Finance Report 2015-2016

Contents

Message from the Director of Finance...... 04

Finance Department

Function...... 05

Objectives...... 06

Meet our Team...... 07

Finance Information...... 13

MFNERC Financial Statements...... 14

Independent Auditors’ Report...... 15

Statement of Financial Position...... 16

Statement of Operations...... 17

Statement of Changes in Net Assets...... 18

Statement of Cash Flows...... 19

Notes to the Financial Statements...... 20

Schedule 1 - Schedule of Revenue and Expenses - Administration...... 27

Schedule 2 - Schedule of Revenue and Expenses - Roseau River Anishinabe First Nation Ginew School...... 28 message from the director of finance

On behalf of the MFNERC Board of Directors, we welcome Statements, which represents the highest standard for a you to preview our 2015-16 Financial Audit. Together we financial audit. value education. A positive educational process is our first priority. We are constantly looking for ways to work more The MFNERC received $4,654,331 from INAC under New efficiently, at the same time ensuring a quality education. Paths Program as well as $1,892,000 for Special Education and $1,359,850 for other Band Employee Benefits and This Audit report reflects the other. INAC also provided $1,414,176 for Education Education Resource Centre’s (MFNERC) on-going Partnership Program and $13,959,551 for the First Nation commitment to improving both its performance and its Student Success Program and $2,625,799 for the Roseau financial and fiscal accountability. River Ginew School. In total INAC provided $25,905,707 to MFNERC which represented 95% of overall funding. MNP LLP Chartered Accountants conducted the audit of the Manitoba First Nations Education Resource Centres’ Overall, Finance ensured that all requirements of a Financial Statements for the fiscal year ending March 31, project’s Contribution Agreement were being compiled 2016. Total revenue was $26,329,631 and total expenses with authorized expenditures as well as ensured that the were $25,862,376. We are pleased to report positive deliverables were being adhered to. operating results for the MFNERC for fiscal year 2015- 2016. The MFNERC’s success in 2015-2016 demonstrated the strength and importance of sound management execution and the value of financial discipline.

The management letter from MNP LLP, MFNERC’s auditing George Merasty firm, made no significant suggestions for operational B.Comm (Hons.), CA, CPA, CAFM or procedural changes and they issued an “unqualified” Director of Finance opinion on the March 31, 2016 MFNERC Financial

04 | Finance Report 2015-2016 finance department - functions and objectives

Function Finance manages the implementation of the financial plans and policies of the Manitoba First Nations Education Resource Centre. The financial strategic objectives of the MFNERC is to manage the funds it has been entrusted with. Finance carries out this objective through cost effective management of the MFNERC’s internal financial operations, efficient negotiations, monitoring of funded projects, and strategic management of the organization’s investments.

Finance is responsible for three main areas: 1. Project funding • Financial review and monitoring of all budgets for all projects administered by MFNERC 2. Organizational finances and administration • General Expense (Salaries, insurance, office supplies, training etc…) • Investments • Financial Reporting • Financial advice to the Board of Directors 3. Monitoring • Processing Cheque Requisitions submitted by departmental coordinators • Assessment of budget to actual expenditures on a monthly basis • Analysis of project performance to ensure deliverables are adhered to.

Finance Report 2015-2016 | 05 finance department - functions and objectives

OBJECTIVE To fulfill all financial functions and execute its responsibilities, the Finance department has identified the following objectives and strategies: Finance Department - Functions and Objectives 1. Ensure the integrity, reliability and transparency of all the financial operations of the MFNERC STRATEGY: To establish budgeting control and reporting systems, applied both to the internal and financial operations of all funded projects. Finance achieves the following objectives: • Assisting in the development of policies and budgets, and providing the necessary information and financial analysis required. • Control and monitor the operational budget that has been approved by the Board of Directors. • Assisting Management in discharging its responsibilities for Financial Reporting. • Implementing and maintaining the accounting system (Sage 300). • Ensuring the Reporting and Auditing procedures are carried out. • Administrating the investments on behalf of the MFNERC. The Financial statements of the MFNERC are prepared in accordance with generally accepted accounting principles, including the accounting recommendations for not-for-profit organizations in .

2. Ensuring that funding expenditures are in accordance with the terms and conditions of all Contribution Agreements. STRATEGY: to conduct a financial assessment of the progress of funded projects In conjunction with departmental coordinators, ensuring project expenditures are measured against project work- plans, goals and objectives.

3. To ensure the integrity and reliability of data STRATEGY: Implementing and maintaining the accounting system (Sage 300) EXPECTED RESULTS: • Ensuring that all requirements of a project’s Contribution Agreement are being compiled with authorized expenditures • Refining the overall project as necessary to compile with the funding agreements • Reducing a risk of unauthorized expenditures • Ensuring that adequate resources continue to be available for the continuation of planned projects.

06 | Finance Report 2015-2016 meet our team

Born and raised on the Flying Dust First Nation in northern Saskatchewan, George Merasty went on to become the Director of Finance for the Manitoba First Nations Education Resource Centre as of 2007. In the past, he also served as the Director of Finance for the Assembly of Manitoba Chiefs from 1997 to 2007.

