FNFTA Insights

Mississaugas of the CreditFiscal year 2024-2025

← 2023–24

First Nations / Band 120 · Ontario

Mississaugas of the Credit

Fiscal year 2024-2025 (year-end 2025-03-31) · 2,987 registered · 965 on reserve

Certified source-faithful captureCompatibility analytics availableFidelity audit passedNo OCROpinion: unqualifiedAuditor: MNP LLPReport dated 2025-09-23Prepared by: ManagementSource PDF hashed

At a glance · FY 2024-2025

Annual surplus (deficit)

$7.94M

$7,935,108

Total revenue

$67.9M

$67,928,884

Total expenses

$60.0M

$59,993,776

Accumulated surplus

$116M

$115,790,461

Total financial assets

$84.7M

$84,702,085

Total financial liabilities

$22.5M

$22,541,867

Net financial assets (debt)

$62.2M

$62,160,218

Total non-financial assets

$53.6M

$53,630,243

Revenue and expenses · FY 2024-2025

As published. Line items from the Statement of Operations, ranked by amount.

Revenue

  • Indigenous Services Canada (Note 20),$19.9M
  • Sales from business enterprises$17.4M
  • Other income$14.1M
  • Deferred revenue - prior year$13.3M
  • Toronto Purchase Trust revenue$7.61M
  • Increase in investment in government business enterprises$2.04M
  • Ontario First Nations Limited Partnership$2.00M
  • Ministry of Children, Community and Social Service$1.53M
  • Income from portfolio investments$1.31M
  • Community Trust Land Claim Fund revenue$1.05M
  • Ministry of Education$914K
  • Aboriginal Labour Force Development Circle$584K
  • Ministry of Health and Long-term Care$560K
  • Other federal$537K
  • Ministry of Transportation$75.3K
  • Canada Mortgage and Housing Corporation$60.9K
  • Repayment of funding-$27.4K
  • Deferred revenue - current year-$15.0M

Expenses

  • Business enterprises$16.5M
  • Education$9.53M
  • Community funds$8.97M
  • Council and administration$6.73M
  • Public works and housing$3.86M
  • Childcare$3.50M
  • Consultation and accommodation$3.19M
  • Social Services$2.66M
  • Amortization of tangible capital assets$2.45M
  • Health$1.50M
  • Economic development$525K
  • Land, membership and research$311K
  • Employment and training$245K

Reconciliation: revenue $67.9M − expenses $60.0M = $7.94M surplus

Data by fiscal year

Each row is a fiscal year; every cell opens that data product. Missing data is shown, not hidden.

Fiscal yearStatement tables, notes, schedulesOperationsFinancial positionHeadline figuresCouncil paySource PDF
2024-2025viewingViewViewViewViewPosted, not capturedPDF
2023-2024Posted, not captured———Posted, not capturedPDF
2022-2023Posted, not captured———Posted, not capturedPDF
2021-2022Posted, not captured———Posted, not capturedPDF
2020-2021Posted, not captured———Posted, not capturedPDF
2019-2020Posted, not captured———Posted, not capturedPDF
2018-2019Posted, not captured———Posted, not capturedPDF
2017-2018Posted, not captured———Posted, not capturedPDF
2016-2017Posted, not captured———9 rowsPDF
2015-2016Posted, not captured———Posted, not capturedPDF
2014-2015Posted, not captured———8 rowsPDF
2013-2014Posted, not captured———10 rowsPDF

Statements as published · FY 2024-2025

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Consolidated Statement of Financial Position

FY 2024-2025 · PDF page 5

FA − FL = Net FA: matchedNet FA + NFA = Acc. surplus: matched
20252024
Financial assets
Cash and cash equivalents34,772,98836,671,682
Restricted cash (Note 3)n32,751,3052,733,992
Accounts receivable (Note 4)n42,437,3154,873,487
Inventory for resale (Note 5)n5420,546379,947
Portfolio investments (Note 6)n623,446,26021,186,365
Due from First Nation members (Note 7)n78,419,6377,274,634
Due from Community Trust Land Claim fund (Note 8)n83,389,9433,312,556
Investment in government business enterprises (Note 9)n98,599,2476,555,241
Ottawa trust fund (Note 10)n10390,844354,450
Loans receivable (Note 11)n1174,00074,000
Total of financial assets84,702,08583,416,354
Financial liabilities
Accounts payable and accrued liabilities (Note 12)n124,112,9194,869,166
Deferred revenue (Note 13)n1315,032,56813,269,937
Loan payable (Note 11)n11169,177110,100
Toronto Purchase Trust funds payable (Note 14)n142,369,2382,369,238
Long-term debt (Note 15)n15857,965418,216
Total of financial liabilities22,541,86721,036,657
Net financial assets62,160,21862,379,697
Non-financial assets
Tangible capital assets (Note 17) (Schedule 1)n1753,478,59344,209,547
Prepaid expenses151,6502,579
Total non-financial assets53,630,24344,212,126
Accumulated surplus115,790,461106,591,823
Accumulated surplus is comprised of:
Accumulated operating surplus (Note 18)n18110,936,183103,001,075
Accumulated remeasurement gains4,854,2783,590,748
[Total accumulated surplus]115,790,461106,591,823

