Finance Report - · PDF filefinance department as a summer student. ... Finance Report 2016-2017 ... accounting diploma with honours from the Anokiiwin Training Institute in 2005

Finance Report2016-2017

CONTENTS

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

Finance Department

Function ........................................................ 05

Objectives .................................................... 06

Meet our Team ...................................................... 07

Finance Information.............................................. 15

MFNERC Financial Statements .......................... 16

Independent Auditors’ Report .................. 17

Statement of Financial Position ................ 18

Statement of Operations ............................ 19

Statement of Changes in Net Assets ....... 20

Statement of Cash Flows ........................... 21

Notes to the Financial Statements ........... 22

Schedule 1 - Schedule of Revenue and Expenses - Administration ................. 29

Schedule 2 - Schedule of Revenue and Expenses - Roseau River Anishinabe First Nation Ginew School .............................................. 30

04 | Finance Report 2016-2017

MESSAGE FROM THE DIRECTOR OF FINANCE

On behalf of MFNERC’s Board of Directors, we welcome

you to preview our 2016-17 Financial Audit. Together we

value education. A positive educational process is our first

priority. We are constantly looking for ways to work more

efficiently, at the same time ensuring a quality education

for First Nations Students in Manitoba.

This Audit report reflects Manitoba First Nations

Education Resource Centre’s (MFNERC) on-going

commitment to improving both its performance and its

financial and fiscal accountability.

MNP LLP Chartered Accountants conducted the audit

of the MFNERC’s Financial Statements for the fiscal year

ending March 31, 2017. Total revenue was $36,982,320

and total expenses were $36,610,090. We are pleased to

report positive operating results for MFNERC for fiscal year

2016-2017. MFNERC’s success in 2016-2017 demonstrated

the strength and importance of sound management

execution and the value of financial discipline.

The management letter from MNP LLP, MFNERC’s auditing

firm, made no significant suggestions for operational

or procedural changes and they issued an “unqualified”

opinion on the March 31, 2017 MFNERC Financial

Statements, which represents the highest standard for a

financial audit.

MFNERC received $6,106,595 from INAC under New Paths

Program as well as $3,870,655 for Special Education

and $1,444,035 for other proposal driven education

programs. INAC also provided $1,363,993 for Education

Partnerships Program and $20,203,165 for the First Nation

Student Success Program and $2,782,977 for Roseau

River Anishinabe First Nation Ginew School. In total INAC

provided $35,711,420 to MFNERC which represented 97%

of overall funding.

Overall, Finance ensured that all requirements of a

project’s Contribution Agreement were being compiled

with authorized expenditures as well as ensured that the

deliverables were being adhered to.

George Merasty B.Comm (Hons.), CA, CPA, CAFM

Director of Finance

Finance Report 2016-2017 | 05

FINANCE DEPARTMENT - FUNCTIONS AND OBJECTIVES

FUNCTIONFinance manages the implementation of the financial plans and policies of MFNERC. The financial strategic objectives

of MFNERC is to manage the funds it has been entrusted with. Finance carries out this objective through cost effective

management of 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 managers

• Assessment of budget to actual expenditures on a monthly basis

• Analysis of project performance to ensure deliverables are adhered to




OBJECTIVE To fulfill all financial functions and execute its responsibilities, the Finance department has identified the following

objectives and strategies:

1. Ensure the integrity, reliability and transparency of all the financial operations of 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 MFNERC.

The Financial statements of MFNERC are prepared in accordance with generally accepted accounting principles,

including the accounting recommendations for not-for-profit organizations in Canada.

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 managers, 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) / HRMS

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.


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 MFNERC 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 has been married for 22 years to his wife, Marla, and they have two teenage

boys—Kaeden and Brenden.

GEORGE MERASTYB.Comm. (Hons.), CA, CPA, CAFM

Director of Finance

Sarah Cook is the Assistant Director of Finance at MFNERC. 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 is a proud member of the Misipawistik Cree Nation. She enjoys giving back to her

community and has been a member of United Way Winnipeg’s Council for Indigenous

Relations since 2015.

SARAH COOKB.Comm. (Hons.), CA, CPA

Assistant Director of Finance


MEET OUR TEAM

Curtis Carriere has worked in Finance at MFNERC 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 Nations School System (MFNSS).

