Friday, January 15, 2010
The local revenue sharing board is hiring a auditing firm this week. The casino makes about $1 million a day. Four Winds Casino Resort opened in August 2007 in New Buffalo, Michigan.
2 percent of slot machine revenues goes back to communities. Under the payment formulas, local units of government are suppose to be repaid, like police and fire expenses.
After the casino pays the actual costs to local communities, 65% of the remaining casino revenue is distributed based on their millage rates.
Among the top cash recipient is New Buffalo Public Schools because of it's high mileage rate.
The remaining 35% is distributed to local governments surrounding the casino. The auditing firm of David Schaffer and Layher was given a three year contract for up to $5,000.
The whole story link
South Bend Tribune, January 15, 2010.