«Start: 9:01 am Finish: 4:15 pm Chief Councillor Bryan LaForme Councillor Larry Sault Councillor/Chair R. Stacey Laforme Councillor Arland LaForme ...»
MISSISSAUGAS OF THE NEW CREDIT FIRST NATION
Executive Finance Council Meeting
Monday, October 26, 2015
Start: 9:01 am Finish: 4:15 pm
Chief Councillor Bryan LaForme
Councillor Larry Sault
Councillor/Chair R. Stacey Laforme
Councillor Arland LaForme Councillor Cecil Sault Councillor Clynten King (Excused) Councillor Erma Ferrell Councillor Sharon Bonham Executive Director Cynthia Jamieson Recording Officer Charlotte Smith Finance Director Lilia Moos DSED Kevin Wassegijig DOCA Mark LaForme Peace Hills Trust Georgina Villeneuve, Jeff Frketich Mackie Research Capital Corporation Joseph Debus, Scott Barker Legal Counsel Kim Fullerton Band Member George (Clyde) King AGENDA ITEM NO. 1 – OPEN MEETING Chair/Councillor R. Stacey Laforme opened the meeting at 9:01 am. Chief Bryan LaForme will be a few minutes late as he is attending the CANDO Conference. Councillor Clynten King is away on other Council business. Band Member George (Clyde) King in at 9:03 am.
October 26, 2015 Executive Finance Council – Public Minutes 1
AGENDA ITEM NO. 2 – REVIEW AND ACCEPT AGENDAMOTION NO. 1
MOVED BY LARRY SAULT SECONDED BY ERMA FERRELLThat the MNCFN Executive Finance Council accepts the Agenda with the following deletion and
Agenda Item No. 6 – Deferred to Infrastructure & Development Council on November 2, • 2015;
Agenda Item No. 14a) – Proxy for Councillor Clynten King;
• Agenda Item No. 14b) – Climate Summit Follow-Up;
• Agenda Item No. 14c) – Document for Council – Question from Councillor Erma Ferrell;
• Agenda Item No. 14d) – Chief & Council Orientation;
• Agenda Item No. 18a) – In-Camera Item - Letter From Band Member;
• Agenda Item No. 18b) – FYI – Draft Agenda for Hydro One Meeting on November 16, • 2015;
Agenda Item No. 18c) – In-Camera Item - Outstanding Letter/Response to Band • Member (EF);
Agenda Item No. 18d) – Empire Communities Statement of Support (Communications • Director).
AGENDA ITEM NO. 3 – REVIEW & ACCEPT THE (PUBLIC) MINUTES OF EXECUTIVEFINANCE COUNCIL – MONDAY, SEPTEMBER 28, 2015 (PLEASE SEE AGENDA ITEM NO.
7 ON PAGES 3 & 4. DOES COUNCIL WANT TO INCLUDE THIS ITEM IN THE PUBLICMINUTES?) MOTION NO. 2
MOVED BY ERMA FERRELL SECONDED BY ARLAND LAFORMEThat the MNCFN Executive Finance Council accepts the Executive Finance Council (Public) Minutes of Monday, September 28, 2015 with the exception of Agenda Item No. 7 on Pages 3 & 4 which will be moved to the In-Camera Minutes.
AGENDA ITEM NO. 4 – MATTERS ARISING FROM COUNCIL MINUTESThere were no Matters Arising from the Minutes.
AGENDA ITEM NO. 5 – POW WOW WRAP UP REPORT 2014 DIRECTION NO. 1 That the MNCFN Executive Finance Council gives direction to the Pow Wow Committee to apply to other funding sources ie. Peace Hills Trust including Chief and Council for dollars for the next Pow Wow.
October 26, 2015 Executive Finance Council – Public Minutes 2 MOTION NO. 3
MOVED BY ERMA FERRELL SECONDED BY ARLAND LAFORMEThat the MNCFN Executive Finance Council accepts the final report on the 2014 New Credit Cultural Committee 28th Annual Three Fires Homecoming Pow Wow and Traditional Gathering as presented, and to consider the $54,300.00 donation provided by the MNCFN as reconciled under the Events Funding Assistance Policy.
Carried Finance Director in at 9:20 am.
Chief Bryan LaForme in at 9:25 am.
AGENDA ITEM NO. 6 – EMPLOYMENT POLICY & PROCEDURES REVISIONS (HRMANAGER) This item was deferred to the next Infrastructure & Development Council Meeting on Monday, November 2, 2015.