Consolidated Statement of Operations and Accumulated Operating Surplus

FY 2024-2025 · PDF page 6

Rev − Exp = Surplus: matched
2025 Budget (Note 19)(budget)20252024
Revenue
Indigenous Services Canada (Note 20), (Note 23)n20n2316,314,61119,908,17618,629,407
Canada Mortgage and Housing Corporation (Note 23)n23100,23160,891313,025
Aboriginal Labour Force Development Circle-⚑584,109312,924
Ministry of Children, Community and Social Service (Note 23)n231,556,5751,530,291940,902
Other federal (Note 23)n23-⚑537,2671,428,608
Ministry of Education (Note 23)n23911,022913,541913,542
Ministry of Health and Long-term Care (Note 23)n23666,871560,212642,940
Ministry of Transportation (Note 23)n23-⚑75,33072,900
Ontario First Nations Limited Partnership-⚑1,996,4131,628,406
Toronto Purchase Trust revenue-⚑7,611,4408,344,795
Community Trust Land Claim Fund revenue1,865,0341,048,6531,277,045
Sales from business enterprises17,000,00017,434,70017,521,058
Income from portfolio investments1,566,2461,307,9321,399,402
Transfer to other segments-⚑-⚑(1,465,150)
Increase in investment in government business enterprises (Note 9)n9-⚑2,044,0061,736,211
Other income15,083,26514,105,99012,996,311
Repayment of funding-⚑(27,436)(55,797)
Deferred revenue - prior year13,269,93713,269,93715,482,767
Deferred revenue - current year-⚑(15,032,568)(13,269,937)
[Total revenue]68,333,79267,928,88468,849,359
Program expenses (Schedule 2)
Council and administration7,294,1256,726,6565,656,376
Public works and housing7,992,4173,863,4433,450,538
Economic development1,056,918524,868433,036
Health3,668,6121,498,7551,397,008
Social Services3,018,7222,659,5822,215,250
Education12,097,2549,533,63910,253,765
Land, membership and research368,653310,722343,272
Childcare4,781,5473,501,1293,541,909
Employment and training-⚑245,395502,784
Consultation and accommodation4,605,7443,192,1402,960,422
Business enterprises16,000,00016,512,53417,262,814
Amortization of tangible capital assets-⚑2,451,8712,277,695
Community funds-⚑8,973,0429,105,790
[Total program expenses]60,883,99259,993,77659,400,659
Operating surplus7,449,8007,935,1089,448,700

Consolidated Statement of Operations and Accumulated Operating Surplus (Accumulated Operating Surplus)

FY 2024-2025 · PDF page 6

2025 Budget (Note 19)(budget)20252024
Operating surplus7,449,8007,935,1089,448,700
Accumulated operating surplus, beginning of year103,001,075103,001,07593,552,375
Accumulated operating surplus, end of year110,450,875110,936,183103,001,075

Consolidated Statement of Remeasurement Gains

FY 2024-2025 · PDF page 7

20252024
Accumulated remeasurement gains, beginning of year3,590,7482,418,522
Remeasurement gain - portfolio investments1,263,5301,172,226
Accumulated remeasurement gains, end of year4,854,2783,590,748

Consolidated Statement of Changes in Net Financial Assets

FY 2024-2025 · PDF page 8

2025 Budget (Note 19)(budget)20252024
Operating surplus7,449,8007,935,1089,448,700
Cash purchases of tangible capital assets(7,080,000)(11,720,917)(8,899,076)
Amortization of tangible capital assets-⚑2,451,8712,277,695
Change in prepaid expenditures-⚑(149,071)167,739
Loss on disposal of tangible capital assets-⚑-⚑70,365
Remeasurement gain - portfolio investments-⚑1,263,5301,172,226
Increase (decrease) in net financial assets369,800(219,479)4,237,649
Net financial assets, beginning of year62,379,69762,379,69758,142,048
Net financial assets, end of year62,749,49762,160,21862,379,697

