After more than two months of operating under a continuing resolution, Tribal Council has approved a new budget for the Eastern Band of Cherokee Indians.
Budget approval was delayed from the typical deadline of Sept. 30, which aligns with the end of the tribe’s fiscal year, to allow the incoming administration of Principal Chief Michell Hicks to have a say in the process and to make adjustments for declining casino revenue projections for fiscal year 2024.
In April, an estimated $515 million was expected to flow back to tribal government and per capita distribution from the Tribal Casino Gaming Enterprise in fiscal year 2024, but by the end of August that prediction had fallen to $438.3 million.
