It is believed that the 10-year grant funding will support First Nations to build stronger communities over the long term as it will allow them to plan over several years. Learn what 10-year grant means for First Nations across Canada, and how the FMB supports First Nations that want to apply.
What is the 10-year grant for First Nations?
The 10-year grant is a funding mechanism that would provide more flexibility and predictability in how a First Nation government uses its funding to address the Nation's needs and priorities. The 10-year-grant would be based on existing funding levels.
The deadline for application has been extended to July 13, 2018 for the start of the 2019/20 fiscal year . The 10-year grant is an important step forward in building a better fiscal relationship between First Nations and Canada.
How is the FMB involved?
Indigenous Services Canada (ISC) and the Assembly of First Nations (AFN) co-developed the 10-year grant. This was a recommendation in the report “A New Approach: Co-developing a New Fiscal Relationship Between Canada and First Nations”.
The FMB’s good governance and finance practices were seen as a framework that could be used in the 10-year grant. The ISC and AFN invited the FMB to offer advice on eligibility criteria for the grant. Our role is to work with First Nations to support them to meet the 10-year grant eligibility criteria.
How the FMB supports First Nations
- Support the development of Financial Administration Laws (FAL) or Financial Administration Bylaws (FAB)
- Confirm that a FAL or FAB meets the FMB's standards
- Provide tools and templates to assist First Nations in bringing their law to life
- Analyze the financial performance of First Nations
The 10-year grant allows First Nations to do the following
- Better manage finances over a longer period to meet changing community needs
- Keep unspent funds (No claw-backs of surplus funds at year end)
- Reduce the amount of reporting and resources needed to manage your finances
- Permit easy transition to the First Nations Fiscal Management Act (FMA)
The move to ten-year grants means our governments can take a strategic approach to long-term planning and maximize the effectiveness of all resources. This builds stronger First Nations governments and will make a real difference on the ground for our families.- AFN National Chief Bellegarde