On July 22, 2021, Simpcw First Nation (the “Nation”) received a Financial Management System (FMS) Certificate from the First Nations Financial Management Board (FMB). This means their finance and administrative practices now meet FMB , which are based on internationally recognized standards of financial management.
About Simpcw First Nation
Simpcw First Nation is located in Barrière, BC, with a total population of over 700 members, many of whom live in Chu Chua, the location of the main village. The Simpcw people are part of Secwepemcul’ecw – or Shuswap Nation – and have lived in the territory since time immemorial. The Simpcw people are known for their hunting and fishing abilities. “Simpcw First Nation is committed to creating a strong future for our people. We strive to uphold our culture, as well as work towards economic sustainability and professional development for our community” is stated as their future goal.
On their journey towards FMS Certification, the Nation developed a Financial Administration Law (FAL) and also received a Financial Performance Certificate making the Nation eligible to apply for long term affordable financing from the First Nations Finance Authority. To achieve FMS certification, the Nation worked closely with the FMB staff to bring their FAL to life.
“Simpcw leadership in collaboration with its administration, strive to ensure that Simpcw’s financial management is of the highest standard. We are accountable to our people and must demonstrate our abilities to manage all aspects of the Nation in a fiscally responsible manner. The FMS certification is an achievement we are very proud of and affords Simpcw with the financial freedom to build our future.” – Chief Shelly Loring
The FMB acknowledges the strong leadership of the Nation’s Chief and Council and the dedication of their staff that were key into achieving FMS Certification. The FMB recognizes the Nation on this major accomplishment!
About FMB
The FMB is a First Nations-led nonprofit organization that supports First Nations in developing sound finance and administrative governance practices. The FMB was created under the First Nations Fiscal Management Act (FMA) in 2006. Services offered are at no cost to First Nations. For more information on all products and services, visit fnfmb.com.
Working with FMB and seeking FMS certification provides several benefits including:
- Increased transparency and accountability to members and future business partners
- Building skillset and reputation for strong finance and administrative governance practices
- Provides council members and staff the tools they need to better manage the Nation’s finances
- Increased stability and continuity through finance and governance practices
- Improved risk management