Eligibility Criteria

There are two pathways for eligibility:

  1. First Nations Fiscal Management Act (FMA) and Financial Administration Law (FAL)
  2. Indian Act and Financial Administration Bylaw (FAB)
10-year grant pathways EN

Path 1: Scheduled to the FMA

Financial Administration Law (FAL)

  • If your First Nation is a participating Nation of the First Nations Fiscal Management Act and already have a Financial Administration Law, you may need to amend it to ensure that it will meet the grant eligibility criteria.
  • If your First Nation has its name on the Schedule to the First Nations Fiscal Management Act but does not yet have a FAL, this will need to be developed first. Please contact our office to discuss how to get started and how the FMB can assist.
  • Deadline: your FAL must be signed off (enacted) by Chief and Council and approved by the FMB by November 1, 2018.
  • Download Sample FAL

Financial Performance Review

  • Submit most recent 5 years of audited financial statements .
  • FMB staff will review your five years of audited financial statements and use them to calculate the five Financial Performance ratios that form part of the grant eligibility criteria.
  • Read more on FP ratios

Path 2: Under Indian Act

Financial Administration Bylaw (FAB)

  • If your First Nation currently operates under the Indian Act and has not requested to have its named added to the Schedule to the First Nations Fiscal Management Act, a Financial Administration Bylaw will need to be developed.
  • If your First Nation already has an existing FAB under the Indian Act, you’ll need to submit your FAB to the FMB for review and consideration. If your FAB does not meet the grant eligibility criteria, you may need to repeal your entire bylaw or replace it with the sample FAB that we provide.
  • Deadline: your FAB must be signed off by Chief and Council and reviewed by the FMB by November 1, 2018.
  • Following its review, the FMB will provide advice to the Minister of Indigenous Services Canada who will be responsible for approving a new or amended FAB under section 83 of the Indian Act.
  • Download Sample FAB

Financial Performance Review

  • Submit most recent 5 years of audited financial statements.
  • FMB staff will review your five years of audited financial statements and use them to calculate the five Financial Performance ratios that form part of the grant eligibility criteria.
  • Read more on FP ratios

Difference between FAL and FAB:

  • A FAL is enacted under section 9 of the First Nations Fiscal Management Act and must be approved by the FMB
  • A FAB is enacted under section 83 of the Indian Act and must be approved by the Minister
  • For the purpose of 10-Year Grant eligibility, the AFN, ISC and FMB agreed that the same standards must be met when developing a law or bylaw regardless if you’re operating under the FMA or the Indian Act.

If you have any questions or need support with developing a FAL or a FAB, please contact us at 1-877-925-6665 or 10years@fnfmb.com.

See Presentation (PDF).