Consolidated Statement of Changes in Cash Flows

FY 2024-2025 · PDF page 9

20252024
Cash provided by (used for) the following activities
Operating activities
Operating surplus7,935,1089,448,700
Non-cash items
Amortization2,451,8712,277,695
Net increase in investment in government business enterprises(2,044,006)(1,736,211)
Loss on disposal of tangible capital assets-⚑70,365
[Subtotal non-cash items]8,342,97310,060,549
Changes in working capital accounts
Accounts receivable2,436,1721,695,433
Prepaid expenses(149,071)167,739
Inventory for resale(40,599)84,585
Due from Community Trust Land Claim fund(77,387)303,323
Accounts payable and accrued liabilities(756,247)(633,658)
Deferred revenue1,762,631(2,212,830)
[Cash provided by operating activities]11,518,4729,465,141
Financing activities
Advance of long-term debt476,200-⚑
Repayment of long-term debt(36,451)(34,851)
Advances of loan payable59,077110,100
[Cash provided by financing activities]498,82675,249
Capital activities
Cash purchases of tangible capital assets(11,720,917)(8,899,076)
[Cash used for capital activities](11,720,917)(8,899,076)
Investing activities
Change in portfolio investments (net)(996,365)(943,949)
Repayments of loans receivable-⚑3,299,900
Advances to First Nations members, net of repayments(1,145,003)(1,360,532)
Increase in restricted cash - Social Housing reserves(17,313)(34,028)
Increase in Ottawa trust fund(36,394)(3,378)
Equity contribution to government business enterprise-⚑(500,000)
[Cash used for investing activities](2,195,075)458,013
Increase (decrease) in cash and cash equivalents(1,898,694)1,099,327
Cash and cash equivalents, beginning of year36,671,68235,572,355
Cash and cash equivalents, end of year34,772,98836,671,682

