PRINCE ALBERT GRAND COUNCIL FINANCIAL 20 REPORT 17 PAGC O FFI C ES Executive Office Holistic Wellness Centre (SIIT) Business Admin Chief Joseph Custer Reserve #201 Chief Joseph Custer Reserve #201 710 15th Ave East 2nd Floor 2300 - 10th Avenue West 2300 10th Avenue West, Cottage 3 Prince Albert, SK S6V 7A4 P.O. Box 2350 Prince Albert, SK S6V 6Z1 Tel: 953-7225 Fax: 763-6899 Prince Albert, SK S6V 6Z1 Tel: 765-5305 Toll Free: 800-765-5305 Tel: 953-7200 Fax: 764-6272 Fax: 765-5223 Spiritual Healing Lodge Wahpeton Reserve 94 B Agriculture Information Technology Services Box 2350 Main Floor – McIntosh Mall 2300-10th Avenue West Prince Albert SK. S6V 6Z1 P.O. Box 3003 Cottage #4 Ph: 953-2498 Fax: 953-2514 Prince Albert, SK S6V 6G1 Prince Albert, SK S6V 7G3 Ph: 953-2755 Fax: 953-2440 Ph: 953-7281 Fax: 764-5388 Sports, Culture & Recreation 2ND Floor: 3601-5TH Ave East Angus Mirasty School Justice Unit P.O. Box 2770 2101 - 5th Avenue West 77A-11th Street West Prince Albert, SK S6V 7M2 P.O. Box 1988 P.O. Box 2350 Ph: 953-7234 Fax: 922-3135 Prince Albert, SK S6V 6K1 Prince Albert, SK S6V 6Z1 Tel: 953-7232 Fax: 763-9245 Ph: 953-7254 Fax: 764-7295 Sprucelodge Boarding Home Cottage 10 Child Care & Education Centre Northern Lights Community Prince Albert, SK S6V 3S1 Chief Joseph Custer Reserve #201 Development Corporation Ph: 953-1590 Fax: 922-2502 851 - 23rd Street West, Cottage 5 2nd Floor, 2300-10th Avenue West P.O. Box 1988 P.O. Box 2350 Urban Services Prince Albert, SK S6V 4M4 Prince Albert, SK S6V 6Z1 1410 B Central Ave. Tel: 953-7210 Fax: 763-1270 Ph: 953-7259 Fax: 764-0765 P.O. Box 2350 Prince Albert, SK S6V 6Z1 Education Northern Spruce Housing Tel: 765-5300 Fax: 922-5544 Sturgeon Lake Office Complex P.O. Box 777 3601 - 5th Ave. East Prince Albert, SK S6V 5S2 Valley Hill Youth Treatment Centre P.O. Box 2770 Tel: 922-4122 Fax: 764-9222 PO Box 761 Prince Albert, SK S6V 6K1 2101-10th Avenue West Tel: 953-7234 Fax: 922-3135 P.A. Development Corporation Prince Albert, SK S6V 5S2 2nd Site Wahpeton Reserve #94A Ph: 764-2311 or 764-2312 or Chief Joseph Custer Reserve #201 P.O. Box 478 764-2958 Fax: 764-2377 2300 10th Ave West, Cottage 11 Prince Albert, SK S6V 5R8 Prince Albert, SK S6V 7M2 Tel: 922-0099 Fax: 922-5075 White Buffalo Treatment Centre Tel: 953-7234 Fax: 922-3135 Sturgeon Lake Reserve #101 PAGC Learn & Grow Daycare P.O. Box 2350 Housing & Technical Services Cottage 9 Prince Albert, SK S6V 6Z1 Chief Joseph Custer Reserve #201 2300-10th Ave West Ph: 764-5250 Fax: 764-5255 2300 10th Ave West, Cottage 12 Prince Albert, SK S6V 6K1 Prince Albert, SK S6V 7G3 Ph: 765-5308 Fax: 763-0838 Tel: 953-7242 Fax: 922-1710 Personnel & Finance Forestry 2300-10th Avenue West Chief Joseph Custer Reserve #201 P.O. Box 2410 2300 - 10th Avenue West, Cottage 12 Prince Albert, SK S6V 7G3 Prince Albert, SK S6V 7G3 Ph: 953-7217 Fax: 953-1045 Tel: 765-5373 Fax: 763-2012 Finance Fax: 763-3635 Health & Social Development Sakwatamo Lodge Chief Joseph Custer Reserve #201 James Smith Cree Nation #100 851 - 23rd Street West P.O. Box 3917 P.O. Box 1775 Melfort, SK S0E 1A0 Prince Albert, SK S6V 5T3 Tel: 864-3631 Fax: 864-2204 Tel: 953-7283 Fax: 763-6611 F INANCE S UMMARY The determination and leadership of our member First Nations Chiefs and our Executive have guid- ed PAGC over the last few years to recovery of a large deficit of $6.5 million. First Nations com- This year will be the fourth during which PAGC has munity members and staff have worked together suffered from INAC’s drastic cut of $1,343,314 to with PAGC staff and program managers to deliver our Tribal Council Funding (TCF) that was imposed services both effectively and efficiently during this on all regional management organizations begin- ongoing recovery. We will continue to rely on our ning in April of 2014. This 71% reduction in core member First Nations leaders, Executive and staff funding by INAC, now totals $5.4 million that would to help us eliminate PAGC’s net debt over the next have provided essential funding for core advisory year and a half. services to our member First Nations. It reduced PAGC’s ability to assist First Nations in their consul- The consolidated operating results for the 2017 fis- tation and negotiation with the federal government cal year show an annual surplus of about $900,000 on treaty issues and program services. We remain resulting from increased revenue to $81.1 mil- optimistic that some of this funding will be restored lion and expenditures of $80.2 million. Increased in some form so that PAGC can