KETTLE & STONY POINT FINANCE DEPARTMENT

The functions of the Finance Department are processing of payroll, payments for goods and services, invoicing of fees and rentals, coordinating the First Nation’s comprehensive audit, administering the employee benefits program, providing financial data to other programs for reporting purposes, coordinating the budget process including minor capital and being a resource to the Financial Management Board.

The accounting firm of BDO Dunwoody LLP performed the First Nation’s general audit for 2005-06 and Partridge & Skrypnyk LLP completed the corporate audits which were approved by Council on July 20, 2006.  The Board mandated that audit tenders begin for the next audit preparation however, this was deferred until December 2006.

Updates for 2005-06

On a day to day operational level:

1. A debit machine was installed in the finance office to accept payments on accounts.

2. Petty cash funds were approved for the Education department, Children’s Services program and Health Services and the Minor Purchases Policy amended to include them.

3. GST and PST rebate applications were completed by Squibb & Associates and brought up to date with funds being received.

4. Travel Advance forms updated for accountability purposes.

5. Cheque disbursement procedures changed so only the payee can receive their cheque or it will be mailed.

6. Revisions made to Council/Committee travel honoraria policy.

7. Authorization given to Finance to pay utilities over $2500 to avoid service charges but reporting required to the Board.

8. March 2006, new information obtained regarding Employer Health Tax and the First Nation’s need to remit.

     9. In February 06 updated Treasury Board rates were adopted    

          for staff travel to be effective April 1/06.

On the Financial Management Board level, these activities took place:

1. An engagement letter was signed with Jeremy Pillon, Incue Wealth Management as the Investment Portfolio Manager and also he’s to provide ongoing negotiations for banking terms and annual fees.  Additional tasks are discussed and regular reporting is required.

2. A Housing Rental Payment agreement was approved between Housing and Social Services regarding payments made on behalf of members’ accounts.

3. Letters were directed to homeowners who have paid off their loans and therefore have had their land transferred back to them.

4. Changes were made to the employee benefits plan to keep current and consistent.

5. It was decided that Canada Pension Plan deductions would become mandatory for all staff effective April 1/06.

6. 2006-07 minor capital requests were approved in October 05 for Roads, Job Connect, Housing, Children Services, Health, Finance and Administration.

7. 2006-07 operating budgets were approved in December 05.

8. An engagement was signed with MBC Solutions to provide computer software and hardware support services.

9.Investment Policy was approved.

10.In November 05 discussions started with Indian & Northern Affairs regarding funding arrangement renewals.  The 5 year CFNFA expired March 31, 2006.  During this period, terms and conditions were reviewed, program budget numbers assessed so Council can make the decision most beneficial to the community.  The arrangement was rolled over by approval in February 2006 for another 5 years.

11. Recommendation to Council to implement the 20% net pay deduction for employees with outstanding accounts.  Opportunity was given to make arrangements prior to the April 1/06 deadline.

12. In January 2006 the Board authorized the release of certified cheques to purchase the Indian Hills property which was finalized on February 16, 2006.  Following purchase a start up loan was approved for leasehold improvements and working capital to prepare for the upcoming season.

13. Funds were released to a Band member for phase I of language proposal to develop the marketing tool for Kettle Point.

14. In March 06 the Board approved expenditure requirements for the election process as costs are no longer provided by INAC.

Donations and sponsorships were approved by the Board towards the following:

* 4^th Annual SFNS Golf tournament raising funds for Elders & Youth Gathering

* Ted Nolan Charity Golf tournament banquet

* Victorious Faith Fellowship Camp Meeting – Murray Shawnoo Jr.

* Community Camp meeting – Carmen Rogers Sr.

* C.K. Shawkence Annual Golf Tournament

* Kettle Point United Church

* London District Chiefs Council Elders & Youth Gathering (annual commitment)

* Living Water Ministries Camp meeting – Jennie George

* “Golfing for Our Children” by the Indigenous Education Coalition

* AEI Golf Tournament

* Hillside 10^th anniversary celebration

* Joyce Thomas

* Christmas Candy

* Panthers Novice Hockey Team

* 2 Kettle Point Pee Wee hockey players

The Board insists on receiving reports from individuals receiving donations or sponsorships before any future requests are considered.

These annual events were sponsored by the First Nation. 

-Kettle Point Pow Wow -Solidarity Day fireworks

-Remembrance Day -Union of Ontario Indians Unity Gathering

It is a pleasure to serve the community of Kettle & Stony Point First Nation!

Sharman Bressette, CAFM, Comptroller