Schedules as published

Schedule 1 - Consolidated Schedule of Tangible Capital AssetsPDF p. 27
LandBuildings(other)Income Producing Properties(other)Income Producing Properties - CMHC(other)Infrastructure(other)Subtotal(other)
Cost
Balance, beginning of year555,26516,458,5039,707,9297,970,46425,093,19959,785,360
Acquisition of tangible capital assets7,168,3451,614,965-⚑-⚑142,1268,925,436
Transfer from construction in progress-⚑3,436,989-⚑-⚑-⚑3,436,989
Disposal of tangible capital assets
Balance, end of year7,723,61021,510,4579,707,9297,970,46425,235,32572,147,785
Accumulated amortization
Balance, beginning of year-⚑4,691,9603,920,328752,16711,904,62921,269,084
Annual amortization-⚑532,571253,978309,767751,5271,847,843
Accumulated amortization on disposals
Balance, end of year-⚑5,224,5314,174,3061,061,93412,656,15623,116,927
Net book value of tangible capital assets7,723,61016,285,9265,533,6236,908,53012,579,16949,030,858
Net book value of tangible capital assets 2024555,26511,766,5435,787,6017,218,29713,188,57038,516,276
Schedule 1 - Consolidated Schedule of Tangible Capital Assets (Continued)PDF p. 28
SubtotalEquipment and Furniture(other)Vehicles(other)Construction in Progress(other)Land Improvements(other)2025(other)2024(other)
Cost
Balance, beginning of year59,785,3605,721,1081,162,2852,950,619304,02869,923,40061,111,374
Acquisition of tangible capital assets8,925,436803,239292,0491,700,193-⚑11,720,9178,899,076
Transfer from construction in progress3,436,989-⚑-⚑(3,436,989)-⚑-⚑-⚑
Disposal of tangible capital assets-⚑-⚑-⚑-⚑-⚑-⚑(87,050)
Balance, end of year72,147,7856,524,3471,454,3341,213,823304,02881,644,31769,923,400
Accumulated amortization
Balance, beginning of year21,269,0843,284,782905,429-⚑254,55825,713,85323,452,843
Annual amortization1,847,843494,49389,266-⚑20,2692,451,8712,277,695
Accumulated amortization on disposals-⚑-⚑-⚑-⚑-⚑-⚑(16,685)
Balance, end of year23,116,9273,779,275994,695-⚑274,82728,165,72425,713,853
Net book value of tangible capital assets49,030,8582,745,072459,6391,213,82329,20153,478,59344,209,547
Net book value of tangible capital assets 202438,516,2762,436,326256,8562,950,61949,47044,209,547⚑
Schedule 2 - Consolidated Schedule of Expenditures by ObjectPDF p. 29
20252024
Consolidated expenditures by object
Administration2,860,3382,559,197
Advertising359,700304,809
Amortization2,451,8712,277,695
Community wellness and estate policy expenditures7,978,8028,111,500
Contracted services731,346756,890
General supplies830,907546,562
Insurance346,427228,708
Inventory15,777,88815,942,132
Management fees-⚑660,000
Ontario First Nation Limited Partnership expenditures17,07124,844
Other457,203318,658
Per capita distribution791,189851,571
Professional fees3,443,1483,214,807
Rental294,328317,730
Repairs and maintenance2,239,9742,734,106
Salaries and benefits14,987,48514,304,955
Telephone235,336152,997
Training857,258816,390
Travel748,469951,377
Tuition allowance3,035,8722,940,347
Utilities977,148838,233
Welfare payments572,016547,151
[Total]59,993,77659,400,659
Schedule 3 - Consolidated Schedule of Revenue and Expenditures and Accumulated SurplusPDF p. 30
SchISC revenue(other)Other revenue(other)Total revenue(other)Total expenditures(other)Current surplus (deficit)(other)Prior year surplus (deficit)(other)
Segment schedules
Council and administration42,682,3802,392,2655,074,6456,726,656(1,652,011)285,110
Public works and housing52,838,0941,487,8024,325,8963,863,443462,4534,571,197
Economic development6170,129417,351587,480524,86862,612(28,393)
Health71,088,119100,4061,188,5251,498,755(310,230)131,661
Social Services83,561,2742,856,8196,418,0932,659,5823,758,511484,739
Education99,187,864783,0099,970,8739,533,639437,234(1,233,502)
Land, membership and research1093,85026,609120,459310,722(190,263)132,964
Childcare11286,4663,332,2553,618,7213,501,129117,592215,856
Employment and training12-⚑332,275332,275245,39586,880(5,857)
Consultation and accommodation13-⚑5,648,9695,648,9693,192,1402,456,8292,665,334
Business enterprises14-⚑19,478,70619,478,70616,512,5342,966,1721,994,455
Amortization of tangible capital assets15-⚑-⚑-⚑2,451,871(2,451,871)(2,277,695)
Community funds16-⚑11,164,24211,164,2428,973,0422,191,2002,512,830
[Total]⚑19,908,17648,020,70867,928,88459,993,7767,935,1089,448,699
Schedule 4 - Consolidated Schedule of Revenue and Expenses - Council and administrationPDF p. 31
20252024
Revenue
Indigenous Services Canada2,682,3802,334,676
Ministry of Children, Community and Social Service750,525-⚑
Income from portfolio investments977,2611,117,067
Other income2,132,9181,481,067
Deferred revenue - prior year7,568,4988,445,886
Deferred revenue - current year(9,009,501)(7,568,498)
Other federal-⚑94,555
Repayment of funding(27,436)(19,198)
[Total revenue]5,074,6455,885,555
Expenses
Administration692,030432,579
Contracted services570-⚑
Ontario First Nations Limited Partnership expenditures-⚑400
Insurance137,60178,354
Professional fees2,679,8742,119,396
Rental41,47942,106
Repairs and maintenance281,401123,034
Salaries and benefits2,160,3072,379,397
Recovery of general supplies(320,933)(326,606)
Telephone146,87055,570
Training271,384108,934
Travel166,172314,534
Utilities8,3581,399
Advertising276,585204,844
Other184,95866,504
[Total expenses]6,726,6565,600,445
(Deficit) surplus(1,652,011)285,110
Schedule 5 - Consolidated Schedule of Revenue and Expenses - Public works and housingPDF p. 32
20252024
Revenue
Indigenous Services Canada2,838,0942,055,887
Canada Mortgage and Housing Corporation60,891313,025
Ministry of Transportation75,33072,900
Other income1,964,7621,912,456
Deferred revenue - prior year185,0893,012,051
Deferred revenue - current year(848,270)(185,089)
Other federal50,000840,505
[Total revenue]4,325,8968,021,735
Expenses
Administration12,3769,567
General supplies3,6525,379
Insurance139,83289,817
Other42,43618,099
Professional fees128,198129,183
Rental115,525115,722
Repairs and maintenance1,405,2441,223,524
Salaries and benefits1,345,3881,279,541
Telephone9,99811,276
Training41,7853,835
Travel3,5354,501
Utilities615,474560,094
[Total expenses]3,863,4433,450,538
Surplus462,4534,571,197
Schedule 6 - Consolidated Schedule of Revenue and Expenses - Economic developmentPDF p. 33
20252024
Revenue
Indigenous Services Canada170,129167,045
Other income417,351237,598
Transfer to other segments-⚑(1,465,150)
Deferred revenue - prior year-⚑1,465,150
[Total revenue]587,480404,643
Expenses
Administration3,6371,435
Advertising2003,216
Insurance30,87628,363
Other35,41524,589
Professional fees9,92919,426
Repairs and maintenance138,68557,613
Salaries and benefits164,045161,342
Telephone1,6521,627
Training263113
Travel1,8003,061
Utilities138,366132,251
[Total expenses]524,868433,036
Surplus (deficit)62,612(28,393)
