The First Nations Financial Management Board ("FMB") will provide the tools and guidance that will instill confidence in First Nations’ financial management and reporting systems to support economic and community development.
The FMB is a First Nations-led organization. We believe the following core values should guide the way the FMB carries out its work:
- Integrity: We are open and honest, and honour our commitments.
- Responsive: We are responsive to the needs of our First Nations clients and our colleagues.
- Relevance: We strive to innovate and remain responsive to our First Nations clients.
The First Nations Fiscal Management Act ("FMA") establishes the following mandate for the FMB:
Assist First Nations in developing the capacity to meet their financial management requirements;
Assist First Nations in their dealings with other governments respecting financial management, including matters of accountability and shared fiscal responsibility;
Assist First Nations in the development, implementation and improvement of financial relationships with financial institutions, business partners and other governments, to enable the economic and social development of First Nations;
Develop and support the application of general credit rating criteria to First Nations;
Provide review and audit services respecting First Nation financial management;
Provide assessment and certification services respecting First Nation financial management and financial performance;
Provide financial monitoring services respecting First Nation financial management and financial performance;
Provide co-management and third-party management services; and
Provide advice, policy research and review and evaluative services on the development of fiscal arrangements between First Nations’ governments and other governments.