Spirit Lake Tribe
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Tribal
Entities & Businesses
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Finance Department
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| ACCOUNTING SYSTEM DESCRIPTION | ||||||||||||||||||||||||||||||||||||||||||||||||
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The accounting department is under the direct supervision of the Tribal Treasurer and headed by the Chief Financial Officer. The duties include the supervision and maintenance of the accounting records for all cash receipts, cash disbursements, accounts payable, encumbrances, budgeting, payroll and personnel records, property records, and other accounting related records.
A fully integrated computer based accounting system has been in place for several years. It assists in the maintenance of cash receipts journals, cash disbursement journals, general journals, the general ledger, trial balances, balance sheets, statements of revenue and expenditures with budget controls, and other financial reports.
This integrated computer based accounting system includes the general ledger, accounts payable, encumbrances, and payroll, all vendor checks and payroll checks are processed through the computer.
Fund accounting principles are followed, where each fund or grant is accounted for as a separate entity with its own complete set of self-balancing accounts.
The Spirit Lake Tribe has also implemented an adequate system of internal controls for cash receipts, cash disbursements, adjustments and accruals, budgeting, purchasing and accounts payable, payroll, and other related areas.
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