This funding has been directed to creating materials that will be made available through the new website. This includes such things as; videos, podcasts, summary booklets. During these unprecedented times of covid-19, we have had to shift our focus on creating and providing more digital materials for membership.
Not at this time. The Capital Transfer can be used as the nation chooses; this will be decided by the K’ómoks Members through engagement and captured in a financial plan moving into the future. If the nation chooses, they may invest some of the Capital Transfer into Economic Development ventures and opportunities. The $2.2 million that Mark was referring to is specifically to pay for the cost of running our own government. This is a vast improvement from the currently underfunded amount of $220,000 the nation currently receives to run our nation under the Indian Act.
The decision on what a Members benefit package would look like will be decided by Chief and Council, in consultation with K’ómoks Members before the effective date of the treaty. In addition, most of the communities have seen collective benefits such as new community facilities, gathering spaces, and enhanced food security for members through various fisheries programs, enhanced economic opportunities, etc. There are a number of benefits that Members will see from Treaty which include the expression of self-government; the ability to create laws and make them suit the K’ómoks and its members; more flexibility for programs and services dollars; ownership, [...]
K'omoks members may be able to user this own property (land) as collateral for loans, in addition to any security the K'omoks government may provide.
An individual Treaty Benefits Package is being contemplated. This will have to be finalized and will depend on the fiscal health of the K’ómoks First Nation.
K’ómoks has developed a draft individual benefits package. One of the suggestions was for an elders payout, but this was not the first priority. We will continue to review the benefits package with members, and determine the “affordability” of the proposal. The individual benefits package will not be made available until after the “Effective Date” of the treaty.
The treaty is a tool. It creates obligations and opportunities. It also protects rights, but there are no guarantees. Through the Financial Management Act, the Constitution, Integrity and Conflict of Interest Act and annual audits, there will be sufficient tools to provide for financial transparency. But you will also need to exercise your obligations and duties as members to hold your government accountable.
In preparation for treaty and in order to manage our finances more like public governments, a Financial Management Act has been put in place, and through the Constitution the government is held accountable. In addition, the Capital Transfer amount is intended to go into a trust account, as are profits from K’ómoks corporations.
Each of our companies is a separate legal entity, with its own Board of Directors and operates at “arms length” from the K’ómoks government. The profits from these companies, if any, go into a trust account for the K’ómoks First Nation. The terms of reference of the Trust set out what the money is to be used for, and the trustees need to ensure the monies are spent in accordance with the Trust Agreement. This will not change.
One thing that is clear is that Banks do not like investing and providing mortgages on Indian Reserves. This will change with a treaty. The treaty provides us with the tools required to participate in the financial mainstream. Banks may not understand treaty, but they understand and can work with the tools that a treaty gives us. For example, banks understand what fee simple lands are. They need to be shown that the treaty gives us fee simple lands. Banks understand the certainty of tax revenues. They need to understand that treaties give us tax revenues. So, like us, banks will need to be made aware of the financial tools that a treaty gives us.
