BCMF Financial Review September 2011

The British Columbia Métis Federation (BCMF) is pleased to provide Métis people and stakeholders the following document entitled BCMF Financial Review September 2011. BCMF is immediately calling on governments to complete a forensic audit of the Métis Nation British Columbia (MNBC) and through their nonprofit corporate secretariat the Métis Provincial Council of British Columbia based on the findings contained in the BCMF Financial Review September 2011.

BCMF undertook an extensive review of the 2010-2011 Métis Nation British Columbia (MNBC) Financial Statements for the period of April 1st, 2010 – March 31st, 2011. The BCMF Financial Review September 2011 was completed by a Chartered Accountant (CA) with support from a Certified General Accountant (CGA) and BCMF President Keith Henry who has over 15 years experience of managing Aboriginal nonprofit corporations. It is important to note the BCMF Financial Review September 2011 provides a perspective based solely on the information contained within the MNBC documentation and is therefore subject to further clarification by the MNBC themselves.

The BCMF Financial Review September 2011 includes an appendix of charts to provide a vision description of the four parts of the focus of this review:

  1. Auditor’s Written Letter
  2. MNBC Balance Sheet
  3. MNBC Income Statement
  4. MNBC Cash Flows

The BCMF completed this work to provide our analysis, raise important questions and secure justification for an immediate forensic audit of the MNBC and calls for government partners who contract MNBC to implement immediate third party financial management. BCMF believes drastic measures must be taken to protect the programs and services for Métis people delivered by the MNBC until a forensic audit that cross references all funding partners is completed.

BCMF strongly encourages Métis people and stakeholders to review this document carefully and ask the suggested questions at any future meeting with MNBC board members, Métis Chartered Community leaders, or MNBC management. MNBC has no clear plan of action to correct the situation and the 2010-2011 MNBC Financial Statements present a much worse financial scenario for the future of this corporation.

Please note this document will refer only to the “MNBC” in order not to confuse the reader although MNBC operates their contracts through the secretariat the nonprofit corporation Métis Provincial Council of British Columbia.

Downloads:

Click here to download and review the BCMF Financial Review September 2011 in PDF format.

 

One Response to BCMF Financial Review September 2011

  1. Harold Morin September 13, 2011 at 10:22 am #

    After reviewing the 2010-2011 MNBC financial statements and the detailed financial review completed by the British Columbia Metis Federation, it is very clear that the Metis Nation of British Columbia is financially insolvement and IS HEADED TOWARD PENDING BANKRUPTCY.

    It is equally disturbing that their have been dramatic reductions in employment and training funds provided for the use of Metis citizens seeking sponsorship funding. This is a red flag in that direct program services to Metis citizens are being affected by the severe financial crisis facing the MNBC. There is no budget for salaries, travel, and expenses for MNBC Board members. Yet, they continue to pay themselves, when it is clear there no existing funding base to support their activities.

    Too make matters worse there are many questions that must be answered by those participating in these meetings, consultations, etc. There are no program reports by the Board of Directors that clearly explains what they have accomplished in these meetings. How do they benefit our Nation? What has been accomplishjed? There are many pressing questions that must be answered.

    It is becoming very clear to Metis citizens that the MNBC Board of Directors are deferring all kinds of payments in order to ensure their PERSONAL financial survival to the end of their terms. They will continue to receive their salaries and travel at the expense of REDUCING FUNDING for direct programs and services to Metis citizens. There is no doubt they are increasing the MNBC financial deficit. This will virtually guarantee that the next group of elected MNBC Directors will inherit an organization that is insolvent and bankrupt.

    The MNBC Board of Directors are fools to believe that our Nation will just let them walk away from the financial mess they have left after their term expires. They cannot simply abdicate their fiduciary responsibility without consequences.

    There are many Metis leaders within our movement that will ensure that this group of MNBC Directors are brought to justice and will pay for theiR misdeeds. They can run, but they can’t hide. Their time will come.

    In reviewing the analysis completed by the BCMF, there is clear justification in calling upon governements and other funders to insist on a forensic audit of the MNBC. Where there is smoke, there is fire. There is certainly no shortage of red flags that have and continue to pop up.

    A FORENSIC AUDIT WILL ANSWER A LOT OF QUESTIONS.

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