Sliammon Recieves First Nations Financial Management Board Certification

Original Source
First Nations Financial Management Board

Sliammon reaches long pursued goal of certification with sights set on community project
WEST VANCOUVER, BC (March 21, 2014) – The First Nations Financial Management Board (FNFMB) congratulates Sliammon on their financial performance certification by the FNFMB. Sliammon is now eligible to become a borrowing member of the First Nations Finance Authority and access low-cost debt to finance economic development opportunities for their community.

While each First Nation that works through certification is unique, the end goal remains the same – strengthened financial management practices and access to financing readily available to other governments in Canada. For Sliammon, the road to certification was not an overnight process. In fact, the certification journey has been an involved one for leadership and administration that began soon after the First Nations Fiscal Management Act (FMA) came into force and has spanned many years. The perseverance, dedication and commitment showcased in attaining certification is a true testament to the leadership and determination of Sliammon.

“We are extremely excited that we will now be able to move forward with much needed infrastructure development within our community. FNFMB Certification has presented our Nation with an option that it has never had before – the ability to access long-term loans at rates below prime. We have had plans for a new administration building for years. We can now put our plans into action,” said Sliammon Chief Clint Williams.

“Sliammon leadership has demonstrated a real commitment to strengthening their financial management practices and this is evident in their recent financial performance certification,” said FNFMB Executive Chair, Harold Calla. “Their commitment has provided them with the opportunity to now move forward with economic development projects.”

The FMA is federal legislation designed to provide access to affordable financing for First Nations governments who choose to opt in to the legislation.

The FNFMB is a non-profit institution that assists First Nations choosing to go through the certification process. FNFMB certifies financial performance and financial management systems of First Nations based on FNFMB standards, which are consistent with internationally recognized frameworks for internal control.

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For further information:

Harold Calla
Executive Chair
First Nations Financial Management Board
Telephone: (604) 925-6665
Cell: (604) 313-2699

About SDC

Incorporated in 1995, Sliammon Development Corporation was created to engage in and oversee economic development for the Tla’amin Nation.

SDC has over 18 years of experience in conducting business, particularly in land development, forestry, aquaculture, retail, hospitality and tourism.