By Joe Morey
News Editor
The Lac Courte Oreilles Tribal Governing Board (TGB) unanimously approved the 2024 budget with a $4.6 million dollar surplus. After presenting a budget that showed projected revenue of $20,412,000 for FY 2024 and $15,774,000 allocated for expenses, LCO Vice Chairman Tweed Shuman made the motion to approve with Don Carley seconding the motion.
The motion was approved 5-0-0 with LCO Secretary-Treasurer Bill Trepanier on travel. Chairman Louis Taylor noted for the record that Trepanier stated he was for approving the budget.
According to Ernest Vargas, LCO’s Chief Financial Officer, reported the Elder Services portion of the budget will stay right in line with last year and that no changes take place for birthday or Christmas payouts, or to the auto and home repairs.
A major factor for the surplus is the increasing revenues of LCO Financial Services and the continued annual Enbridge funds.
Vargas also reported that he believes the budget will actually be stronger once program directors have made certain modifications to their budgets, which will be done by January.
“The budget will be stronger that what we are seeing today,” Vargas stated.