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Intervention [First Nations Financial Management Board, FNFMB]

Publisher: 
First Nations Financial Management Board
Publisher acronym: 
Year of publication: 
2019

If a First Nation defaults on a First Nations Finance Authority (FNFA) Borrowing Agreement or fails to comply with local revenues laws as governed by the First Nations Tax Commission, the FMB has the authority under the First Nations Fiscal Management Act (FMA) to step in to provide support.

Intervention is a support process that enables the FMB to investigate, understand, manage, and resolve any problems relating to:

Non-compliance with taxation laws.
Risk or actual default of debt service payment(s) to FNFA.
Learn more about Intervention of Local and Other Revenues – Policy Summary (PDF)
We do this for the benefit and protection of all parties involved in the FMA framework, including the First Nation. Everyone involved needs to have confidence in the ability of borrowing First Nations to manage their financial management system properly and to repay their debt service payments to the FNFA.



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