Recently Released MNBC Financial Statements to be Dissected Live on Coffee Talk Broadcast

Don’t miss tomorrow night’s Coffee Talk broadcast! BCMF President Keith Henry will be joined by BCMF Financial Advisor Sandy Aird and they will be providing an analysis of the long awaited financial statements that were recently released by MNBC. Sandy is a Chartered Accountant and he and Keith will be explaining exactly what these documents reveal about the financial health of MNBC. There’s more than meets the eye and this should prove to be the most interesting Coffee Talk broadcast to date!

It is important to note that the MNBC Financial Statements were signed off on July 28 but were only released to the Métis people of BC on August 30 and only after MNBC was pressured by the media to release the documents.

The Coffee Talk broadcast will be live at 7:30pm tomorrow night – Thursday, September 1st. You can watch it live on this website. Please share the link with friends and family: http://bcmetis.com/coffee-talk/

Downloads:

Click here to download the MNBC Financial Statements.

 

7 Responses to Recently Released MNBC Financial Statements to be Dissected Live on Coffee Talk Broadcast

  1. Dean August 31, 2011 at 4:08 pm #

    Hopefully the “statements” will also show the salaries and expenditures of all of the directors as well. If not, then they are useless and incomplete.
    Dean

  2. Metis Citizen August 31, 2011 at 8:34 pm #

    Looking at the financials and comparing it to the minutes and other information, I am a bit confused. I noticed that the payment of the taxes is a part of the loan agreement, (page 18 MNBC audit 2011) so essentially they are breaking the mortgage agreement with the bank. Reading the letter from Bob Trumbley today justifying the non payment, exudes mismanagement why incur all the fines, and risk a tax sale for a perceived exemption. In the MNBC minutes it was mentioned that the bank was not being cooperative and currently the board is searching for another mortgage holder. It is only a matter of time that the bank will step in when they are in breach of the mortgage terms or next year the school will be up for tax sale. (yes, in its third year)

    For those that do not know what a working capital deficiency is: If current assets are less than current liabilities, an entity has a working capital deficiency, also called a working capital deficit. Even if the school is sold, there is no way that the MNBC can eliminate the working capital deficit by a newly formed catering company. Are we going to go gold panning I hear the price of gold is 1800.00 a ounce.
    .

  3. Richard Lucier-larson August 31, 2011 at 11:14 pm #

    Metis Citizen:
    I am not sure about the chances of finding a fortune in placer Mining, but I have a cousin up North who will sell you a claim, I understand he also has a bridge to sell (Lions gate I think).
    Richard Lucier-larson
    A proud Half-breed with his money in a safer place than a old outdated building (like a sock).

  4. Keith Henry September 1, 2011 at 12:14 pm #

    Good afternoon all,

    I just sent the following email earlier today to the community Presidents in BC as the MNBC supporter Dan Pitman is using his community position (President of Penticton) as leverage to justify the MNBC financial situation for the second year in a row

    You make your opinion on this (Dan’s email is below mine and sorry if it is hard to follow)

    Good morning Metis leaders from throughout BC,

    I am in receipt of an email from Penticton President Daniel Pitman (one of the Chartered Community leaders in BC). Although he seems to point to myself with various indirect statements, he was not respectful to include me on his email distribution. Regardless thanks to many of you I have been provided a copy and I offer an alternative point of view for the recipients of his interesting perspective regarding responsible Metis government.

    The situation with the corporation MNBC has grown worse in the last three years. MNBC wants people to believe is is not their fault and their supports like Daniel Pitman want you to believe that it is not MNBC’s fault.

    Herein lies a challenge for many Metis people. MNBC leaders sign cheques, they decide priorities for the organization and they are legal trustees of a non-profit corporation.

    Issue Number 1

    BCMF is impressed with the description of the catering company in the school. However, Metis people were told by the MNBC in 2009 in a presentation that this company would yield substantial revenues within 2 years. I watched that emotional presentation and it is now over two years later and nothing but images, words and poetic descriptions. I can speak from business fact when I say surviving in the food industry is a MAJOR challenge and the promises by the MNBC have never lived up to the realities MNBC achieved or not. As any restaurant owner who has had to close if they set out to fail and of course no one does.

