February 5, 2024 - Value of the FMA to First Nations | Research Report
This report outlines the advancements that First Nation governments have achieved through collaboration with the First Nations Fiscal Management Act (FMA) institutions, focusing on the period from 2006 to 2021. It reveals that active engagement with the FMA is associated with significantly higher levels of financial health and sociodemographic outcomes amoung First Nation communities. For ease of analysis, the adoption of a Financial Administration Law (FAL), achievement of Financial Performance Certification (FPC), and receipt of Financial Management System Certification (FMSC) are uses as factors of collaboration with the FMA institutions. The findings demonstrate that First Nations governments leveraging FMA tools not only experience stronger financial health but also witness notable improvements in formal education levels and housing quality. Through a detailed analysis of data, including a comparison of census information and audited financial statements, the report highlights the critical role of robust financial management and the positive outcomes of FMA engagement for fostering community development and fiscal autonomy.
October 25, 2023 - Indigenous Investment Commission Scoping Study
Indigenous people need better investment management options. The FMB is proposing an investment fund management service designed and led by Indigenous people, for Indigenous people. The Indigenous Investment Commission would offer better control over investments and greater choice. It could result in lower fees and increased returns. Investments would be aligned with Indigenous values and in Indigenous communities and businesses. The FMB recently partnered with KPMG to do a scoping study to explore the investment challenges currently facing Indigenous communities and the potential of the IIC as an Indigenous-led solution.
October 16, 2023 - Addressing Gaps in Indigenous Access to Finance | IDB Pre-Scoping Report
Access to financing remains a significant barrier to Indigenous economic development, reconciliation, and self-determination. The FMB recently partnered with Momentus Global for a pre-scoping study on the current state of Indigenous access to financing across a broad range of economic sectors, and mechanisms for overcoming barriers. Specifically, this report examines the proposal for an Indigenous Development Bank as a preferred approach to increase access to capital and unlock the Indigenous economy.
October 16, 2020 - First Nations Revenue Research Report
The FMB embarked upon the revenue source research in order to quantify the impact that the COVID-19 pandemic was having on Indigenous economies. It is estimated that First Nations’ business revenue decreased by $142.3 million in the second quarter of the 2020 calendar year and a total decrease of $1.9 billion is forecast for the 2021 fiscal year. The absence of readily available trusted data of the kind contained in this report points to the need for the re-establishment of a First Nations Statistical Institute.
Apr. 2018 - First Nations Governance Project: Phase 1 Report
The United Nations Declaration on the Rights of Indigenous Peoples (“UNDRIP”) gives Indigenous peoples the right to govern themselves. The FMB and the Institute of Governance created the FNGP to help First Nations make the UNDRIP work for them. Phase 1 will look at how First Nations can best use the UNDRIP to manage their own communities and work with Canada.
Oct. 2017 - Journal of Aboriginal Management
In October 2016, at the request of INAC Minister Bennett, the FMB began working with five First Nations who were under INAC’s third party management. The communities volunteered to become participants in an FMB Default Management Prevention Pilot Project (DMPPP).