Show Me The Money and governance because I'm stupid Flashcards
Where do nation governments get their money?
Taxation- not all have this
User fees
Transfer payments- contribution from government used for specific reasons like housing, education. Etc
What are sources of capital for FN?
Non business’s- family friends, banks, reinvested profits
Aboriginal business’s - INAC dollars for administrative programs, contribution agreements
Discretionary dollars - SIGA dollars, governments, TLE,
What are SIGA dollars?
FSIN has create SIGA to operate the casinos on behalf of the fn. it was created because of a jurisdictional dispute
What happened in whitebear and what was created because of it?
In 1993 the fn brought in slot machines and equipment to open their own casino, the RCMP shut them down and went through the courts(still not resolved).
In 1995 the gaming act was created and in 2002 a 25 year agreement was signed. This is SIGA.
How does SIGA work?
SIGA owns the casinos, whitecap will gain the rent on the land where the casino is. Fn can also put in the gaming tax like in a regular casino and gain profit that way too
How does SIGA allocate its funds?
50% to the FN trust
25% to provincial governments
25% to the community developments corporations
How does SGC allocate its funds?
50% to the province
25% to the First Nations trust
25% to community development
What is the First Nations trust?
The beneficiaries are every fn community and some First Nation institutions.
The allocation is based on population and you have to use the money for economic development, social development, justice, health, education, recreation and culture
What are community development funds?
Each casino on fn land has one, it is used to invest in major investment opportunity that is lacking in communities, like senior development, recreation and health facilities, etc.
What is AANDC created for?
Strengthen aboriginal entrepreneurship, develop aboriginal human capital, enhance the value of aboriginal assets, forging new and effective partnership
What are the aboriginal financial institutions?
Clarence campeau fund, Indian equity foundation, sask métis economic development corporation, community futures groups, traditional banks
What is the Clarence campeau fund?
Established my the Metis society to ensure Metis entrepreneurs have business skills, there are several different programs involved, like loan equity programs, energy and resource program, aftercare program, community development program etc
What is the Saskatchewan Indian equity foundation?
Owned by the 75 sask First Nations affiliated with FSIN. Used for loans, business services and rates between 8.5 and 12.5%
What is section 89?
The real and personal property of an Indian or a band stimulated on the reserve is not subject to charge, pledge, mortgage, attachment, love you, seizure, distress or execution in favour of or at the instance of any person other than Indian or band.
What are some issues with section 89?
Banks won’t loan to fn because they can’t take away property as long as it is on fn land.
Banks now have special lending for fn people.
There is FNLMA to get around this too