Peak VOL 21 Issue 17

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Sales • Repairs Four auto bays to serve you

COMMUNITY............ 6 CULTURE................ 10 SPORTS...................18 CLASSIFIEDS.......... 20 TIME FOR A BREAK.... 23

BC DL #7711

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WEDDING PLANNING »

Brides and grooms reflect on recent weddings and provide practical advice PAGE 13

HOME HEROES

Powell River Kings end nine-game home stand with 16 of possible 18 points PAGE 18

PRPEAK.COM

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Wednesday.February 17.2016

Vol.21 No.17

Canada Post Agreement 40069240

Get the Peak to Go iPhone app now available in the App Store or iTunes

FUTURE FORWARD: Tla’amin Nation taxation will be a large part of revenue development for the new nation when treaty implementation takes place on April 5. ROY FRANCIS PHOTO Get the Peak to Go iPhone app now available in the App Store or iTunes

Financial foundation for Tla’amin Balancing taxes, saving and service spending aspects of treaty implementation JANET MAY Peak contributor

How to finance a nation? Treaty funding is a start, but Tla’amin Nation will soon need to generate revenue. In part two of a threepart series, Janet May from Powell River Diversity Initiative outlines the financial foundation of Tla’amin. Tla’amin Nation chief negotiator Roy Francis distinctly remembers one of his community’s key questions during the treaty process. “‘Will there be enough funding to look after all our needs

going forward?’ It took me a long time to figure out that it’s not about how much money is in the package,” said Francis, “it’s more about what we plan to do with it.” The Tla’amin treaty, which takes effect April 5, includes a Capital Transfer Fund (CTF) of approximately $30 million to be paid in equal instalments over the next 10 years. After deducting loan payments for money lent by the Canadian government, the annual net payment will be about $2.4 million. In addition, Canada and BC will pay $0.6 million annually for 50 years, for Resource Revenue Sharing (RRS) on Tla’amin traditional territory. Tla’amin’s future success depends on how those funds are managed and the nation has spent years preparing finance systems to manage the money for community programming costs and savings. The CTF and RRS payments are meant to be saved and invested for the future in a trust called Qamɛs ʔəms Tala, which means “our money is put away safely.” HOME$479,000 AND STUDIO

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“The CTF was discussed very intensely throughout the community,” said Francis. “Our plan is to set it aside and invest the interest back into the trust and have it grow over years. We have recruited Tla’amin members who have completed accredited training, and who will serve as trustees.” A one-time payment of $6.9 million is intended to support economic opportunities, and Tla’amin will receive payments dedicated to three specific initiatives: fish stewardship, purchase of a communal fishing vessel, and support for culture and language. Financial accountability and conflict of interest are also important issues for Tla’amin. At the first sitting of the Tla’amin legislature, two of the first laws to be passed will be the finance and administration law and the conflict of interest law. Tla’amin has been acting under a finance and administration law since 2013 when it achieved compliance approval from the First Nations Financial Management Board. “We have an unpreceden ed level of financial management,” »2

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