    Issue Number 2

    Daniel and many of the MNBC supporters keep promoting this message we must take risk. The plain fact that according to the MNBC financial policies (that have been in place well before 2009) MNBC board and management must not take financial risk because MNBC was to work for the people and protect the programs and services at all costs. The MNBC board’s number 1 job is to deliver programs and services for the MNBC citizens. Furthermore as a nonprofit they are legally required to not spend more than the corporation can afford.

    As we know today MNBC has accumulated a total negative working capital of approximately $5.8 million and instead of the MNBC working for the people and communities, they have some of you convinced you should work for them. I ask each of you what are you working for? Protecting overspending on their salaries, overruns on administration, no transparency, etc.? What do you think the outside world is thinking watching us as Metis people promote irresponsible gross financial mismanagement and yet somehow individual community leaders defend these acts because people like Daniel think you should for poetic reasons? Daniel has decided that despite the obvious business fact (unpaid taxes, growing debt for three consecutive years, etc.) he will support MNBC board members at all costs, even for his personal reputation as a competent business person. I guess that is his choice and his description of his person risks has no bearing on this situation. MNBC is a government and public funded nonprofit, it is not an ATM for MNBC board members and their management.

    The recent release of the MNBC statements should give each of you more than enough to question the credibility of any of the MNBC or their board. On page two their own auditors state; “Emphasis of Matter – …that may cast serious doubt about the Council’s ability to continue as a going concern.”

    I do not know if Daniel is a Chartered Accountant and what financial administrative experience he has for nonprofits, and not his personal finances, but this is very serious. We have been asking each of you as community leaders to address this, even if you do not like BCMF because this MNBC mismanagement will lead to programs being removed. Government contracts all have default clauses and here is a standard statement that can be impacted now:

    ” a change occurs with respect to any one or more, including all, of the properties, assets, condition (financial or otherwise), business or operations a contractor which, in the opinion of the Province, materially adversely affects the ability of the contractor to fulfill its obligation under this agreement.”

    The MNBC auditors are stating this publicly for the first time, not BCMF. This is a major issue going forward and this board could enable governments to hold programs for the very people that are community leaders, such as Daniel, were elected to protect and support.

    Issue Number 3

    Daniel, MNBC, and other supporters need to stop perpetuating the notion that BCMF or the former CCMC is attempting a coup. We provided all communities an offer to meet in the last 15 months, we offered a real MNBC Debt Recovery Plan Year One and we have made every attempt to support how this situation could be fixed. The MNBC debt need tough decisions and everyone must stop side stepping responsibilities for allowing this situation to happen.

    MNBC board members say each day it is the governments fault, if only we got the stimulus funding. Then they say it is BCMF’s fault, etc. Meanwhile their MNBC Debt Recovery Plan that Daniel mentions has not been followed in an y way. Where are the monthly progress reports, why did MNBC not disclose the 2010-2011 financials until the media showed up this week? The 2010-2011 financials were completed July 28th.

    Closing

    Many of us realize that Daniel enjoys drawing speeches with interesting definitions cited from the Websters dictionary and that is his prerogative. Unfortunately Daniel has yet to ready the Websters definitions of “insolvency, fiduciary, collusion, gullible, misleading, and many others”.

    I can assure each of you that a large number of MNBC citizens will be attending the upcoming MNBC AGM prepared with questions and demanding answers. As community leaders take the recent MNBC financials to your own accountants, ask them for an objective opinion? Ask yourself why MNBC continues to state they mave more assets than liabilities, their auditors dont say so? Ask what support has MNBC given to your grassroots people, your capacity? Ask MNBC board to disclose how much they were paid?

    Remember as you consider your future for your community and our Nation that it is our people in need who we are to work for.

    Sincerely

    Keith Henry
    President
    British Columbia Metis Federation
    k.henry@bcmetis.com
    1-778-388-5013