Council moved to Agenda Item No. 10 while waiting for Peace Hills Trust and Mackie Research Capital Corporation.
AGENDA ITEM NO. 10 – CASH FLOW & FINANCIAL STATEMENTSFinance Director informed that the Financial Statements are all up to date. Councillor questioned if we offer the Financial Statements to the Community how will they understand them? Executive Director stated that the Community could be provided with a summary similar to the one she prepared earlier.
Councillor reiterated that the various departments should be applying for outside funding dollars instead of always using the Casino Rama dollars.
It was pointed out that the new Prime Minister Justin Trudeau wants to work with First Nations.
It is also noted that the White Paper in 1969 not be forgotten.
Councillor questioned the Executive Director about an update on the budget of LSK. Executive Director answered that she had met with the Principal and Education Director. The Principal is very aware of many things and that she knows she is responsible for the budget. Education Director is responsible for oversight. There is a supply budget of $42,000.00 and each teacher has their own budget.
Finance Director pointed out that the Enterprise Fund is over budget. Executive director advised that the DSED is in the red because his budget has not been actioned yet. She will follow up with DSED.
Councillor stated that he would like to see line by line items regarding the bingo dollars.
Finance Director stated that no dollars have been taken out of that account.
October 26, 2015 Executive Finance Council – Public Minutes 3 Councillor questioned the Finance Director about how she communicates with the DSED regarding 839 Co. Finance Director answered that she was away sick. Councillor then questioned if these kinds of things (dollars and budgets) are discussed at the OMT meetings.
Executive Director pointed out that the OMT meetings are more for general issues and initiatives. But normally, the Finance Director follows up with the DSED and then she informs the Executive Director. Executive Director also advised that when money is transferred to 839 Co. a Council Motion is required.
MOTION NO. 4
MOVED BY LARRY SAULT SECONDED BY ERMA FERRELLThat the MNCFN Executive Finance Council accepts the Financial Statements and Cash Flow from the Finance Director.
Carried Council moved back to Agenda Item No. 7 as the guests have arrived at 10:25 am.
AGENDA ITEM NO. 7 – GUESTS – PEACE HILLS TRUST TO PRESENT 3RD QUARTERLY
REPORT – TORONTO PURCHASE TRUSTGeorgina Villeneuve from Peace Hills Trust (PHT) was welcomed by the Chair. She highlighted certain areas of her Third Quarterly Report. At year end and in September of each year PHT always inquires if New Credit needs any extra dollars. The income this year is greater than 4% which works out to be $6.2 Million at the end of the year.
Councillor reiterated that changes have been made to keep the capital gains going higher. He questioned whether New Credit should be investing in gold bullion.
Regarding the shift with the new government, Georgina stated that the Liberal government has always been wanting to help First Nations. She believes the relationship will improve. She informed that the markets are up. Unrealized gains are stocks that have not been sold.
Councillor questioned how much was invested with Dixon Mitchell. Georgina will find out.
Part of PHT’s audit is checking current financial statements.
Councillor suggested having a one day session to inform the Community about medical marijuana as he believes the Community and Council need to have a better understanding.
Chief noted that the interest in the US is huge for First Nations for medical marijuana, as well as a huge interest in hemp. When the Chief and Councillor Larry Sault were in Colorado for the Medical Marijuana Conference, there were people who gave presentations on depression, epilepsy etc. It was suggested that these people could come and talk with the New Credit Community. However, New Credit would have to exercise caution about who they bring to speak to the Community.
There are 1,300 medical marijuana licenses in Canada. LCBO is a federal crown corporation and one of the largest income generators in the world and medical marijuana is comparable to this.
October 26, 2015 Executive Finance Council – Public Minutes 4 Councillor advised that there is a need to stress to the Community that when MNCFN invests it is a good thing and it is being done for the sustainability of the First Nation. Georgina stated that this is called “socially responsible investing”. Jeff Frketich strongly suggested that the days of rape and pillage of communities is over, and any company that eliminates bad practices will be the company that makes money. Councillor suggested highlighting something to this effect at the Community Meeting. It was agreed that Georgina would do this by adding two or three more slides to her presentation on socially responsible investing and corporate responsible investing.
Georgina advised that PHT is looking at hiring a firm that is sensitive to the issues of First Nations. If New Credit wants a specific issue lobbied SHARE, (Shareholder Association for Research & Education which is based in Vancouver, BC) can do this through PHT.
