On July 22, 2021, Snuneymuxw 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 Snuneymuxw First Nation
In an era of colonialism and denial of rights, Snuneymuxw First Nation set out on a path over a year ago to smash the status quo and usher in an era that promotes equitable and cultural economic principles and standards. Snuneymuxw forged a partnership with the First Nations Financial Management Board (“FMB”) to begin this change in a swift way.
Snuneymuxw is a vibrant First Nation located on eastern Vancouver Island extending across the Salish Sea to the Fraser River, Burrard Inlet, and the Howe Sound. Part of the Coast Salish People, Snuneymuxw First Nation is one of the largest Nations in B.C. with a population of over 1,700 people. Almost 167 years ago, Snuneymuxw People entered the Snuneymuxw Treaty of 1854 with the Crown on December 23, 1854. Solemn promises, and constitutional obligations to preserve and protect Snuneymuxw villages, enclosed fields, and the rights to hunt and fisheries, as formerly forever and always. This foundation for the Treaty relationship determines the rights and authorities between Snuneymuxw and the Crown as represented by Canada and B.C., including the political, economic, legal, cultural, and social priorities and outcomes. Mobilizing pathways that nurture equity and prosperity through this Treaty framework promotes the connection between Snuneymuxw Peoples and their territories.
The Snuneymuxw FMS Certification includes a new Financial Administration Law (FAL) and the Nation also revised finance and procedures. The Nation also received a Financial Performance Certificate enabling access to affordable financing from the First Nations Finance Authority. These are fundamental steps implementing Snuneymuxw authority and to determine a prosperous future for generations.
Chief Mike Wyse shares that “Our Nation is consistently blocked by Canada from accessing commerce and economic markets in this country. The inequity borne by the Indian Act and other colonial and legislative regimes is designed to oppress our people when our Treaty of 1854 is based on trade and commerce. Forging partnerships that re-balance markets to principles of respect and recognition and, re-distribute wealth in this country to the proper title holders, is another key step to rebuild and strengthen the Snuneymuxw economy. I want to acknowledge the Snuneymuxw and FMB teams for collaborating on the road to ushering in a new era.”
The FMB acknowledges the strong leadership of the Snuneymuxw First Nation’s Chief and Council and the dedication of their staff that were key to achieving FMS Certification. The FMB recognizes the Snuneymuxw First 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