Local Revenues Bank Account

Council must create a policy for the operation of the First Nation’s local revenues bank account.

This policy must state that:

  • a bank account is maintained and operated only for local revenues received by the First Nation
  • this bank account does not contain any money other than local revenues
  • this bank account is not used for any spending other than the spending outlined in the policies mentioned below
  • records of all bank account transactions (deposits and withdrawals) are kept and available for review at any time

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