A Finance Administration Law (FAL) is a long-term commitment. Bringing it to life takes tools and training to support you do things as it is written in your FAL. We usually work with our clients over a period of one to three years to achieve your goals.
We work with your timetable and provide support based on your needs. Our services come at no cost to your First Nation.
Before getting started on bringing your FAL to life, your will need to:
Enact your FAL
- In order to work with us to bring your FAL to life, you must have enacted your FAL and had it approved by the FMB.
- Learn more about developing your FAL.
Be clear about your goals
- Some of our First Nations clients want to be able to borrow money through the FNFA more than once. If this is one of your goals, your First Nation will need to achieve Financial Management System Certification, which can happen after bringing your FAL to life.
- Learn more about Financial Management System Certification.
Choose your team
- To help things run smoothly, find someone to be the main contact for the FAL process. This could be the Finance Manager, General Manager, or a consultant working with your First Nation.
- It is also a good idea to seek legal counsel and inform the auditor at this stage to make sure everyone is clear about the commitments being made.
Get in touch with a Capacity Development Manager in your region to support you as you bring your FAL to life.