‘Namgis First Nation Achieves Financial Management System Certification!

‘Namgis First Nation Achieves Financial Management System Certification!

by alnationtalk on June 29, 2021126 Views

‘Namgis First Nation Achieves Financial Management System Certification!

On April 29, 2021, ‘Namgis 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 governance practices now meet FMB Standards, which are based on internationally recognized standards of financial management.

About ‘Namgis First Nation:

‘Namgis people have occupied the lands and waters that we currently live upon since time immemorial. ‘Namgis Territory encompasses the entire Nimpkish and Kokish River Watersheds on northern Vancouver Island, along with the waters and several adjacent islands in the vicinity of Johnstone Strait and Queen Charlotte Straits. The name ‘Namgis comes from a story about ‘Namxxiyalegiyu (the Halibut-Like Sea Monster).  Historically, ‘Namgis resided throughout the territory, but currently are concentrated in ‘Yalis (Alert Bay, Cormorant Island). There are over 1800 ‘Namgis members currently living in over 100 communities in North America, as well as members in Europe, and the Middle East.

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 began working closely with the FMB staff to bring their FAL to life.

“For many years, ‘Namgis operated with sound financial policies and with the support of our Finance Committee. By developing our Financial Administration Law, ‘Namgis now has more flexibility in regard to meeting the needs of our community. This Law required we update strengthen our policies which provides us the ability to plan our financial future. We are thankful for our team who have worked very hard to implement these new policies and practices which allowed us to become certified.”

-Chief Donald Svanvik

The FMB acknowledges the strong leadership of ‘Namgis First Nation Chief and Council and the dedication of their staff that were key into achieving FMS Certification.

The FMB recognizes ‘Namgis First Nation on this major accomplishment!

About FMB: The Financial Management Board 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 www.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

Media Contacts:
First Nations Financial Management Board
Harold Calla, Executive Chair
P: (604) 925-6665

Namgis First Nation
Donald Svanvik, Chief
P: (250) 974-5556

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