A funding agreement is a document containing terms and conditions by which a transfer payment is made by the Crown to First Nations for delivery of programs and services. Funding agreements are negotiated with various government departments, often on a multi-year basis. Funding Agreements are legal documents through which a First Nation commits to deliver specific programs and services while meeting minimum program standards. Rules regarding the flexibility in the use of the funding, cash flow, and adjustment methodology are included.
Community accountability means direct communication with the people to provide information to and to receive feedback and input from Band Members. It provides an opportunity to discuss Band Council business in an open and transparent manner. Community Accountability is achieved through a number of processes including the Annual Report, the audit, and the Annual General Meeting (AGM).
Appropriations are the process of allocating anticipated revenues (see Revenue Forecast) to Band programs and agencies. Program Work Plans outline exactly how much money is to be transferred to each program and when.
Expenditure and Variance Reports are monthly or quarterly spreadsheets and summaries that give an up-to-date comparison between Revenue Forecast and funds received, and between appropriations and actual expenditures on a program by program basis (see Sample Expenditure and Variance Reports). The difference between budgeted numbers and actuals is called a variance. A summary report recaps the overall financial position of the First Nation as at specific dates in the fiscal year (generally monthly).
Program Directors are accountable for the responsible management of their program within the budget as allocated. They are accountable to the Band Council for delivering programs in accordance with policy duly approved by Council or set out within a funding arrangement. They are also accountable to clients for the quality of service provided.
There are not many groups in Canada that have the unique government-to-government relationship that First Nations share with Canada. This meant there were very few products available to help First Nations deal with financial issues. That is, until now. This fiscal planning aid has been developed specifically for First Nations governments and organizations like yours. The goal of the Fiscal Planning Calendar and its components is to help you to balance fiscal pressures from your communities and funding agencies by following a simple process.
AYEP seeks to help Indigenous youth develop the attitudes and skills necessary to achieve success in secondary school, the workplace, during post-secondary education or training, and in daily life. The curriculum teaches students to develop entrepreneurial opportunities that can lead to business ownership. They gain an introduction to business that will help them prepare for the working world regardless of their choice of career.
