Shxwhá:y Village’s financial future is dependent on a Council that is looking at securing environmentally sound and sustainable economic development that will maintain itself for generations to come. We are utilizing the law below to make ourselves transparent and accountable.
The decisions made by our leadership today can have a profound effect on our economic and financial health in the future. The new reality is that Indigenous leadership faces increased scrutiny from membership and other stakeholders on accountability and transparency, but at the same time leaders must make critical decisions which may involve taking some risk.
Having an effective financial administration system is fundamental to ensuring good governance and protection of the economic and financial health our Village by connecting the decision-making to the acceptable level of risk.
To assist Indigenous Nations in this new reality, the First Nations Fiscal Management Act was created with the legislative basis to provide a mechanism for Indigenous Nations to establish their own comprehensive Financial Administration Law (FAL) that is appropriate to their particular needs and meets standards where required.
Shxwhá:y Village has been working towards this end and is developing their own Financial Administration Law to give better protection, structure, better accountability, and transparency.