    Email from Dan Pitman,

    Tawnshi kiya mataen, recently my wife and I stopped by the school unannounced. We quietly went in seeking out people. We stopped in and spoke with Laurel, Tracey and Cora and shared mutual greetings. My wife was interested in the catering kitchen as she is a former owner of several restaurants. As we walked around some more a gentleman of the name Stuart Cadwallader stopped us and generously invited us into conversation. I stated my name was Daniel Pitman and introduced my wife Colleen and stated we were interested in seeing the kitchen if possible. Mr. Cadwallader asked if we new of Chef Andrew, I said yes and just saw him going the other way. Mr. Cadwallader called Chef Andrew back and together they provided us with a tour of the facilities. With great enthusiasm my wife took the invitation and ventured into the catering area. We were greeted by two recent graduates and a wonderful aroma wafting in the air. We inquired as to the aroma and were offered a spoonful of the most incredible lentil soup we have ever tasted. During the presentation Stuart articulated the catering plans for the school and the success’s the catering business has already created. The two chefs recently graduated are continuing in their studies through the school’s support to eventually work towards their Red Seal of being Chef’s. On our departure we stopped in and talked to Tracey some more and she too spoke of the incredible meals and catering functions that have occurred at the school, most recently the graduation dinner for the Fire Fighters Program. After leaving with a generous travel package of lentil soup my wife and I discussed the school on our return to Penticton. My wife spoke of being able to visually see the school, the grounds and the staff I have often spoke excitedly about. We talked about the gracious hospitality that was offered to us coming in unannounced. The enthusiasm of Mr. Cadwallader and Chef Andrew in explaining the various equipment used in the culinary training which is if you are a cook or restaurateur are of exceptional quality. I have explained to my wife the strife of building a nation with the internal issues that prevent us from moving forward in unity as Metis people since the AGM of 2009 in Penticton. I have spoken to you about “Character” at the MNGA in 2011. I remain committed to the objectives of our Metis Nation of British Columbia and remain confident that as a nation we must take risk is order to build capacity. Citizens spoke in past years of the debt of MNBC and fear of defaulting on numerous liabilities or projecting insolvency and this year those same fear instilling individuals are continuing to use the debt as a vehicle for structuring a new Metis British Columbia government. I ask you as individuals, have you ever risked being in debt in an attempt to secure your own financial stability i.e. a home mortgage. In the winter of 2008 I found myself scared due to my investment portfolio lessening as the markets turned south. Today I find myself again in debt recovery due to the market trends but there is one difference. I weathered the financial turn in 2008 and I will with confidence weather the current market issues. The reason is “faith”, I believe that my investments will recover and create financial stability for my wife and I. I believe the risk of gong into mortgage debt will create more stability for us and also crate retirement opportunities to spend on. A debt recovery plan was approved at the 2011 MNGA and it has been initiated and I believe we will in future rise out of debt and create financial stability for all Metis Citizens of British Columbia. At the 2010 AGM an attempt to implement a coup was unsuccessful and on the last day their spokesperson stated “I have no intentions of wanting to bring this nation down” and yet what is that individual attempting to promote? We are heading into another AGM, we are still in debt, there remain individuals attempting to bring our nation down. We have as Metis people always faced adversity but in doing so our conviction to act with integrity, courage and confidence has and must always continue. In 2012 those same disgruntled Metis people (not all are MNBC citizens any more) will no longer have arrows to shoot at their identified targets, who will they then point to once the current executive vacate their positions? My final thought for you is the word “BULLY”- a blustering, quarrelsome, overbearing person who habitually badgers and intimidates smaller or weaker people. There is just one exception to the definition! I for one am not smaller, weaker or will be intimidated by someone that should take a long look at their own “character”. Pishshapmishko and Meena kawapimitin Daniel Pitman proud Metis British Columbia Citizen

  5. Karen September 1, 2011 at 11:54 pm #

    Thank you for the insightful email from Daniel Pitman and his opinion on the success for Metis people in BC. As I am Metis and my family on both sides, I am left to question the decision making on the Meet-so enterprise and its establishment and how many Metis the program is benefiting our Metis Nation. How many Metis statistically graduated from this program?

    I know Mr. Stuart Cadwallader taken from a bio:

    “Stuart Cadwallader is a registered status Tongas Tlingit of the Raven Clan with direct lineage to Chief Shaiks and Anislaga (also known as Ansnak or Mary Ebbetts Hunt). He was born in Ketchikan , Alaska and raised in the Kwagiulth village of Fort Rupert (Tsa’kis) where his family has continued to maintain their hereditary home.”

    Upon asking further question as to who Chef Andrew George is, and working with the Metis Skills and employment centre in searches I found the answer:

    “Andrew George Jr. (born November 11, 1963) was in Smithers, British Columbia which is located in north central British Columbia. Andrew grew up in Telkwa, British Columbia.Wet’suwet’en hereditary chief Andrew George Jr. has extensive experience in forestry and Aboriginal lands and resources management. Andrew was the Lands and Resources Manager at the Office of the Wet’suwet’en for eight years before leaving to pursue his culinary interests. He has established countless relationships with government, industry and academic institutions throughout British Columbia.”

