The FMB has two primary functions. First, it certifies financial management systems, practices and standards of First Nations that have chosen to borrow against their property tax revenues. Second, for all other First Nations, it provides, on request, services relating to financial management, reporting and standards development.
"The First Nations Financial Management Board will support First Nation communities in their efforts to take control of their financial future by facilitating their participation in the Canadian economy and fostering business-friendly environments," said Chuck Strahl, Minister of Indian Affairs and Northern Development and Federal Interlocutor for Métis and non-Status Indians. “On behalf of Our Government, I wish to congratulate Mr. Jha on his board appointment.”
This appointment follows the May 2, 2007 appointment of five board members and the October 31, 2006 appointment of Harold Calla as Chairperson of the FMB.
“Mr. Jha’s background provides added experience to promote economic development in Aboriginal communities,” said Harold Calla, FMB Chairperson. “We welcome him, and look forward to his insight on how we can develop entrepreneurship in First Nations communities.”
The First Nations Financial Management Board is one of the four institutions created through the First Nations Fiscal and Statistical Management Act which came into force on April 1, 2006. Led by First Nations, the Act established an institutional framework to provide First Nation governments with the practical tools available to other levels of government for modern fiscal and statistical management. The institutions will enable First Nations the opportunity to participate more actively in the Canadian economy.
For further information please contact:
Minister's Office
Philippe Mailhot
Press Secretary
Office of the Honourable Chuck Strahl
819-997-0002
Media Relations
Indian and Northern Affairs Canada
819-953-1160
First Nations Financial Management Board: (604) 925-6665
Source: http://www.ainc-inac.gc.ca/nr/prs/s-d2007/2-2958-eng.asp