An internal memo detailing cash flow problems has spurred rumors that the Mandan, Hidatsa and Arikara Nation of North Dakota is going bankrupt.
The June 15 memo from the tribe's chief financial officer said the tribe might not able to make a $750,000 payroll to employees due to lagging casino revenues. The tribal council responded by ensuring the payments would be made.
But some believe the tribe is indeed in a financial mess. Tribal members have asked the federal government to audit the tribe's books.
Three Affiliated Tribes chairman Tex Hall said the only money the tribe owes is a 30-year $1.8 million loan.
Get the Story:
Tribe's officials say budget woe rumors not true
(The Bismarck Tribune 7/10)
Relevant Links:
Mandan, Hidatsa and Arikara Nation - http://www.mhanation.com
North Dakota tribe not bankrupt despite rumors
Monday, July 12, 2004
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