Kawacatoose First Nation has become the first Aboriginal community to opt into the moneys management portion of the First Nations Oil and Gas and Moneys Management Act (FNOGMMA) and take full control over the management of its land and resource moneys. The provisions of the Act will enable the Kawacatoose First Nation to act more quickly on investment, economic and employment opportunities. By opting into FNOGMMA, the Indian Act requirement of seeking Ministerial approval to expend these monies no longer applies. The community’s financial code will now guide the First Nation’s Council on how their moneys are spent. This will increase the level of accountability of the First Nation’s leadership and put these moneys more quickly into the hands and control of the community.
Posted on: Fri, 10 Oct 2014 04:37:54 +0000
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