continue to effec- funding at mid-year from INAC for Education and tively serve our member First Nations. Technical Services raised our budget by $17 million over the prior year. After amortization expense of We are grateful for the diligent work of our auditors $533,672 and investment in tangible capital as- to meet stringent time lines to complete this year’s sets of $703,891, the net debt recovery debt was audit. We appreciate the dedication and profes- $717,372, which is a reduction from ($3.05 mil- sionalism of our auditors, Keith Fonstad, Todd lion) to ($2.33 million). Some of the yearend fund- Robertson and all the staff at MNP LLP, especially ing has been recorded but not yet received from this year. Their advice and patience has crucial to the funding agencies nor expended, resulting in an finishing the financial statements under hectic cir- increase in deferred revenue to $2.6 million from cumstances. We thank them for working night and $0.5 million. day as well as on weekends to provide audited fi- nancial statements to the Annual Ass. every year. The governance and support of our First Nations leadership and the Executive has ensured that For a quarter century our department has enjoyed PAGC will continue to improve its financial posi- the presence and encouragement of our retiring tion by following budgets for program services and Grand Chief Ron Michel These past years he had discretionary expenditures. Our deficit recovery exhibited resilience, perseverance and compassion target remains around $1.5 million for the current in serving as first as Chief of Peter Ballantyne Cree fiscal year, so that the net debt can be mostly elim- Nation and then as Grand Chief of PAGC. His lead- inated by the next fiscal year. The Annual Assem- ership and support at our offices is highly honored bly has been active in reviewing PAGC’s financial and respected. He has our best wishes as he enjoys performance and our First Nations delegates have more time with his family, friends and community played a very constructive role and provided sup- members as he continues to serve his people. port during our deficit recovery. We are grateful for their dedication and work at their communities and The finance staff appreciates our First Nations El- their contributions to PAGC. The Chiefs on PAGC’s ders, Chiefs and Councils, and their staff for their Executive/Treasury Board have been supportive work and commitment towards PAGC’s financial of our deficit recovery process through quarterly success and the progress of their communities. We reviews of the budgets and discretionary expendi- express our sincere appreciation for your leader- tures and they will continue to monitor and recover ship, guidance, wisdom and support over the years any over-expenditures by the Executive and staff. as PAGC strives to serve your members better. T ABLE O F C ON T EN ts 2 Consolidated Statement of Financial Position 3 Consolidated Statement of Operations 4 Consolidated Statement of Changes in Net Debt 5 Consolidated Statement of Cash Flows 6-15 Notes to the Consolidated Financial Statements 16 Consolidated Schedule of Tangible Capital Assets 17 Consolidated Schedule of Expenses by Object 18-24 Consolidated Schedules of Revenue and Expense by Program 25-26 Financial Charts 27 Summary of Financial Activities and Surplus 28-34 Schedules of Program Financial Activities and Surplus PADC Management Company Ltd. Consolidated Statement of Financial Position As at March 31, 2017 2017 2016 Financial assets Cash resources (Note 3) 1,968,936 1,358,458 Accounts receivable (Note 4) 9,621,534 4,564,013 Due from member First Nations (Note 5) 2,012,239 1,923,649 Note receivable (Note 6) 25,245 48,309 Total financial assets 13,627,954 7,894,429 Liabilities Current Bank indebtedness (Note 7) 8,889,089 6,457,770 Accounts payable and accrued liabilities (Note 8) 2,797,241 2,843,263 Deferred revenue (Note 10) 2,591,781 519,107 Due to member First Nations (Note 11) 834,909 1,003,727 Current portion of long-term debt (Note 12) 135,714 26,452 Total current liabilities 15,248,735 10,850,318 Long-term debt (Note 12) 712,500 94,763 Total liabilities 15,961,234 10,945,081 Net debt (2,333,281) (3,050,652) Non-financial assets Prepaid expenses 23,221 10,834 Tangible capital assets (Note 13) 3,414,240 3,244,020 Total non-financial assets 3,437,461 3,254,854 Accumulated surplus (deficit) (Note 21) 1,104,180 204,202 Contractual obligations (Note 14) Contingent liabilities (Note 15) Director Director 1 2 PADC Management Company Ltd.