First Nations Financial Management Board - FMFMB

THE BALANCE SHEET
Download a copy of the FMB newsletter "The Balance Sheet".

(ACROBAT REQUIRED)

WELCOME TO THE FIRST NATIONS FINANCIAL MANAGEMENT BOARD (FMB)

The legislation is in force, the board appointments have been made, and the First Nations Financial Management Board (FMB) is now ready for operations. It is now possible for First Nations to begin using the tools established by the First Nations Fiscal and Statistical Management Act (FSMA) to create real benefits for their communities.

A primary focus of the FMB is to provide financial management system certification for First Nations that choose to apply for a property tax secured loan from the First Nations FInance Authority. To this end, the FMB will offer services in support of financial administration law development, financial management system certification, intervention and capacity development.

Although a primary focus of the FMB will be to provide services to First Nations participating in the FSMA, the tools that we have been developing have the potential for broader application. Many First Nation initiatives contemplate financial management issues. The Canadian Institute of Chartered Accountants (CICA) draft report: "Financial Reporting by First Nations" is making recommendations that we expect will impact the way First Nations report to their membership, other governments and their business partners. We have attempted to keep these initiatives in mind as we developed FMB standards and sample laws.

I encourage you to explore our web site to learn more about the FMB. If you have any questions or comments, please do not hesitate to contact us at .

Harold Calla
Chair
First Nations Financial Management Board