Transcript Listuguj Mi’gmaq Government

Listuguj
Mi’gmaq
Government
Financial Administration ByLaw
Financial Administration By
Law
 Legislation
 Roles
 Requirements
 Financial
Assets
 Conflict of Interest
 Non Compliance
 Amendments Repeal
Financial Administration ByLaws
 Legislation
Authority
the appropriation and expenditure of
moneys of the Community to defray its
expenses;
the appointment of officials to conduct the
business of Council; and
any matter arising out of or ancillary to the
exercise of the powers described in
subsection 83(1) of the Act; and Sec 64 (1)
Financial Administration By-law
 Roles




Council
Finance Committee
Executive Director
Director of Finance
Role of Council Financial Administration By-Law
ensuring that the annual budget of the LMG does not have
expenditures exceeding revenues;
planning and budgeting financial and other resources for
local services and capital works projects;
setting policies and procedures to safeguard the resources
of Listuguj and maximize the well-being of its members;
ensuring Council and all employees of the LMG have full
financial accountability at all times to all members of
Listuguj;
ensuring the LMG meets all financial obligations with third
parties;
ensuring all investments in financial instruments are made in
accordance with prudent investor standards;
.
Role of Council
ensuring that all employees of the LMG who manage and control
community funds are
responsible for maintaining accurate financial records, and
qualified for the position to which they are appointed by
LMG’s administrative services;
permitting access by all Listuguj members, under the supervision of
Council or its designate, to Listuguj by-laws, annual budgets,
annual audited financial statements and annual audit reports of
the LMG;
ensuring that all financial records of the LMG, including computer
files, are kept in the administration office in a secure and safe
condition, and are not removed from the office without the
authority of Council, such authority to be evidenced by resolution;
and
ensuring the sale of any assets owned by Listuguj is for no less than
fair market value
Financial Administration By-law
 Requirements

Annual Balanced Budget

Annual Audit
Financial Administration By-law
 Financial




Assets
Bank Accounts
Expenditures
Borrowings
Collections
 Applies
only to Members if money lent or
owed to Band I.E. LTO Contract

Contracts
Financial Administration By-law
 Conflict



of Interest
Council
Directors
Employees
Financial By-law
 Non

Compliance
Voidable decisions maybe overturned by
vote by Majority of Council
Financial Administration By-law
 Amendment

Repeal
By rules required for a By-law not by an OIC
Financial Administration By-law
 Pros





Part of Good Governance
Structured Approach To Financial
Responsibility
Designates Responsibility and
Accountability
Set Specific Limits
Outlines Council’s responsibility to Financial
Affairs of the LMG
Financial Administration By-law
 Cons
 Auditor
will deem LTO arrears
uncollectible as write off
 Put LMG into 3rd Party unless another
solution presented
 No new LTO program could be financed
Implementation Plan
 Technical
Approval by FNMSB and Lawyer
 Post on LMG Web Site
 Approval post review by Council
 Minister Approval
 Letter to Community
 Individual Letter to LTO and Renters
 Meet with


Directors and Staff
Community Meeting
 Target
April 1 2013 commence
enforcement