As you can see, we have NO Reserve Fund. All retained earnings have been depleted by the huge transfers of
our revenues. There continues to be NO ACCOUNTABILITY! Meanwhile, our Casino is falling apart before our eyes.
The roof is leaking, necessitating the ugly black make-shift umbrellas with hoses directing the water into garbage
cans & tarps covering machines. Some of the toilets have dirty blocks of wood supporting the toilet bowls. Water &
sewer problems continue with the dirty, discolored water and foul sewer odors emitting around the bathrooms. The
parking lots & walkways are a hazard with cracked & uneven pavement. The contract for the remodeling at the
Lodge had to be discarded because of back taxes amounting to almost half a million dollars for just FY2009 and
Members heard at the January Enterprise meeting that there’s much more that the Tribe will have to pay for past
unpaid taxes! The Tribe’s primary source of revenue is the dilapidated eyesore of a Casino and we now have no
money for the basic repairs that have been put on hold for years!

Remember, each and every individual Bad River Tribal Member is a Shareholder. These Enterprise revenues
belong to the Shareholders. Please take some time to look at these financial reports then ask our elected officials
what they are doing about these troubling facts.
                    Looking at our Enterprise Financials: Seeing Red

    Of the long overdue Enterprise financial reports for August 2010 to January 2011 (6 months), the Oct, Nov and
    Dec 2010 reports have recently been made available. These 3 financials should raise many an eyebrow. With
    these reports, more questions abound than are resolved. First question is, without an ending balance from the
    previous month, how is the beginning balance established? Secondly, when will the Aug & Sept 2010 Enterprise
    financials be available? More importantly, we want to know, what is happening with our Enterprise revenues? A
    closer look at the net profit/loss, transfers out & the retained earnings (reserve funds), literally makes us see red!
    Enterprise revenues are reported as :

    Oct 2010   $1,018,253.93
    Nov 2010     $211,477.18
    Dec 2010     - $14,291.25

    The Enterprise revenues transferred out exceeded the profits for Nov & Dec 2010:
    Oct 2010     $65,944.86
    Nov 2010   $907,337.64
    Dec 2010     $66,031.86

    The transfers out created negative balances in the retained earnings (reserved funds) for Nov & Dec 2010:
    Oct 2010    $ 947,309.07
    Nov 2010  - $695,860.46
    Dec 2010    - $80,323.11   

    Some people prefer to see charts & graphs. We took the financial info and did just that:


                                                  NET PROFIT  (LOSS)
    CASINO COMPLEX:
                                
        ....OCT 2010                    NOV 2010                       DEC 2010    
    CASINO             $850,623.59                  $354,639.42                    $143,079.99
    ACCOUNTING     (10,764.87)                   (24,063.95)                     (33,274.40)
    BAR                       17,481.61                     (2,496.68)                       (4,133.16)
    FOOD SERVICE   60,500.50                    (79,404.88)                     (68,208.76)
    SMOKE SHOP        4,153.95                        9,565.25                          8,197.02
    LODGE                  27,392.22                   (26,372.63)                     (25,983.91)
    TOTALS:           $949,387.00                  $231,866.53                    $ 19,676.78

    MOCCASIN TRAIL COMPLEX:                

    GROC STORE   $ 36,295.48                   ($18,178.63)                    ($20,505.60)
    GAS STATION     27,571.45                        (2,210.72)                      (13,512.43)
    MT PURCH                 0                                     0                                      0
    TOTALS:            $63,866.93                    ($20,389.35)                    ($33,968.03)

    ENTERPRISE
    TOTALS:            $1,013,253.93                $211,477.18                    ($14,291.25)
                                             
                                                     ENTERPRISES TRANSFERS OUT :
                                 OCT 2010                      NOV 2010                           DEC 2010
                                $65,944.86                    $907,337.64                        $66,031.86