Big Sign of Poor Money Management when MNBC approves spending money this year based on possible funding 3 years from now
(July 17, 2024) The current group of directors at Métis Nation British Columbia has approved reallocating future housing funds from the fiscal year 2027/28 to the current year. The amount is believed to be about $1 million and would be used for the First Time Home Buyers Program. The decision is revealed in Board minutes from a Board meeting held on June 17th.
Some big questions –
1. What happened to the future funds in 2025/26 and 2026/27? Have they already been spent? If they haven’t been, then why is this Board using funding that is supposed to be used on housing 3 years from now?
2. What happens if a new federal government in 2025 eliminates that program funding and that money stream no longer is flowing to MNBC? How will MNBC replace that money that will have already been spent?
“This is not a good financial management decision at all,” said Clara Morin Dal Col. “They are spending money today based on future funding allocations, in this case 3 years from now. It is absurd to be spending money today that they haven’t received yet, and which a new federal government may well cut because Pierre Poilievre, the Conservative Leader and very possibly our next Prime Minster has said he will balance the budget once he is elected. He will have to find $40,000,000,000 to address the current deficit, and you can be assured that he will be looking at cutting funding for Indigenous groups to help find the $40 billion shortfall.”
Ms. Morin Dal Col, who is running for MNBC President in the September election said, “In addition to this latest bad financial decision, this current Board has spent millions of dollars on buying properties in different parts of the province, but has yet to turn the sod on any of the promised housing projects. We need a full accounting of how they have spent the tens of millions of dollars in housing funds that I negotiated when I was President.”
She said, “MNBC Citizens deserve openness and transparency on all such matters and they’re not getting it from this current Board.”
She added, “With the support of MNBC Citizens for the Clara Morin Dal Col Team, we will provide responsible and prudent financial management for MNBC Citizens, and this current Board will be sent packing.”
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(For more information about the Clara Morin Dal Col Team click on the link below):
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