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 Opaskwayak

Cree Nation 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

in Business.CURTIS CARRIERESenior Finance Assistant

DONNA MCCORRISTERAccounts Receivable

Donna McCorrister has been working in the Finance Department at MFNERC since

September 2016. 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.

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—

Matthew, Brittany, and Ashton—and one 13 year old son, Presley. Family is very

important to Donna, she spends most of her evenings and weekends watching her

teenage son play various sports such as football in the summer, then hockey in the

winter. She also enjoys playing golf with her husband.


MEET OUR TEAM

BRYANNA KIRKNESS Travel

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 14 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 recently married her long-time partner Leonard in late 2016, and together

they have a blended family of four children and five grandchildren.

Before joining MFNERC, 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 HARDISTYAccounts Payable


MEET OUR TEAM

SHANNON LAFORTEContracts Administration

Before becoming a Finance Assistant with 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.

BARBARA SPENCEAccounts Payable

Barbara is from Churchill, Manitoba and is a member of Fox Lake Cree Nation. Barbara

has worked with MFNERC since January, 2014 as a Research/Administrative Assistant

for the Structural Readiness Program.

Her previous work experience has been with First Nations Organizations in the area of

finance, health and social development.

Barbara has a business administration diploma from Red River College and a Bachelor

of Arts Degree from the University of Manitoba with a major in Native Studies and a

minor in Womens Studies.


MEET OUR TEAM

Heather Sinclair has been with MFNERC, since 2004 as the Finance Assistant – Payroll.

Previous to her time with MFNERC, she was the Finance Manager for the Peguis First

Nations Retail Grocery Store from 1992 to 1994. Return to the City of Winnipeg to work

with the Island Lake Tribal Council as the Finance Clerk form 1994-1999. She attended

the Yellowquill Community College in 2002 in the Certified Aboriginal Financial

Manager (CAFM) Program graduating in June 2004.

Heather is proud mother of her daughter Erin who is attending the University of

Winnipeg as a first year student.

Heather will be entering the MBA Program this fall and is so excited to enhance her

professional career goals and future.

She enjoys golfing with her ladies league team members of Larter’s at St. Andrews Golf

& Country Club for the past six years.

HEATHER SINCLAIRPayroll Lead

Dianne Roulette, Ojibway is a member of the Long Plain First Nation and has worked

at MFNERC for seven years in total. She has worked in the following organizations;

Royal Bank of Canada, Federation of Saskatchewan Indian Nations, Peace Hills Trust,

Assembly of Manitoba Chiefs, Dakota Ojibway Tribal Council Housing Authority

and also in her community of Long Plain First Nation. Dianne received a Business

Administration Diploma from the University of Saskatchewan, Legal Secretarial

Diploma from Robertson Career College and graduated from the Canadian College of

Funeral Services as a Funeral Director/Embalmer.

Dianne is a single parent and enjoys living her life to the fullest with her three wonderful

children; Kyra (Masters of Social Work), Quinn (High School Graduate), and Ellery (High

School), and she is also a proud grandmother of her only grandchild, Paige.

DIANNE ROULETTE Purchase Orders


MEET OUR TEAM

Nichole Brisebois is currently a Finance Assistant in Payroll at MFNERC. 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, now five, is in his second year into his

educational journey attending kindergarten.

NICHOLE BRISEBOIS Payroll

CANDACE ROBINSONPayroll

Candace Robinson was born and raised in Winnipeg and is a member of Swan Lake

First Nation.

She has been working in the payroll field for 14 years receiving her designation as

a Payroll Compliance Practitioner in 2015 through the Canadian Payroll Association.

Candace worked at Air Canada for 18 years in finance, in accounts receivable and

accounts payable and ended her career there in payroll. Before coming to MFNERC,

Candace worked in a couple of different organizations in the payroll field.

Apart from her certificate from the Canadian Payroll Association, she also has a

diploma in business administration from Red River College, and also a designation

as a Tax Preparer with H&R Block where she is continuously upgrading her tax

education yearly.

Candace has three children, two adults (Dinae and Kayla) and one teenage son (Liam).

When she is not working, she enjoys spending most of her time with her son and

her grandson.


