The policy must state that the senior financial officer must prepofficer must prepare any special purpose reports that are needed by the First Nation’s FAL on a yearly basis. The reports may include, but are not limited to:
- the yearly report on remuneration and expenses of Councillors
- a report clearly stating all payments made by the First Nation to fulfill guarantees and indemnities
- a report clearly stating all debts and required tasks that have been waived by the First Nation during the fiscal year
- a report clearly stating the money and property the First Nation has gained from First Nation lands . This report is only needed if the First Nation has a land code in force. (Some First Nations manage their land and have adopted land codes under provisions of the First Nations Land Management Act). The money and property gained from First Nation lands must be presented in the report as separate from other money and property earned and shown in its own category. This report must also separate money and property gained from natural resources on First Nation lands
Members of the First Nation must have access to the yearly audited financial statements and the special purpose reports. These reports must be easy to access and available at all times. How to access these reports must be made clear to members of the First Nation.