Schedule 7 - Consolidated Schedule of Revenue and Expenses - HealthPDF p. 34
20252024
Revenue
Indigenous Services Canada1,088,119908,587
Ministry of Children, Community and Social Service135,39189,543
Ministry of Health and Long-term Care471,500554,228
Other income29,75231,392
Deferred revenue - prior year425,577370,496
Deferred revenue - current year(961,814)(425,577)
[Total revenue]1,188,5251,528,669
Expenses
Administration22,28022,751
Advertising5981,129
Contracted services53,53337,746
General supplies159,525106,806
Insurance5,9315,923
Other(1,325)44,793
Professional fees44,78335,874
Rental10,53316,545
Repairs and maintenance69,76424,419
Salaries and benefits867,693838,753
Telephone15,32916,417
Training172,874177,417
Travel39,65226,895
Utilities37,58541,540
[Total expenses]1,498,7551,397,008
(Deficit) surplus(310,230)131,661
Schedule 8 - Consolidated Schedule of Revenue and Expenses - Social ServicesPDF p. 35
20252024
Revenue
Indigenous Services Canada3,561,2744,022,325
Ministry of Children, Community and Social Service553,613851,359
Ministry of Health and Long-term Care88,71288,712
Other income887,948725,352
Deferred revenue - prior year3,908,700977,477
Deferred revenue - current year(2,582,154)(3,908,700)
Repayment of funding-⚑(604)
[Total revenue]6,418,0932,755,921
Expenses
Administration36,17330,466
Contracted services54,26770,372
General supplies360,90377,875
Insurance14,82612,467
Other-⚑75
Professional fees14,86110,036
Rental65,00067,018
Repairs and maintenance24,06820,468
Salaries and benefits1,172,1321,107,264
Telephone15,47717,701
Training240,334218,837
Travel24,40833,330
Utilities65,11758,122
Welfare payments572,016547,151
[Total expenses]2,659,5822,271,182
Surplus3,758,511484,739
Schedule 9 - Consolidated Schedule of Revenue and Expenses - EducationPDF p. 36
20252024
Revenue
Indigenous Services Canada9,187,8648,848,098
Ministry of Children, Community and Social Service90,762-⚑
Other income307,330237,594
Deferred revenue - prior year584,790519,361
Deferred revenue - current year(199,873)(584,790)
[Total revenue]9,970,8739,020,263
Expenses
Administration1,484,9781,488,987
Contracted services4,55431,954
Ontario First Nation Limited Partnership expenditures368,944
Insurance5,0694,125
Professional fees381,818733,450
Rental2,85526,873
Repairs and maintenance167,172675,074
Salaries and benefits3,620,6913,283,476
General supplies170,347307,221
Telephone13,19716,786
Training56,228102,292
Travel441,028510,053
Tuition allowance3,035,8722,940,347
Utilities86,59412,951
Advertising3,84421,080
Other59,35690,152
[Total expenses]9,533,63910,253,765
Surplus (deficit)437,234(1,233,502)
Schedule 10 - Consolidated Schedule of Revenue and Expenses - Land, membership and researchPDF p. 37
20252024
Revenue
Indigenous Services Canada93,85092,147
Other income120,910367,772
Deferred revenue - prior year-⚑52,312
Deferred revenue - current year(94,301)-⚑
Repayment of funding-⚑(35,995)
[Total revenue]120,459476,236
Expenses
Administration72,61956,194
Insurance249216
(Recovery of) other(1,804)488
Professional fees25,17223,072
Rental9,09010,315
Repairs and maintenance4,9636,021
Salaries and benefits189,902231,241
Telephone6,6807,957
Travel (recovery)125(785)
Utilities3,7268,553
[Total expenses]310,722343,272
(Deficit) surplus(190,263)132,964
Schedule 11 - Consolidated Schedule of Revenue and Expenses - ChildcarePDF p. 38
20252024
Revenue
Indigenous Services Canada286,466163,291
Ministry of Education913,541913,542
Other income2,463,8212,219,023
Deferred revenue - prior year406,296374,657
Deferred revenue - current year(938,670)(406,296)
Other federal487,267493,548
[Total revenue]3,618,7213,757,765
Expenses
Administration208,875172,465
Advertising75,50072,291
General supplies367,623305,178
Insurance10,5948,143
Other1,7941,263
Professional fees71,24363,575
Rental9,5104,153
Repairs and maintenance96,571554,284
Salaries and benefits2,527,9262,262,999
Telephone5,9614,047
Training56,99244,722
Travel59,44441,606
Utilities9,0967,183
[Total expenses]3,501,1293,541,909
Surplus117,592215,856
Schedule 12 - Consolidated Schedule of Revenue and Expenses - Employment and trainingPDF p. 39
20252024
Revenue
Indigenous Services Canada-⚑37,351
Aboriginal Labour Force Development Circle584,109312,924
Other income(442,821)72,262
Deferred revenue - prior year190,987265,377
Deferred revenue - current year-⚑(190,987)
[Total revenue]332,275496,927
Expenses
Administration-⚑109,875
Salaries and benefits242,407259,051
Training362120,249
Travel2,62613,609
[Total expenses]245,395502,784
Surplus (deficit)86,880(5,857)
Schedule 13 - Consolidated Schedule of Revenue and Expenses - Consultation and accommodationPDF p. 40
20252024
Revenue
Other income6,046,9545,625,756
Deferred revenue - current year(397,985)-⚑
[Total revenue]5,648,9695,625,756
Expenses
Administration118,79020,685
Contracted services618,422616,818
General supplies793-⚑
Insurance1,4491,300
Other13,3683,428
Professional fees43,95941,642
Rental33,58130,705
Repairs and maintenance26,39921,400
Salaries and benefits2,287,6352,151,623
Telephone19,23219,921
Training17,03639,992
Travel6,1754,030
Utilities5,3018,878
[Total expenses]3,192,1402,960,422
Surplus2,456,8292,665,334
Schedule 14 - Consolidated Schedule of Revenue and Expenses - Business enterprisesPDF p. 41
20252024
Revenue
Sales from business enterprises17,434,70017,521,058
Increase in investment in government business enterprises2,044,0061,736,211
[Total revenue]19,478,70619,257,269
Expenses
Administration188,880195,895
Advertising2,9732,249
General supplies88,99770,709
Inventory purchases15,777,88815,942,132
Management fees-⚑660,000
Rental6,7554,293
Repairs and maintenance25,70728,270
Salaries and benefits409,359349,768
Telephone9401,694
Travel3,504542
Utilities7,5317,262
[Total expenses]16,512,53417,262,814
Surplus2,966,1721,994,455
Schedule 15 - Consolidated Schedule of Revenue and Expenses - Amortization of tangible capital assetsPDF p. 42
20252024
Expenses
Amortization2,451,8712,277,695
Deficit(2,451,871)(2,277,695)
Schedule 16 - Consolidated Schedule of Revenue and Expenses - Community fundsPDF p. 43
20252024
Revenue
Income from portfolio investments330,671282,335
Ontario First Nation Limited Partnership revenue1,996,4131,628,406
Toronto Purchase Trust revenue7,611,4408,344,795
Community Trust Land Claim Fund revenue1,048,6531,277,045
Other income177,06586,039
[Total revenue]11,164,24211,618,620
Expenses
Administration19,70018,298
Community wellness and estate policy expenditures7,978,8028,111,500
Ontario First Nation Limited Partnership expenditures17,03515,500
Other123,00569,267
Per capita distribution791,189851,571
Professional fees43,31139,154
Salaries and benefits-⚑500
[Total expenses]8,973,0429,105,790
Surplus2,191,2002,512,830

