Cherokee Nation finance official: December revenue beat budget; net income about 45% higher than last January

Ben Blosch, filling in for CEO Garrett, reported to the Cherokee Nation council that December was "especially strong" for the tribe’s finances and that revenue for the month came in above budget. "Our revenue came in above budget," Blosch said, adding that the tribe’s net income also exceeded its performance from last January "by about 45%."

Blosch attributed the bulk of the positive outcome to Cherokee Federal, where a number of large fixed‑price projects wrapped up in December and allowed the tribe to reconcile billings and recognize additional revenue. "These fixed price projects, when they finalize, we're able to true up, reconcile all of the billings, all of the expenses," he said.

He also told the council that Cherokee Nation Enterprises' gaming operations (CNE) continued to perform well, and that momentum from December carried into January until a recent snowstorm curtailed some business. "We were actually tracking to potentially the best January in C and E's history, but all that snow and everybody stayed home," Blosch said.

While celebrating the month’s results, Blosch cautioned that the rest of the fiscal year presents uncertainties — citing an "unprecedented time" in government spending and contracting, particularly for 8(a) contracts — and said leadership expects challenges ahead. "Our expectation is the rest of the fiscal year is going to... face a lot of challenges in terms of that business," he said.

The report closed with no questions from council members. The council later proceeded to other business and votes.