Enoch Cree Nation: 1st First Nation in Alberta to receive Financial Management System Certification!

by pmnationtalk on May 1, 2020

 

Enoch Cree Nation: 1st First Nation in Alberta to receive Financial Management System Certification!

On March 27, 2020, the Enoch Cree Nation (ECN) has become the 1st First Nation in Alberta to receive 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 Enoch Cree Nation:

This Cree Nation is located in central Alberta, Treaty No.6 territory, 13 km south west of Edmonton. The Cree name for Enoch is Maskêkosihk (pronounced Muss-Kay-Go-Sik) and translates as ‘people of the land of medicine’.

The ECN has a rich, long and proud history of economic development starting in the mid 1960’s with a recreational Park including an outdoor pool, restaurant, picnic area, rodeo grounds, campgrounds etc. Over the years, the ECN also established a gas bar, a farming company, a Golf Course and proceeded to several land acquisitions. Most recently, the River Cree Development Corporation was created resulting in a fully integrated commercial taxation arm, a holding company, a commercial Property Management Company and the successful River Cree Resort & Casino.

With such experience, the ECN understood the importance of strong finance and governance practices in supporting community development and they had heard of the benefits of getting FMS certification from the FMB.

On their journey towards FMS Certification, the Nation developed a Financial Administration Law (FAL) and also received a Financial Performance Certificate that allowed the Nation 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.

“As an Alberta First Nation, we are proud to achieve this unprecedented financial standard which will ensure a new level of confidence for our partners in business, government and most importantly our people. Certification tells our people and partners their investment is safe here in Enoch” – Chief William (Billy) Morin

The FMB acknowledges the strong leadership of the ECN Chief and Council and the dedication of their staff that were key into achieving FMS Certification. By becoming the 1st Nation in Alberta to obtain their FMS Certification, ENC demonstrates how Treaty Nations can benefit from working with the FMB to strengthen their Financial Management System without diminishing their Treaty rights.

The FMB would like to share a heartfelt acknowledgment to the ECN on this milestone achievement!

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