What is a FAL?
A FAL is a set of governance and finance practices that helps Councils and staff make informed decisions and run their First Nation well. A Nation that lives by its FAL commits to good governance and finance practices over the long-term.
Why develop a FAL?
Governance and finance affect every aspect of community life. It is too important to leave it to individual Council and staff members to develop their own practices. Even if their way of doing things works, when the people are gone, so is the knowledge.
Your FAL makes good governance easier by putting the same good finance practices into the hands of current and future Council and staff members. This makes your First Nation more stable and strengthens members’ confidence in how it is run.
A FAL can help you:
- run your First Nation more smoothly.
- build a strong financial future.
- grow your economy in a sustainable way.
- be transparent about Nation finances.
- borrow money to bring to life needed projects.
- show that you use good governance and finance practices.
How the FMB can support you
Upon request, our staff provide Chief and Council and their administration support and guidance through the process of developing a FAL. This support comes at no cost to your First Nation. We work with the Nation's timetable.
Ready to work with us?
Contact us for more information or to arrange a telephone/video conference or community visit.