After graduating from the University of Manitoba with a Bachelor of Commerce Honours degree with a major in Accounting, he obtained his Chartered Accountant designation in 2000.

GEORGE MERASTY George has been married for 21 years to his wife, Marla, and they have two teenage B.Comm. (Hons.), CA, CPA, CAFM Director of Finance boys—Kaeden and Brenden.

Sarah Cook is the Assistant Director of Finance at the Manitoba First Nations Education Resource Centre. She graduated from the University of Manitoba with a Bachelor of Commerce Honours degree with majors in Accounting and Aboriginal Business Studies. In 2011, she obtained her Chartered Accountant designation. As a chartered accountant, Sarah has worked with a variety of charitable, non-profit and First Nation organizations to meet their reporting requirements. In the past, she has served as a Staff Accountant and Audit Manager at BDO Canada LLP and as a Finance Officer at Indigenous Management Group.

sarah cook Sarah is a proud member of the Misipawistik Nation. She enjoys giving back to her B.Comm. (Hons.), CA, CPA Assistant Director of Finance community and has been member of United Way Winnipeg’s Council for Indigenous Relations since 2015.

Finance Report 2015-2016 | 07 meet our team

Bryanna Kirkness (McKay) has been employed with MFNERC since 2002, working as an administrative secretary and in the Finance Department as Finance Assistant for the past 13 years.

Bryanna graduated from Success Business College in 2002 and received a Business Administration diploma (with honours). Born in Grandview and raised in Thompson, Manitoba, she has lived in Winnipeg since 1999 and treaty to Tootinaowaziibeeng Treaty Reserve.

bryanna kirkness Bryanna recently married her long-time partner Leonard in late 2016, and together Accounts Payable - Travel they have a blended family of four children and five grandchildren.

Before becoming a Finance Assistant with the MFNERC, Shannon Laforte worked in the finance department of the Aboriginal Peoples Television Network and the Assembly of Manitoba Chiefs.

Born and raised in Winnipeg, Shannon graduated from St. John’s High School and continued her studies at Winnipeg Technical College along with various medical and accounting courses at Red River College.

Shannon is a mother to two beautiful children—Riley and Echo. shannon laforte POs and Contracts Administration

08 | Finance Report 2015-2016 meet our team

Heather Sinclair has worked at the Manitoba First Nation Education Resource Centre since 2004 as a Finance Assistant – Payroll. Previous to her time with the MFNERC, she was the Finance Manager of Peguis First Nations from 1992 – 1994 and the Finance Clerk of Island Lake Tribal Council from 1994 – 1999. She attended Yellowquill College in 2002, graduating from the Certified Aboriginal Financial Manager program.

Heather is a proud mother to a daughter who is graduating Grade 12 with honours and who will also be attending The University of Winnipeg in the fall.

heather sinclair Payroll

Terrence Shannacappo, an Ojibway member of the Rolling River First Nation, has worked at the Manitoba First Nations Education Resource Centre since April of 2013. From 2000 to 2013, he was employed as a Finance Assistant with the Assembly of Manitoba Chiefs. He also spent time in various accounting positions with the Manitoba Indian Education Association, West Region Tribal Council, Southeast Resource Development, Gabriel Dumont Institute, and Shoboogama Tribal Council.

Terrence graduated from Red River College with a Business Administration diploma, and he is currently enrolled at Thompson Rivers University in his fourth year of the terrence shannacappo Bachelor of Commerce distant degree program, majoring in Accounting. Benefits Administration

He enjoys cycling, going for long walks, traveling, and his tae kwon do classes. He is only one more belt away from gaining his black belt.

Finance Report 2015-2016 | 09 meet our team

Before joining the Manitoba First Nations Education Resource Centre, Rhonda Hardisty worked at Southeast Resource Development Council for 12 years as the financial administrator and with the Southern Chiefs Organization for two years as finance assistant and assistant manager.

Rhonda grew up in Manigotagan and is a member of the Hollow Water First Nation. She moved to Winnipeg to attend Red River College where she graduated from the Business Administration program in 1992. Rhonda is a proud grandmother to four grandchildren, two of whom she cares for as a full-time grandmother. rhonda hardisty Accounts Payable - Suppliers

Curtis Carriere has worked in Finance at Manitoba First Nations Education Resource Centre since 2005, where he has occupied a variety of roles within the department— Accounts Payable, Receivable, Bank Reconciliations, and the General Ledger. He is currently working within the Manitoba First Nation School System.

Curtis was born in raised in Winnipeg and spent many summer and winter months in and around Cranberry Portage, Manitoba. The nearby First Nation of is where he has treaty status. He went on to graduate from the University of Manitoba with a Bachelor of Arts degree with a major in Economics and minor curtis carriere in Business. Finance Assistant

10 | Finance Report 2015-2016 meet our team

Donna McCorrister has been working in the Finance Department at the Manitoba First Nations Education Resource Centre since September 2016. Despite being one of the newest members at the MFNERC, she has worked in various organizations and businesses within the Peguis First Nation over the years. She graduated from Red River College with a Business Accounting and Management Studies certificate, and she is currently working toward her AFOA designation.

