Council must also create a policy on the First Nation’s investments and investment strategy. This policy should take into account the short-term and long-term investment strategy of the First Nation and the allowed use of available money.
This policy must also include the requirement to:
- perform an estimation of the risk involved before investing
- get the approvals needed before investing
- keep and maintain the records of all investment decisions
- outline the steps to make sure that all investments made by the First Nation follow any added standards set by the FAL