Notes to the financial statements

Verbatim, as published. Statement lines above link to their notes.

Note 3Restricted cash

20252024
Social housing reserves - externally restricted382,067364,754
Toronto Purchase Trust funds - internally restricted2,369,2382,369,238
[Total]2,751,3052,733,992
Note 4Accounts receivable

20252024
Federal Government
Indigenous Services Canada300,7401,774,383
Province of Ontario
Ministry of Citizenship and Multiculturalism12,16612,166
Ministry of Children, Community, and Social Service-⚑19,613
Ministry of Education11,35011,350
Ministry of Health and Long-term Care1,201126,947
Ontario First Nations Limited Partnership1,230,1671,085,372
[Subtotal Province of Ontario]1,254,8841,255,448
Other
Other receivables956,2711,016,989
Mississaugas of the Credit Community Trust177,039240,550
Metrolinx-⚑427,818
Canada Mortgage and Housing Corporation-⚑423,549
[Subtotal Other]1,133,3102,108,906
Gross accounts receivable2,688,9345,138,737
Less: Allowance for doubtful accounts on other receivables(251,619)(265,250)
[Total]2,437,3154,873,487
Note 5Inventory for resale

20252024
Gas34,10451,825
Tobacco375,220319,251
General11,2228,871
[Total]420,546379,947
Note 6Portfolio investments

2025 Cost2025 Market(other)2024 Cost(other)2024 Market(other)
Equities7,866,10713,255,4857,992,17112,429,820
Pooled funds10,725,87510,190,7759,603,4468,756,545
[Total]18,591,98223,446,26017,595,61721,186,365
Note 7Due from First Nation Members

20252024
New homes7,642,9736,438,518
Renovation776,664836,116
[Total]8,419,6377,274,634
Note 9Investment in government business enterprises

