OTTAWA, ONTARIO (December 19, 2012) – The Honourable John Duncan, Minister of Aboriginal Affairs and Northern Development, announced today the 11th amendment to the First Nations Fiscal and Statistical Management Act (FNFSMA), which includes the addition of 11 First Nations to the Schedule.
"I am pleased that First Nations are continuing to be added to the Schedule of the First Nations Fiscal and Statistical Management Act. By participating, First Nations are taking another step towards creating conditions for healthier, more self-sufficient communities," said Minister Duncan. "In 2012 alone, 26 First Nations opted to participate in the FNFSMA bringing the total to 95. This shows how our Government is working with First Nations across the country to ensure they play a valuable role in our economy."
“Today's announcement demonstrates that the opportunities afforded by the FNFSMA are drawing interest from First Nations in all regions of Canada. Whether it's for access to debenture financing or developing new revenue streams, participating First Nations are taking advantage of the array of fiscal tools available to them," said Mr. C.T. (Manny) Jules, Chief Commissioner of the First Nations Tax Commission. "With 95 First Nations participating, the FNFSMA is becoming recognized as a true legislative gateway to improved fiscal planning and economic growth."
The FNFSMA came into force on April 1, 2006. The Act established four institutions: the First Nations Tax Commission (FNTC), the First Nations Finance Authority (FNFA), the First Nations Financial Management Board (FNFMB) and the First Nations Statistical Institute. By opting to be added to the Schedule of the FNFSMA, First Nations are able to access various tools and services offered by these institutions. Some First Nations will be implementing a real property tax regime with the support of the FNTC; seeking approval of its Financial Administration Law and working towards financial certification with the FNFMB; and, accessing long-term pooled borrowing otherwise unavailable to First Nations, through the FNFA.
The First Nations being added to the FNFSMA Schedule include, from New Brunswick: Madawaska Maliseet First Nation and Oromocto First Nation; from Quebec: Conseil de la Première Nation Abitibiwinni and Timiskaming First Nation; from Ontario: Chippewas of the Thames First Nation from Manitoba: Cross Lake First Nation from Saskatchewan: Onion Lake Cree Nation ; and from British Columbia: Cheam First Nation, Douglas First Nation, Gitga'at Nation and Lil'wat Nation (Mount Currie Band).