First Nations Fiscal Management Act

Marginal note:Mandate

49 The purposes of the Board are to

• (a) assist First Nations and entities referred to in subsection 50.1(1) in developing the capacity to meet their financial management requirements;

• (a.1) assist First Nations and entities referred to in subsection 50.1(1) in developing and implementing laws and by-laws respecting financial administration;

• (b) assist First Nations and entities referred to in paragraphs 50.1(1)(a) to (c) in their dealings with different levels of governments respecting financial management, including matters of accountability and shared fiscal responsibility;

• (c) assist First Nations and entities referred to in paragraphs 50.1(1)(a) to (c) in the development, implementation and improvement of financial relationships with financial institutions, business partners and different levels of governments, to enable the economic and social development of First Nations and of those entities;

• (d) develop and support the application of general credit rating criteria to First Nations;

• (e) provide review and audit services respecting First Nation financial management;

• (f) provide assessment and certification services respecting First Nation financial management and financial performance;

• (g) provide monitoring and reporting services respecting financial management systems and financial performance;

• (g.1) provide First Nations and entities referred to in subsection 50.1(1) with monitoring and reporting services respecting the implementation of laws and by-laws respecting financial administration and the compliance of those laws and by-laws with applicable standards;

• (h) provide services respecting the co-management and third-party management of local revenues and other revenues;

• (i) provide advice, policy research and review and evaluative services on the development of fiscal arrangements between different levels of governments and First Nations, as well as on the development of fiscal arrangements between different levels of governments and entities referred to in paragraphs 50.1(1)(a) to (c);

• (j) develop, implement, test and evaluate, as well as conduct research with respect to, proposals and pilot projects related to the purposes set out in the other paragraphs of this section;

• (k) assist First Nations, entities referred to in subsection 50.1(1), other levels of government and public and private organizations in the development and implementation of fiscal and economic proposals that contribute to responding to the Truth and Reconciliation Commission of Canada’s Calls to Action and to implementing the United Nations Declaration on the Rights of Indigenous Peoples; and

• (l) collect data, publish statistical information and conduct research and analysis on matters related to the purposes set out in the other paragraphs of this section.