Councillor would like PHT to keep an eye on Dixon Mitchell. Georgina stated that Jeff’s job requires him to monitor all the Investment Managers on a monthly basis, and yes, they will keep an eye on Dixon Mitchell.
MOTION NO. 5
MOVED BY ERMA FERRELL SECONDED BY ARLAND LAFORMEThat the MNCFN Executive Finance Council accepts the 3RD Quarterly Report of Peace Hills Trust regarding the Purchase Trust.
Carried AGENDA ITEM NO. 7a) – PEACE HILLS TRUST - NOVEMBER 14, 2015 COMMUNITY
MEETING PRESENTATIONDIRECTION NO. 2 That the MNCFN Executive Finance Council gives direction to Georgina Villeneuve of Peace Hills Trust to add two more slides to her presentation regarding socially responsible investing which is being presented at the next Toronto Purchase Trust Community Meeting on November 14, 2015 at the New Credit Community Centre.
AGENDA ITEM NO. 8 – GUESTS – MACKIE RESEARCH CAPITAL CORPORATION
(FINANCIAL ADVISORS) TO PRESENT 3RD QUARTERLY PERFORMANCE REPORT TORONTO PURCHASE TRUSTGuests Joseph Debus and Scott Barker were welcomed and Scott spoke first and informed that the markets are very volatile right now. He also advised that Mawer has performed very well.
Joseph pointed to Tab 4 of their report and he informed that Paymobile is now going public and goal is to start trading at the end of the year. Shares will start at $1.00 Canadian, but would like to see $3.00 or $4.00 US. The Minute Book is completed.
Regarding Empire Global, Michael Kraft is in the process of buying the companies who will not get a license next year.
Regarding WeedMD the liberal government is the best thing for First Nations. Edibles and oil will now become big business.
October 26, 2015 Executive Finance Council – Public Minutes 5 Executive Director informed that the Third Quarter Report from Mackie is required as this report will go to the Community Members who would like a copy before the TP Trust Community Meeting on November 14th. Joseph advised that New Credit will have the report within two days.
Guests from Peace Hills Trust and Mackie were thanked for their presentation and left at 11:55 am.
MOTION NO. 6
MOVED BY CECIL SAULT SECONDED BY ARLAND LAFORMEThat the MNCFN Executive Finance Council accepts the 3rd Quarterly Performance Report from Mackie Research Capital Corporation (Financial Advisors) regarding the Toronto Purchase Trust.
AGENDA ITEM NO. 9 – TORONTO PURCHSE TRUST – COMMUNITY MEETING – DRAFT
AGENDACouncillor reiterated that the Auditor (Millards, Rouse, Rosebrugh) is under review. It was noted that the Executive Director will speak with Cameron Johnston and make certain Mr. Johnston does not stray from his presentation of the Annual Audit.
Councillor stated that New Credit needs to continually hold the government accountable for the completion of the water line.
Executive Director stated that there is a dire need to negotiate for infrastructure dollars.
Office Clerk will contact the Drum Group.
Councillor suggested that a Band Member could facilitate the meeting.
Finance Director is preparing her report for this meeting and the report will be put on the Infrastructure & Development Council Meeting Agenda for review and approval.
Joseph Debus questioned if Sentry Investments (which is mutual funds) should be presented and the answer was yes.
It was agreed that the Finance Director would meet with Mackie so that both she and Mackie will have the same information that is being presented to the Community.
DIRECTION NO. 3 That the MNCFN Executive Finance Council gives direction to the Finance Director to meet with Mackie Research Capital Corporation in order for both to have the same information that is being presented to the Community at the Toronto Purchase Trust Community Meeting on November 14, 2015 at the New Credit Community Centre.
Mark LaForme in at 11:15 am.
AGENDA ITEM NO. 9a) – GUEST - KIM FULLERTON – PRESENTATION ON ABORIGINAL
TITLE TO WATER CLAIMKim highlighted parts of his letter to Chief and Council dated October 21, 2015. He informed that the Water Claim is moving forward. Whenever a First Nation asserts title, that First Nation has to be consulted. Joan Holmes & Associates are noted for having all their research clarified. Kim questioned Council if they (Council) wants to proceed now.
If so, there will be no dollars to get this claim done. This means that New Credit would have to bear all the costs for preparing a Legal Opinion that Kim will prepare. It is Kim’s recommendation to proceed with the Water Claim provided that MNCFN is going to fund this.
Both governments (Ontario & Canada) must consult with MNCFN.