MEET OUR TEAM

Ashley Carriere was first employed with MFNERC during the summer of 2005 in the

finance department as a summer student. She graduated from Red River College with

a Business Administration Diploma.

After graduation, Ashley was once again employed with the Resource Centre as an

Administrative Assistant in the School Programs department. Wanting to expand her

knowledge, she enrolled at the University of Winnipeg and graduated with a Human

Resource Management Diploma. After graduation she came back to the Resource

Centre where she is currently the Payroll and Benefits Administrator.

ASHLEY CARRIERE Payroll and Benefits

Terrence Shannacappo, Ojibway, is a member of the Rolling River First Nation, and

has worked at MFNERC since April of 2013. From 2000 to 2013, he was employed as a

Finance Assistant with the Assembly of Manitoba Chiefs (AMC). Prior to his employment

with AMC, he has worked with various tribal councils, aboriginal organizations, federal

government and private corporations.

Terrence graduated from Red River College with a Business Administration diploma. He

is currently enrolled at Thompson Rivers University’s Bachelor of Commerce Distance

Education Degree Program with a major in Accounting.

Terrence’s only child Tishina graduated from UBC in 2014 and is also currently employed

with MFNERC. Terrence raised his daughter as a single parent upon his wife’s death in

2001. Her mom would have been extremely proud of her academic accomplishments

to date.

For extracurricular activities, Terrence enjoys going for long walks, cycling, traveling,

reading, and attending tae kwon do classes.

TERRENCE SHANNACAPPOBenefits Administration


MEET OUR TEAM

Glen Stevenson has been the Finance Assistant at MFNERC over 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

City of Winnipeg. However, he returned to school in the fall of 2004 and received an

accounting diploma with honours from the Anokiiwin Training Institute in 2005.

He has been married for five years to his wife Melissa, and together they have one

son, Jacob.

GLEN STEVENSON Pension & GL

Melissa Soldier has worked at MFNERC 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 Travel Agent


MFNERC FINANCE INFORMATION

MFNERC FINANCE OFFICESwan Lake First Nation

120-200 Alpine WayHeadingly, MB R4H 0B7Phone: 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• Curtis Carriere, Senior Finance Assistant• Donna McCorrister, Accounts Receivable• Bryanna McKay, Travel• Rhonda Hardisty, Accounts Payable• Barbara Spence Accounts Payable• Shannon LaForte, Contracts Administration • Dianne Roulette Purchase Orders• Heather Sinclair, Payroll Lead• Nichole Brisebois, Payroll• Candace Robinson Payroll• Ashley Carriere Payroll and Benefits• Terrence Shannacappo, Benefits Administration• Glen Stevenson, Pension & GL• Melissa Soldier, Travel Agent


MFNERC FINANCIAL STATEMENTS


INDEPENDENT AUDITORS’ REPORT


STATEMENT OF FINANCIAL POSITION


STATEMENT OF OPERATIONS


STATEMENT OF CHANGES IN NET ASSETS


STATEMENT OF CASH FLOWS


NOTES TO THE FINANCIAL STATEMENTS














SCHEDULE 1 - SCHEDULE OF REVENUE AND EXPENSES

ADMINISTRATION


SCHEDULE 2 - SCHEDULE OF REVENUE AND EXPENSES

ROSEAU RIVER ANISHINABE FIRST NATION GINEW SCHOOL

Head OfficeSwan Lake First Nation120-200 Alpine WayHeadingly, MB R4H 0B7Phone: (204) 594-4267Fax: (204) 831-1301

Winnipeg Sub-Office2-1100 Waverley StreetWinnipeg, MB R3T 3X9Phone: (204) 594-1290Toll Free: (866) 319-4857Fax: (204) 942-2490

Thompson Sub-OfficeLower Level - 79 Selkirk AveThompson, MB R8N 0M5Phone: (204) 594-1290Toll Free: (877) 506-1568Fax: (204) 677-0938

Waverley Sub-Office200-1090 Waverley StreetWinnipeg, MB R3T 0P4Phone: (204) 594-1290Toll Free: (866) 319-4857Fax: (204) 477-4314

Documents

Finance Report - · PDF filefinance department as a summer student. ... Finance Report 2016-2017 ... accounting diploma with honours from the Anokiiwin Training Institute in 2005