'It's not a done deal,' was the tagline used by groups opposing a massive casino, resort, convention center and RV complex proposed three years ago by then-leaders of the White Earth Band of Chippewa. The rallying cry of those opposed to a casino on Star Lake in Minnesota's Otter Tail County proved to be correct. The tribe has since passed a resolution calling for arbitration under the agreement.STAR LAKE, Minn. The remaining amount due on the letter of credit is about $1.2 million and it was presented for payment by the energy cooperatives and paid by Bremer Bank on Dec. So far, the tribe has paid about $428,000 towards the substation construction, independent of the letter of credit. The agreement was signed in the spring of 2016, and includes $2 million tribal Letter of Credit with these entities. The Tribal Council is disputing the Electric Service Agreement with Lake Region Electric Cooperative (the local provider) and Great River Energy (provider of power to Lake Region). The Tribal Council earlier this year decided to kill the controversial Star Lake Casino project and is now taking its financial lumps: There will be a $5.8 million reserve taken in Fiscal Year 2018 as an extraordinary item for the write-off of expenditures related to terminating the Star Lake Casino project, representing costs related to the Environmental Assessment Worksheet, engineering and architectural plans for the casino, infrastructure planning and related financing and construction preparations - including $428,000 spent on a new electrical substation, as part of a $2 million agreement with electrical cooperatives. 'If there are issues, the report will highlight those areas,' Roy said. 'Currently the auditors have not found any discrepancies,' Roy said, as was reported to him by Jay Welsh of Brady Martz and Associates on Dec. The report is required to be sent to the National Indian Gaming Commission no later than Jan.

30, with expenditures of about $8.7 million, for profits of $971,000.įinancial audits from Brady Martz & Associates are now underway. The Bagley Casino continues to experience increased revenues and net income, earning $9.7 million in revenue through Sept. The tribe transferred $9.7 million from gaming in FY18 to sustain the general fund, otherwise reserves would have grown by $11.3 million, he said. 'But this doesn't include tribal transfers.'

'So we grew cash reserves by about $1.9 million,' Roy said. 30, 2017, at the end of that fiscal year, was $17.6 million. This includes cash carryover from previous years. The tribal gaming budget currently has cash reserves of about $19.5 million, Roy reported.

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