Ask Yourself How?

(Vancouver, BC) The BC Métis Federation is asking Métis people, Governments, and industry to consider questions related to Métis Nation British Columbia (MNBC) this week. MNBC leaders and supporters continue to use divisive tactics regarding the right of BC Métis Federation to represent their members with government and industry. MNBC continues to refuse to find more effective solutions together for the betterment of all Métis they claim to represent. As such BC Métis Federation is asking people to as ponder this situation.

In June of 2012 BC Metis Federation secured an independent legal opinion from a law firm in Vancouver to seek about MNBC at that time. The legal opinion speaks for itself and is relevant today. This letter is relevant today in terms of the notion that MNBC/MPCBC remains “functionally bankrupt”. In fact, MNBC/MPCBC is worse off financially than they were at the time BC Metis Federation secured this independent legal opinion in 2012.

According to the MNBC/MPCBC financial statements as of March 31st, 2016 (4 years after the legal opinion) this non-profit organization has accumulated stated insolvency of $2,793,799.00 with outstanding long term debt of over $2.2 million which does not show up on the insolvency but will if not paid during the balance of the long term loan payment terms. This means if MNBC could not pay the $2.2 million this amount would be added to the current stated insolvency.

Click here to view the MNBC/MPCBC 2016 year end financial statements.

BC Métis Federation has been critical of government and industry for the years of ignoring such serious financial challenges of MNBC/MPCBC. The current financial state of MNBC/MPCBC was self imposed by poor business decisions such as the improper purchase of the school in 2009, overspending on MNBC/MPCBC administration, failed Meet-so Catering business, and other financial decisions by their leadership and management.

The question to be asked is how is and how will MNBC/MPCBC address? The only way MNBC/MPCBC pays for the current organizational debt (insolvency) is with savings from government funded programs and industry investments. Ask yourself how does MNBC/MPCBC pay the monthly debt charges? For example, the long-term debt in 2017 requires $180,000, in 2018 requires $180,000, 2019 requires $440,000 and these payments are required until 2028. This only addresses the stated long term debt as per note 7 in their financial statements. This does NOT address the stated organizational debt (insolvency) of $2.793, 799.00. This will require MNBC/MPCBC to save in other ways to pay this off.

Efforts were made to address this serious matter for years and governments and industry stood back. Now MNBC/MPCBC consolidates their funding and creates savings to pay for the foolish business decisions in 2009 and following years. There is no proper support for industry consultation or capacity for MNBC/MPCBC Métis members or their communities. Worse yet MNBC/MPCBC has no stated debt recovery plan or explanation how they have been currently paying these enormous financing costs. Ask yourself how? How are they paying for this? From which program funds?

BC Métis Federation President Henry concluded; “It is astonishing that governments and industry have ignored this major issue. There is an agenda to prop up MNBC/MPCBC at all costs but we will make sure people do not forget how we got here. BC Metis Federation offers a better way forward and I hope Métis people ask MNBC/MPCBC management and leaders simply how are they paying for all of this?”

-30-

Media Inquiries:
Keith Henry, President
BC Métis Federation
#300-3665 Kingsway Vancouver, BC V5R 5W2
Office 1-604-638-7220 Cell 1-778-388-5013
Email k.henry@bcmetis.com

You can now follow BC Métis Federation President Keith Henry on twitter @keithhenryMetis
You can follow BC Métis Federation on twitter @BCMétis

Click here to view the BHT Legal Opinion from June 2012 Click here to view this press release as a downloadable PDF

4 Responses to Ask Yourself How?

  1. Sharon Eyford May 29, 2017 at 10:46 am #

    Thank you BCMF for all your information above. I am truly concerned with what will happen in

    the future for MNBC? as you have. What are all the Metis followers of MNBC going to do if and

    when this catastorphy ever comes down to the nitty-gritty of paying back this money? I hope

    that this new MNBC, will have the for sight to try and fix what needs to be fixed and not let this

    ever happen again. This cannot go on forever, I hope !!!!

    Concerned,

    Metis Elder

    • Keith Henry May 29, 2017 at 2:38 pm #

      Thanks Sharon,

      Appreciate the note. So far MNBC has already paid hundreds of thousands of dollars for the insolvency and long term debt, not to mention what they face ahead until 2028 according to their own financial statements. Do people readlize despite any alleged progress to date on repayments, another approximate $5 million faces MNBC ahead.

      The question is how is MNBC paying for this to date? What money?

      Likely never transparent but we will keep pushing.

      Thank you

      Keith Henry
      President

  2. Keith Henry May 29, 2017 at 3:03 pm #

    Sharon,

    Further to my point here is how MNBC appears to reduce their insolvency and long term debt as an example as of their stated March 31st, 2016 statements:

    1. Programs surplus of $646,642 (page 8). But the large majority is from industry funded projects. The question is are these funds intended to pay for future required activities? If not does MNBC retain these funds to pay down their insolvency. That is what is assumed by the manner in which MNBC has presented their financial position as of March 31st, 2016.

    2. Long term debt was reduced from $3,850,000 as of March 31st, 2015 to $3,395,000.00 as of Match 31st, 2016 (page 16). Again how did they do this? Where did the actual cash come from to pay for the loan payments?

    Just want to point out these specific items to point out MNBC is already re-profiling cash from government and industry partners.

    This was one of our major issues in 2009 and has not been addressed since by MNBC.

    The question is how and what is the impacts?

  3. Metis citizen June 1, 2017 at 5:40 pm #

    I cannot see how this debt can be repaid… perhaps?

    1. Program dollars intended for Metis communities. Although when final reports go into the federal government I am unsure how this would read on the books if the program dollars went to debts not intended for such purpose.

    2. Industry? Funds intended for actual consultation for the Metis communities are going into general revenues. It is well known that there is a lack of consultation on these large projects in our communities, as they are receiving funds intended for such.

    As a point we have never seen any consultation in our communities as to Transcanada, Towerbirch, Spectra, Kinder Morgan and other projects listed in this audit, these funds are being used for other purposes besides consultation in our communities.

Leave a Reply