The Wright Perspective℠
Social Commentary from the C-Suite to Main Street℠
A Blog by Gary Wright II
Tribal Unity Topic #1: Finances
Sunday, November 27th, 2011
Tribal Unity Topic #1: Finances: How can a tribe be financially independent?
The first answer is usually casinos followed by taxes on tobacco and alcohol. Last year in the Cherokee Nation gaming brought in only 6.29%, with taxes generating only 5.1% of revenue (Gas - 7,256, Vehicle - 7,707, Tobacco - 4,194, Sales tax - 2,314).
The breakdown of their income:
- Operating Grants / Contributions - 68.79%
- Charges for services / misc - 16.44%
- Dividends from Component Units (casino) - 6.29%
- Taxes - 5.1%
- Grants / Contributions not restricted - 2.65%
- Unrestricted Investment Earnings - 0.49%
- Capital Grants / Contributions - 0.24%
Without the large operating grants, what ways can a tribe achieve financial independence?
-- Gary Wright II