September
Project
Financial Administration Law Documents - Initial Development
Background
The FMB developed extra guidance and tools to go with the Financial Administration Law Standards.
Details
- Created separate Procedures to make it clearer to First Nations how the FMB approves a FAL.
- Created a sample FAL to make it easier and more cost-effective for First Nations to develop a FAL that meets FMB Standards.
- Created detailed Explanatory Notes to make it easier for a First Nation’s legal advisor to draft a FAL.
Deliverable
- 1st Edition of Financial Administration Law Review Procedures
- 1st Edition of Financial Administration Law Standards
- 1st Edition of Sample Financial Administration Law
- 1st Edition of Sample Financial Administration Law Explanatory Notes
Project
Financial Management System Documents - Initial Development
Background
Creating standards for a Financial Management System within a First Nation government, as well as system review procedures.
Details
- Developed Standards and Procedures to support First Nations in setting up good financial management systems and bringing their FAL to life.
- Outlined how a First Nation can ask the FMB to review its financial system and get a Financial Management System Certificate.
Deliverable
- 1st Edition of Financial Management System Certification Procedures
- 1st Edition of Financial Management System Standards
Project
Financial Performance Documents - Initial Development
Background
Creating standards for a Financial Performance Certificate, as well as financial performance review procedures.
Details
- Developed Standards to allow First Nations to receive a Financial Performance Certificate. This enables a First Nation to become a borrowing member of the First Nations Finance Authority.
- Outlined how a First Nation can ask the FMB to review its financial performance and get a Financial Performance Certificate.
Deliverable
- 1st Edition of Financial Performance Certification Procedures
- 1st Edition of Financial Performance Standards
November
Project
Financial Administration Law Documents Revision
Background
Improving the Financial Administration Law Standards and Sample FAL to better support First Nations.
Details
- Deleted Section 25.6 (Recovery of moneys), Section 26 (FAL Review), Section 27 (Annual Operations Report), Section 28 (Provision of law to First Nations Finance Authority), and Section 29 (Coming into force).
Deliverable
- 2nd Edition of Financial Administration Law Review Procedures
- 2nd Edition of Financial Administration Law Standards
- 2nd Edition of Sample Financial Administration Law
- 2nd Edition of Sample Financial Administration Law Explanatory Notes
Project
Financial Management System Documents Revision
Background
Improving the Financial Management System Standards to better support First Nations.
Details
- Clarified the introduction.
Deliverable
- 2nd Edition of Financial Management System Certification Procedures
- 2nd Edition of Financial Management System Standards
Project
Financial Performance Documents Revision
Background
Improving the Financial Performance Standards to better support First Nations.
Details
- Clarified the introduction.
Deliverable
- 2nd Edition of Financial Performance Certification Procedures
- 2nd Edition of Financial Performance Standards