The following videos are part of the #BeyondTransfers series and debuted at the 2018 National Meeting.
“Fiscal power allows us to do what works for us.” -Tulo Centre Chair, Chief Michael LeBourdais.
Fiscal power provides decision making power, financial security and autonomy as a government and community. When a community has fiscal power, they can contribute towards service jurisdictions such as education, health, land management and other local services. It’s the foundation of the jurisdiction based fiscal relationship.
Webinar: The Role of a Tax Administrator
5th Apr 2019 | by: FNTC
In this brief webinar, Instructor Deanna Honeyman reviews the role, responsibilities, relevant processes and available resources to tax administrators. Honeyman has worked with the Tzeachten First Nation, located in the Fraser Valley of B.C., for 10 years, currently serving as its Lands and Property Taxation Manager.
It is an open text book in two ways. First, anyone can use it as a resource on how to create the administrative, fiscal and legal framework to support markets on First Nations and in some cases tribal lands. Our purpose is to help tribes and First Nations fill these gaps preventing us from participating in the economy. Our purpose is to provide the knowledge and skills to develop our laws, establish our property rights, generate independent revenues to build infrastructure and lower the costs of doing business on our lands.
To make sure that access to the First Nation’s information is managed, Council must create a policy for information systems used by the First Nation that follow the rules and standards below:
Having the proper controls around information management will support Council and the administration in maintaining the required levels of confidentiality and security of data.
Information management involves:
the gathering of information from one or more sources
the sorting and distributing of that information to those who need it
the management of that information through record keeping
Reporting to the First Nation on money paid to and money expensed by each Councillor is part of sound governance practices and reinforces Council’s accountability to its members. This report is to be completed yearly.
The FAL requires that Council create a policy on this that includes the steps for:
An external audit is the process of having someone independent review an organization’s financial statements and form a view as to whether or not they reflect the actual state of the money and property of the organization.
The independent reviewer (known as the auditor ) must follow certain standards known as auditing standards. The external audit provides reassurance to the First Nation and other readers of the financial statements that what they are reading reflects reality.
There are certain key tasks that need to get done in every First Nation. These involve managing the overall day-to-day operations of the First Nation that include specific tasks around finances and reporting.
The FAL requires that these be assigned to specific individuals to make sure that they get done.
Therefore Council must create a policy outlining the duties and roles of the First Nation’s officers which include the senior manager, the senior financial officer and the tax administrator (if the First Nation is collecting local revenues).
The FAL requires that a policy is created and followed that includes procedures around Finance and Audit Committee member appointment, eligibility, removal, replacement and substitution.
Sample Terms of Reference - 1 (DOCX)
Sample Terms of Reference - 2 (DOCX)
Sample FAC Member Financial Competency Guidelines (DOCX
