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Weekly Community Notice
Click here to download the weekly Community Notice. POSTED: January 27, 2012 TFN Catering RFP for Spring LA Session 2012 (posted January 31, 2012) TFN VACCINE NOTICE (posted January 27, 2012) TFN LA Session Calendar for 2012 (posted January 13, 2012) CBC feature: First Nations - mapping the future TFN Neighbourhood Plan, March 2011 please note: this is a 10mb file and may take some time to load. (posted Aug. 15, 2011) TFN Preferred Land Use Concept POSTED: April 26, 2011 Click here to view the TFN Land Use Plan News Release , IC-PDG Development POSTED: April 15, 2011 TFN members backgrounder, IC-PDG Development POSTED: April 15, 2011 Public Notice: License of Occupation POSTED: October 7, 2010 Tsawwassen Drive Heavy Truck Traffic Closure POSTED: April 30, 2010
Chief Kim Baird's Historic Speech to the BC Legislature
Making History - Tsawwassen First Nation First Urban Treaty in Modern-Day British Columbia

Making History – Tsawwassen First Nation Treaty signed!

FINANCIAL ADMINISTRATION ACT

Act

FINANCIAL ADMINISTRATION ACT (PDF 460KB)

Regulation

REPEALED Intereston Overdue Accounts Payable (posted April 29, 2011)
Social Housing Regulation (posted April 21, 2010)
Interest on Overdue Accounts Receivable Regulation
(posted Dec. 13, 2011)
Other Trust Fund Regulation (posted Oct. 15, 2009)
Special Accounts Regulation (posted Oct. 15, 2009)

Summary:

Note: The summary below is not a legal document. It should not be relied upon for accuracy and does not in any way replace, supercede, or supplement the Law.

The Financial Administration Act establishes rules and procedures to manage and safeguard the money and all other assets of the Tsawwassen First Nation. This is a comprehensive Act crafted to comply with strict standards set by the First Nations Financial Management Board. In order for TFN to become a borrowing authority under the First Nations Finance Authority, this Act must comply with those standards.

All accounts will have to be kept in a good order in keeping with rules for governments generally. Independent annual audits will be required and will have to be publicly available.

A special committee of Council will be set up to oversee financial management and control. Members will have to have the knowledge necessary to understand accounting and money management. All accounts will be managed under one general government fund so that money can only be spent in a transparent way under the controls of a centralized system. Strict rules are required for making decisions to spend money and for authorizing and making payments of TFN money.

Rules will be established for trust funds and other special accounts provided in the Treaty. The Capital Transfers will be held in a Settlement Trust Fund that can only be used for the general benefit of TFN Members.

All money spent must be approved in an annual budget and payments authorized by Legislative votes. Controls are placed on investments of TFN money to keep it from being put at risk. A Director of Finance will be responsible for the overall supervision of financial management.

The Act will guarantee that Members’ interests in assets and money are protected. Tight controls will be required and reports provided regularly.