Donna originates from Brokenhead Ojibway Nation but transferred to Peguis First Nation at a young age. She and her husband Marshall have three adult children— Donna mccorrister Matthew, Brittany, and Ashton—and one younger son, Presley, who is 12 years old. Accounts Receivable Family is important to Donna, so she always makes time to have a “game night” whenever possible.

Glen Stevenson has been the Finance Assistant at the Manitoba First Nations Education Resource Centre for more than a year. He has served as a Junior Accounting Technician for the Aboriginal Peoples Television Network from 2005 to 2010. He went on to be the Financial Analyst for Tribal Wi-Chi-Way-Win Capital Corp/Aski Financial from 2010 to 2015, and for a short stint, he was also an Accounting Assistant for Manitobah Mukluks in 2015.

Glen was born in Winnipeg but raised on the Peguis First Nation. From 1996 to 2004, he has worked in a number of trades, including housing and manufacturing within the Glen Stevenson City of Winnipeg. However, he returned to school in the fall of 2004 and received an Finance Assistant accounting diploma with honours from the Anokiiwin Training Institute in 2005.

He has been married for four years to his wife, Melissa, and together they have one son, Jacob.

Finance Report 2015-2016 | 11 meet our team

Melissa Soldier has worked at the Manitoba First Nations Education Resource Centre as a travel agent for the past year. She spent the previous fifteen years at Clement Travel, a First Nations owned and operated travel agency.

Melissa grew up on Swan Lake First Nation and graduated from Robertson College in 1999 from the Travel Counsellor course. She is one of the first native travel agents in Manitoba.

melissa soldier Finance Assistant - Travel

Nichole Brisebois is currently a Finance Assistant in Payroll at the Manitoba First Nations Education Resource Centre. Her passion for a career in finance led her to the Canadian Payroll Association. In 2009, she completed her Payroll Compliance Practitioner certification and has been working in the industry since.

Nichole is mother to Lucik Brisebois, her son of four years, who is just beginning his own education as he attends Nursery school for the first time.

nichole brisebois Finance Assistant - Payroll

12 | Finance Report 2015-2016 mfnerc finance information

MFNERC FINANCE OFFICE Swan Lake First Nation 120-200 Alpine Way Headingly, MB R4H 0B7 Phone: 1(204) 594-4267 Fax: 1(204) 831-1301

MFNERC FINANCE TEAM:

• George Merasty B. Comm. (Hons.), CA, CPA, CAFM Director of Finance • Sarah Cook, B. Comm. (Hons.), CA, CPA Assistant Director of Finance • Bryanna Kirkness, Accounts Payable - Travel • Shannon LaForte, POs and Contracts Administration • Heather Sinclair, Payroll • Terrence Shannacappo, Benefits Administration • Rhonda Hardisty, Accounts Payable - Suppliers • Curtis Carriere, Finance Assistant • Donna McCorrister, Accounts Receivable • Glen Stevenson, Finance Assistant • Melissa Soldier, Finance Assistant - Travel • Nichole Brisebois, Finance Assistant - Payroll

Finance Report 2015-2016 | 13 mfnerc financial statements

14 | Finance Report 2015-2016 independent auditors’ report

Finance Report 2015-2016 | 15 statement of financial position

16 | Finance Report 2015-2016 statement of operations

Finance Report 2015-2016 | 17 statement of changes in net assets

18 | Finance Report 2015-2016 statement of cash flows

Finance Report 2015-2016 | 19 notes to the financial statements

20 | Finance Report 2015-2016 notes to the financial statements

Finance Report 2015-2016 | 21 notes to the financial statements

22 | Finance Report 2015-2016 notes to the financial statements

Finance Report 2015-2016 | 23 notes to the financial statements

24 | Finance Report 2015-2016 notes to the financial statements

Finance Report 2015-2016 | 25 notes to the financial statements

26 | Finance Report 2015-2016 schedule 1 - schedule of revenue and expenses administration

Finance Report 2015-2016 | 27 schedule 2 - schedule of revenue and expenses

roseau river anishinabe first nation ginew school

28 | Finance Report 2015-2016

Head Office Swan Lake First Nation 120-200 Alpine Way Headingly, MB R4H 0B7 Phone: (204) 594-4267 Fax: (204) 831-1301

Winnipeg Sub-Office 2-1100 Waverley Street Winnipeg, MB R3T 3X9 Phone: (204) 594-1290 Toll Free: (866) 319-4857 Fax: (204) 942-2490

Thompson Sub-Office Lower Level - 79 Selkirk Ave Thompson, MB R8N 0M5 Phone: (204) 594-1290 Toll Free: (877) 506-1568 Fax: (204) 677-0938

Waverley Sub-Office 200-1090 Waverley Street Winnipeg, MB R3T 0P4 Phone: (204) 594-1290 Toll Free: (866) 319-4857 Fax: (204) 477-4314