    There is no data coming out of this Metis school culinary program to how many actual Metis it is actually benefiting. One of the videos I have watched published by the Meet-so catering, Andrew George talks about the Metis culinary program that they accept all First Nations, non-aboriginal etc. Isn’t this school funding earmarked for Metis people? Well at first glance the cooks at the helm are status first nations. (No offense First Nations cousins) We have fought for years to find our place in the Canadian constitution and our separate place in our recognition of our rights outside of first nations treaties, we are always overridden by first nations who have the superior government resources. The school is purchased by Metis and programs that are intended for Metis should be Metis designated, this program is far from that reality.

    Daniel Pitman is a sell out he has no loyalty to the people as he holds first nations in high praise trying to act like they know Metis culture and food traditions.

    Links to items mentioned above:

    Andrew George – http://www.bvcentre.ca/pdf/Events/Conferences/SORTIE/Proceedings/2-George-deWit-Both.pdf

    Meet-so Catering- https://www.sites.google.com/site/meetsocateringservices/meet-so-catering-services

    Stuart Cadwallader Treasurer Klahowya Village-

    http://www.civicinfo.bc.ca/practices_innovations/surrey_ubcm_partnership.pdf

  6. Keith Henry September 2, 2011 at 9:26 am #

    Good morning Karen,

    Thank you so much for the insight on this. BCMF is also well aware of this situation but has remained silent on this until now.

    We 100% agree with your views Karen. People like Daniel Pitman are saying we should risk everything on a dream and a prayer. Well that is bad enough but more over it appears most of these students and instructors are not even from Metis from our communities? Of course there is no issue with supporting non-Metis and First Nations but that is not the mandate of an organization of the MNBC. So why does MNBC take ALL of the financial risk in terms of loans, paying wages, etc.? The credibility of this entire school and the way MNBC leaders and management have sold the alleged economic development initiative is sadly lost.

    So what are people like Daniel really saying to Metis people. I believe he is saying its okay to risk everything even if our people dont benefit so long as things stay the way they are. Many of us know Daniel has ambitions to be a MNBC leader and why would he want to stop MNBC board salaries, travel perks, spending of over $600,000.00 for legal and counsultants, etc.

    You see many of these same people see MNBC as a make work industry and have lost complete sight of the reasons organizations like MNBC were formed. Forget improving things, forget real support for Metis culture, forget infrastructure for Metis communities in BC, forget fighting for Metis rights because MNBC and their supporters have realized they get paid to keep it exactly the way it is.

    Take for example the Spirit Festival funding MNBC received this last February 2011. Under the former CCMC we raised concerns how this money would be spent. We recommended that this grant from the Province of $36,700 should have been divided equally among the communities, MNBC ignored this, their supporters like Daniel did not support this call. The results according to MNBC’s 2010-2011 financial statements reveal that MNBC spent over $25,000.00 on Consultants and Legal (page 73) of the $36,700.00 grant from the province. There was substantial travel as well. How did this benefit all of the 35 or so Metis communities in BC?

    I wonder what Metis communities leaders like Daniel (from Penticton) have done to explain this situation or ensure their communities have cultural resources to assist grassroots members.

    Take care Karen.

  7. Tim St. Denis September 5, 2011 at 7:48 pm #

    ” I ask you as individuals, have you ever risked being in debt in an attempt to secure your own financial stability ”
    My answer is yes I have but that was my choice. The Metis citizens had no choice in this matter as, if you remember Daniel, there was no consult.
    Before I received any of my business loans I first had to submit detailed business projection plans. I researched the market in the areas I set up my businesses. I chose my locations where the overhead would be low and never tried to set up when the economy was in a down turn.I made sure there was an abundance of clients in need and made sure my office size was not going to be excessive. I would not even look at a building that was over 25 years old.
    Most certainly I never signed any agreement until “all” and I mean “all” financing was in place.
    This situation has become grave indeed. The real sadness is that President like you were in a position to do something at the last MNGA and chose to stand idyll. When this all goes down some will be looking to see what happened. I, Daniel, will be looking at you.
    Regards
    Tim St. Denis

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