2025 Investment cost, beginning of year2025 Share of surplus (deficit)(other)2025 Equity contribution(other)2025 Total investment(other)
8392692 Canada Inc.1,279,32460,822-⚑1,340,146
Mississaugas of the Credit Business LP3,167,1961,873,672-⚑5,040,868
Mississaugas of the Credit Business Corporation13,431(2,543)-⚑10,888
Nanticoke Corporation2,095,290112,055-⚑2,207,345
[Total]6,555,2412,044,006-⚑8,599,247
2024 Investment cost, beginning of year2024 Share of surplus (deficit)(other)2024 Equity contribution(other)2024 Total investment(other)
8392692 Canada Inc.827,155452,169-⚑1,279,324
Mississaugas of the Credit Business LP1,507,0411,160,155500,0003,167,196
Mississaugas of the Credit Business Corporation17,201(3,770)-⚑13,431
Nanticoke Corporation1,967,633127,657-⚑2,095,290
[Total]4,319,0301,736,211500,0006,555,241
8392692 Canada Inc. March 31 2025MCB-LP December 31 2024(other)MCBC December 31 2024(other)Nanticoke Corporation March 31 2025(other)
Assets
Cash1,340,1446,796,193-⚑745,699
Accounts receivable-⚑2,187,745-⚑-⚑
Contract assets-⚑988,029-⚑-⚑
Investments-⚑-⚑-⚑1,464,647
Due from MCBC-⚑6,617-⚑-⚑
Other assets-⚑438,678304-⚑
Total assets1,340,14410,417,2623042,210,346
Accounts payable and accruals-⚑3,947,3793,5007,501
Loan payable to MCB-LP-⚑-⚑6,617-⚑
Deferred revenue-⚑11,500-⚑-⚑
Total liabilities-⚑3,958,87910,1177,501
Accumulated surplus (deficit)1,340,1446,458,383(9,813)2,202,845
Total revenue60,82221,073,131187113,599
Total expenses-⚑17,897,1232,7301,544
Annual surplus (deficit)60,8223,176,008(2,543)112,055
Note 10Ottawa trust fund

20252024
Capital Trust
Balance, beginning and end of year30,47330,473
Revenue Trust
Balance, beginning of year323,977320,599
Interest36,3943,378
Balance, end of year360,371323,977
[Total]390,844354,450
Note 11Loans receivable (payable)

20252024
Loans receivable
SN Technologies Corp., unsecured, bearing interest at 10% per annum, repayable from either the proceeds of the next purchase by a New York State School District or any new purchase or from the proceeds of a capital raise or sale of equity in SN Tech.74,00074,000
Loans payable
Mississaugas of the Credit Business Corporation, non-interest bearing, unsecured and no set terms of repayment.(169,177)(110,100)
Note 12Accounts payable and accrued liabilities

20252024
Trade accounts payable3,648,4794,366,806
Accrued salaries and benefits payable392,046399,763
Other payable72,394102,597
[Total]4,112,9194,869,166
Note 13Deferred revenue

Balance, beginning of yearContributions received(other)Contributions recognized(other)Balance, end of year(other)
Indigenous Services Canada12,154,54119,908,17619,938,12112,124,596
Health Canada425,577-⚑425,577-⚑
Community Trust Land Claim Fund-⚑1,048,653890,544158,109
Other689,8192,749,863689,8192,749,863
[Total]13,269,93723,706,69221,944,06115,032,568
Note 14Toronto Purchase Trust funds payable

20252024
Wellness policy payments (i)688,400688,400
Amounts owing to members turning 18 years old (ii)720,838720,838
Initial payment upon agreement finalization (iii)960,000960,000
[Total]2,369,2382,369,238
Note 15Long-term debt

20252024
CMHC loan payable, guaranteed by Indigenous Services Canada, to be repaid over 20 years with interest at 1.13% per annum and monthly blended payments of $3,319, a renewal date of June 1, 2026, due 2035.382,903418,216
CMHC loan payable, guaranteed by Indigenous Services Canada, to be repaid over 25 years with interest at 3.23% per annum and monthly blended payments of $2,310, a renewal date of February 1, 2030, due 2050.475,062-⚑
[Total]857,965418,216
Amount
202646,353
202747,148
202847,962
202948,793
203049,643
Note 18Accumulated operating surplus

20252024
Externally restricted
Ottawa trust fund390,844354,450
Social housing reserve488,920599,504
[Subtotal]879,764953,954
Unrestricted surplus
Unappropriated operating surplus48,836,54551,700,549
Invested in tangible capital assets52,620,62843,791,331
Invested in government business enterprises8,599,2466,555,241
[Subtotal]110,056,419102,047,121
[Total]110,936,183103,001,075
Note 23Government transfers

