05.04.040 Conformance with GAAP and Standards.
The provisions of GAAP, including applicable governmental fund accounting and reporting principles and standards, as are promulgated by the American Institute of Certified Public Accountants and other authoritative bodies, are hereby adopted for the Cowlitz tribal government and all of its administrative bodies.
(1) All financial resources and other assets of the Cowlitz Indian Tribe shall be accounted for in accordance with GAAP as applicable to Tribal governments, and in accordance with the following policies:
(A) The accounting records of the Cowlitz Indian Tribe shall be maintained within the tribal office or those of the administrative bodies.
(B) The accounting year for the Tribe and all of its administrative bodies shall be the calendar year.
(C) All resources over which the tribal council exercises any form of governmental, fiduciary or agent responsibility shall be accounted for within tribal accounting records and reports, provided that certain administrative bodies, with approval of the tribal council, may maintain independent accounting and reporting systems in accordance with the provisions of this policy. [Res. 22-120, 2022.]