Governance

I want financial transparency. How can treaty guarantee this?

2021-08-26T17:58:08+00:00

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.

I want financial transparency. How can treaty guarantee this?2021-08-26T17:58:08+00:00

What laws can we put in place to guarantee future generations that money will not be misused. Has KFN committed to protecting the Capital Transfer?

2021-08-26T17:58:21+00:00

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.

What laws can we put in place to guarantee future generations that money will not be misused. Has KFN committed to protecting the Capital Transfer?2021-08-26T17:58:21+00:00

What can we do to ensure that our treaty government will be held accountable?

2021-07-16T22:50:45+00:00

Accountability requires the participation of members. Members have an obligation to inform themselves and to question their government. In the draft Constitution being developed there will be requirements for laws and policies in place to ensure the K’ómoks Government is held accountable, but this will only happen if you exercise your rights as citizens.

What can we do to ensure that our treaty government will be held accountable?2021-07-16T22:50:45+00:00

Who says where the revenue goes for the companies under Ec. Dev.?

2021-08-26T18:16:52+00:00

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.

Who says where the revenue goes for the companies under Ec. Dev.?2021-08-26T18:16:52+00:00

Banks do not seem to understand Treaty and it sounds like it is harder to get a mortgage. What can we do to address this?

2021-08-26T18:14:07+00:00

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.

Banks do not seem to understand Treaty and it sounds like it is harder to get a mortgage. What can we do to address this?2021-08-26T18:14:07+00:00

How will we pay for health and education?

2021-08-26T18:15:47+00:00

Health, Education and Social Assistance will continue to be funded in the post-treaty environment. These are universal social programs that we have a right to have. They will apply in the post-treaty environment. Other programs, those that are strictly under Indian Affairs, will be applicable as long as they continue to exist. If Indian Affairs begins to cut back on these programs, all First Nations will be affected.

How will we pay for health and education?2021-08-26T18:15:47+00:00

How do we manage our finances? How do we ensure the people are properly trained if they are not schooled?

2021-08-26T18:15:33+00:00

We do and will continue to manage our finances in a manner that conforms to financial management standards applicable to public governments. This has been explained at the annual band meeting. Individual members are provided with opportunities for education and training, but the ultimate responsibility is with the members themselves. The K’ómoks government can provide opportunities but it is up to each individual member to take advantage of the opportunities and use their own initiative.

How do we manage our finances? How do we ensure the people are properly trained if they are not schooled?2021-08-26T18:15:33+00:00

Who is going to be accountable for our money and funding? Are we ready?

2021-08-26T18:16:20+00:00

Currently, our KFN Administration is accountable for our money and receives and accounts for the funding from Indian Affairs. You will know this if you have attended the annual band meetings. This will not change. But post-treaty our KFN Government will be made more accountable under our Constitution. We are putting laws and policies in place to ensure accountability and transparent financial management of all KFN money and funding. Some of the accountability mechanisms will be built into a Financial Management Act. In preparation for this, the K’ómoks First Nation has enacted a Financial Management Law which puts in place mechanisms for greater accountability.

Who is going to be accountable for our money and funding? Are we ready?2021-08-26T18:16:20+00:00
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