Who owns and controls the FMB?
The FMB operates as a shared governance institution under pgovernance institution under parts three and six of The First Nations Fiscal Management Act (FMA). The FMA sets out the purposes, functions, and powers of the FMB, and establishes an-at-arm’s length relationship between the FMB and the federal government. The FMB Board of Directors are responsible for the overall direction of the FMB. The Board ensures that the FMB fulfills its legal and regulatory mandate under the FMA.
Is the FMB part of Indigenous Services Canada (ISC) or the federal government?
The FMB is an independent First Nations institution with its own Board of Directors that was created through federal legislation (The First Nations Fiscal Management Act). We are accountable to the Canadian parliament through Indigenous Services Canada (ISC). The FMB currently receives all of its funding from ISC and has a strong working relationship with this federal ministry.
Who does the FMB work for?
The FMB is not an agent of the Crown. We are accountable to the Minister of Indigenous Services Canada (ISC).