Operating transfersDeferrals(other)2025(other)2024(other)
Federal government transfers
Indigenous Services Canada19,908,176(12,124,596)7,783,5806,474,866
Health Canada-⚑-⚑-⚑(425,577)
Canada Mortgage and Housing Corporation60,891-⚑60,891313,025
Federal Economic Development Agency50,000-⚑50,000935,060
Employment and Social Development Canada487,267-⚑487,267493,548
[Subtotal Federal government transfers]20,506,334(12,124,596)8,381,7387,790,922
Provincial government transfers
Ministry of Children, Community and Social Services1,530,291-⚑1,530,291940,902
Ministry of Education913,541-⚑913,541913,542
Ministry of Health and Long-term Care560,212-⚑560,212642,940
Ministry of Transportation75,330-⚑75,33072,900
[Subtotal Provincial government transfers]3,079,374-⚑3,079,3742,570,284
[Total]23,585,708(12,124,596)11,461,11210,361,206
Note 25Financial Instruments (Fair Value of Financial Instruments)

Fair Value March 31 2025Level 1 March 31 2025(other)Level 2 March 31 2025(other)Level 3 March 31 2025(other)
Financial assets
Portfolio investments - equities13,255,48513,255,485-⚑-⚑
Portfolio investments - pooled funds10,190,77510,190,775-⚑-⚑
Fair Value March 31 2024Level 1 March 31 2024(other)Level 2 March 31 2024(other)Level 3 March 31 2024(other)
Financial assets
Portfolio investments - equities12,429,82012,429,820-⚑-⚑
Portfolio investments - pooled funds8,756,5458,756,545-⚑-⚑

Chief and council pay · FY 2024-2025

Filed under the FNFTA as the Schedule of Remuneration and Expenses.

A remuneration schedule is posted for this year but is withheld from the current certified release. The source PDF is linked under Sources below.

Specific land claims

All years, from the ISC specific-claims reporting centre, not the financial statement.

1923 Williams TreatyOther—

File Closed

Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

200 AcreSettled$12,848,134

Settlement Report on Specific Claims

Settled 1997/03/26 · Source: Settlement Report on Specific Claims · as of 2026/06/19 ISC source

Brant Tract PurchaseSettled$800,000

Settlement Report on Specific Claims

Settled 2010/10/08 · Source: Settlement Report on Specific Claims · as of 2026/06/19 ISC source

Crawford PurchaseConcluded—

No Lawful Obligation Found

Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Damages to Wild RiceConcluded—

No Lawful Obligation Found

Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Gunshot TreatyConcluded—

No Lawful Obligation Found

Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Islands in the Trent SystemSettled—

Settled through Negotiations

Settled 2012/10/07 · Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Lake Ontario LakeshoreConcluded—

No Lawful Obligation Found

Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Navy IslandConcluded—

No Lawful Obligation Found

Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Niagara Treaty LandsConcluded—

No Lawful Obligation Found

Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Railway Claim - Loss of UseSettled$289,800

Settlement Report on Specific Claims

Settled 1986/03/27 · Source: Settlement Report on Specific Claims · as of 2026/06/19 ISC source

Thurlow PurchaseSettled—

Settled through Negotiations

Settled 2010/03/04 · Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Toronto PurchaseConcluded—

No Lawful Obligation Found

Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Toronto PurchaseSettled$144,200,000

Settlement Report on Specific Claims

Settled 2010/10/08 · Source: Settlement Report on Specific Claims · as of 2026/06/19 ISC source

Treaty 22 and Treaty 23 ReserveInvited to Negotiate—

Active

Filed 2019/09/25 · Source: Status Report on Specific Claims · as of 2026/06/19 ISC source

Total reported settlements (15 claims)—

Community context

Governance

Chief
MARGARET ANN SAULT (term to 2027-12-15)
Council
7 councillors
Election system
Indian Act
Tribal council
None recorded
Show council
  • IRMA BLANCHE FERRELL Councillor
  • JESSE JAMES HERKIMER Councillor
  • JAI RIKI MALLORY KING-GREEN Councillor
  • LESLIE JOAN MARACLE Councillor
  • ASHLEY MARIE SAULT Councillor
  • FAWN DAVINA SAULT Councillor
  • LARRY SAULT Councillor

Reserves and location

Reserves
1 reserves
Region
ONTARIO · near Toronto
Show reserves
  • NEW CREDIT 40A · 2,393 ha

Population

Registered
2,987
On reserve
965
As of
May, 2026
Show full breakdown
  • On own reserve: 965 · 460 M / 505 F
  • On other reserves: 44 · 17 M / 27 F
  • On own Crown land: 0 · 0 M / 0 F
  • On other band Crown land: 0 · 0 M / 0 F
  • On no band Crown land: 1 · 1 M / 0 F
  • Off reserve: 1,977 · 955 M / 1,022 F

Registry facts from the ISC First Nation profiles; land and coordinates from federal open data.