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Can you summarize IC 4-29.5-4-11?
Administration and Regulation of Class III Gaming > Accounting requirements
Short Summary
This legal document governs the accounting and financial activities for Class III gaming under the Tribal-State Compact with the Pokagon Band of Potawatomi Indians. It requires the Band to conform to industry standards and generally accepted accounting principles (GAAP). The Band is required to maintain accounting records on a double entry system, including detailed subsidiary records. The document specifies various records that must be maintained for a minimum of three years, such as revenues, expenses, assets, liabilities, equity, daily cash transactions, credit instruments, game records, vendor and contractor documents, gaming enforcement activities, audits, and personnel information on Gaming Officials and Employees. This document was added by P.L.171-2021, SEC.1.
Whom does it apply to?
The Band (Pokagon Band of Potawatomi Indians)
What does it govern?
Accounting and financial activities for Class III gaming under the Compact
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Indiana