Treaty 2 Territory – The Financial and Administration Circle has jumped right into moving the mandate forward with its first fall meeting on Thursday, 17 September 2020. Each Local Nation selected a member with financial, administration experience and understanding to sit at the committee.
The committee advises the Executive Council with the financial operations and administration of AA-T2 and FNT2T. The committee ensures sound accounting practices and financial controls are appropriately established both internally and externally.
Other key functions are to ensure compliance with Financial Administration Treasury law within FNT2T legislation and policy. Review and make recommendations to the Governing Council on the administration within FNT2T; and the Treaty 2 territory. Review and make recommendations to the Governing Council relating to annual audits by our FNT2T Treasury. Monthly financial statements of FNT2T made by our Finance/Policy. Take part in the presentation of the audited annual financial statements.
A key agenda item today was to review the administration and financial operations including the trust/treasury funds from levies, taxation and unfinished treaty business.
The committee spent a large portion of the meeting on the Terms of Reference and amendment recommendations of operations. Although the ToR has been well prepared throughout the years, the annual review was still performed. Some tweaking and terminology amendments have been recommended for change.
Ryan Sutherland, Corporations Keeper made a presentation on the Trust and Treasury resolutions that were recently passed on 3 September 2020 at the Governing Council.
The Trust – was created to take back funds that other agencies and governments have been managing on behalf of our Nation.
The Government of FNT2T and Anishinaabe Agowidiiwinan – Treaty 2 Trust Fund and Land Trust has been established for the investment of funds that will retain purchasing power and while preserving the Lands and Natural World in the Treaty 2 territory.
The Treasury – has been established to manage all funds from infrastructure, programs, and services (IPS) that are currently being managed by other agencies and governments. The Treasury will manage Trust Funds under the Financial Administration Treasury Law according to the Trust Indenture terms and conditions.
The Treasury ensures that funds be invested to retain purchasing power for the current needs and the next seven generations.
The Financial and Administration Circle is mandated to meet monthly to move all functions and matters forward.
Transparency and accountability continue with such reporting.
Last modified: April 20, 2021