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Tribe Making Changes After Accountant Warns of Bankruptcy

By: Associated Press
By: Associated Press

The Ho Chunk Nation is making major financial changes after a Milwaukee accounting firm told the American Indian tribe that it was facing bankruptcy.

The Milwaukee Journal Sentinel reports that Ho Chunk hired Virchow and Krause to look at its books.

In October, the firm told the tribe that if it did not make sweeping changes, the band was headed for financial ruin.

Ho Chunk runs one of the most profitable Indian casinos in the nation.

Its popular Wisconsin Dells casino and other facilities bring in more than 100 million dollars a year, about half the tribe's cash flow.

But in April, the tribe cut a per capita handout to all band members to 23-hundred dollars per quarter, down from 32-hundred and fifty dollars.

Tribal President George Lewis told the paper that other problem areas of spending were under consideration.

(Copyright 2005 by The Associated Press. All Rights Reserved.)

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