Media Release: Certification in the works with First Nations Financial Management Board
For Immediate Release
June 23, 2016
CERTIFICATION IN THE WORKS WITH FIRST NATIONS FINANCIAL MANAGEMENT BOARD
Beardy’s & Okemasis First Nation, Treaty 6 – The Council of the Beardy’s & Okemasis First Nation has signed a BCR seeking membership with and financial certification from the First Nations Financial Management Board (FNFMB) and the First Nations Finance Authority (FNFA).
“We’ve been just getting by, living month-to-month, but we work very hard to make ends meet. We must move toward economic sovereignty, give our dollars purpose – and that means having the best financial management practices and tools possible” explains Jeremy Seeseequasis, the Councillor in charge of Finance. “By seeking certification through the FNFMB and the FNFA, this will offer members of the Nation peace of mind – it means the best possible financial management, it means laws developed by our Nation to ensure better decision making, and ultimately, it means financial security for our children’s future.”
The Letter of Cooperation signed by Council June 9th authorizes the FNFMB to review all financial management aspects of the band and develop plans for the Nation to ensure certification can be achieved. It also mandates the Beardy’s & Okemasis First Nation to request from the Minister of Indigenous and Northern Affairs Canada, addition to the First Nations Fiscal Management Act.
Juliano Tupone, the band’s Chief Financial Officer says that FNFMB certified members have access to resources to develop and implement sound financial management policies that other First Nations do not have.
“Certification will enable the Beardy’s & Okemasis First Nation greater economic sovereignty through access to capital markets. It [certification] also gives us greater borrowing power at reduced rates – which means we save money over the long term.”
The FNFMB’s purpose is to provide the tools and guidance that will instill confidence in First Nations’ financial management and reporting systems to support economic and community development while the FNFA was created to provide First Nations governments with the financial instruments to build their futures on their own terms. Its mandate, set out in the First Nations Fiscal Management Act and related regulations, is to provide financing, investment and advisory services for First Nations governments.
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For more information, please contact:
Chief & Council Communications
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