLOY, AS AN
OPERATING EXPENSE, A BOOKKEEPER, CERTIFIED PUBLIC ACCOUNTANT OR ACCOUNTING FIRM
TO OVERSEE THE PERFORMANCE OF SUCH ACCOUNTING