Fisher River Cree Nation recently gain the latest Certification from the First Nations Financial Management Board, Financial Management System Certification. Fisher River Cree Nation is the 1st First Nation in Manitoba to obtain this Certification, there is only five First Nations in Canada whom currently have the FMSCertification. To date Fisher River had received Financial Performance Certification, this certification gained Fisher River access to be a borrowing member of First Nations Finance Authority; which has allowed Fisher River to access low-interest loans for infrastructure and community projects like the Community Centre, Bay River Inn & Suites, New High School, and new ICFS Office Complex.
Before Fisher River could get certification, the Cree Nation had to adopt and follow a Financial Administration Law.
To celebrate this accomplishment, we welcome all community members for a Luncheon and Ceremony on Thursday, November 30, 2017 at 12:00pm at the Fisher River Community Hall.
WHAT IS THE FINANCIAL MANAGEMENT SYSTEM CERTIFICATION
A Financial Management System (FMS) Certificate proves to your Council, community members, lenders, business partners, and others that you use the goodgovernance and finance practices as outlined in your Financial Administration Law (FAL), “living by your FAL”.
It also allows borrowing members to remain in good standing with the First Nations Finance Authority (FNFA). A borrowing member is a First Nation that has been approved by the FNFA to borrow from it.
WHO CAN GET CERTIFIED
Financial Management System Certification is open to First Nations that have:
- enacted and received Financial Management Board approval of their Financial Administration Law (FAL).
- successfully brought their FAL to life in their First Nation and can demonstrate that the FAL is being followed.
WHY GET CERTIFIED
The FMS Certificate proves that your First Nation is living by its FAL. It shows your First Nation has put in place good finance practices for the long-term. Getting certified lets you:
- show community members, lenders, business partners, and others that your First Nation follows good governance and finance practices.
- stay in good standing with the FNFA, which provides low-cost loans to First Nations in the same way as other governments in Canada.