First Nations / Chippewas of Georgina Island / 2024-2025
Audited consolidated financial statementsFY 2024-2025
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Statements as published · FY 2024-2025
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Consolidated Statement of Financial Position
FY 2024-2025 · PDF page 6
FA − FL = Net FA: matchedNet FA + NFA = Acc. surplus: matched
| 2025 | 2024 | |
|---|---|---|
| FINANCIAL ASSETS: Cash (Note 2)n2 | 39,104,662 | 41,391,204 |
| FINANCIAL ASSETS: Portfolio investments (Note 3)n3 | 183,284,118 | 180,133,837 |
| FINANCIAL ASSETS: Receivables (Note 5)n5 | 3,144,221 | 6,334,933 |
| FINANCIAL ASSETS: Inventories for resale (Note 6)n6 | 1,230,993 | 908,980 |
| FINANCIAL ASSETS: Mortgages receivable (Note 7)n7 | 16,191 | 19,412 |
| FINANCIAL ASSETS: Net investment in leases (Note 8)n8 | 618,626 | 663,991 |
| [total FINANCIAL ASSETS] | 227,398,811 | 229,452,357 |
| FINANCIAL LIABILITIES: Payables and accruals (Note 9)n9 | 7,918,226 | 6,499,719 |
| FINANCIAL LIABILITIES: Deferred revenue (Note 10)n10 | 12,164,483 | 19,713,222 |
| FINANCIAL LIABILITIES: Long-term debt (Note 11)n11 | 6,669,989 | 6,940,383 |
| FINANCIAL LIABILITIES: Asset retirement obligations (Note 13)n13 | 323,300 | 323,300 |
| [total FINANCIAL LIABILITIES] | 27,075,998 | 33,476,624 |
| NET FINANCIAL ASSETS | 200,322,813 | 195,975,733 |
| NON-FINANCIAL ASSETS: Construction-in-progress (Note 14)n14 | 23,657,803 | 4,465,903 |
| NON-FINANCIAL ASSETS: Prepaid expenses | 33,026 | 40,818 |
| NON-FINANCIAL ASSETS: Tangible capital assets (Note 14)n14 | 73,605,618 | 69,630,326 |
| [total NON-FINANCIAL ASSETS] | 97,296,447 | 74,137,047 |
| ACCUMULATED SURPLUS (Note 18)n18 | 297,619,260 | 270,112,780 |
Consolidated Statement of Operations
FY 2024-2025 · PDF page 7
Rev − Exp = Surplus: matched
| Budget(budget) | 2025 | 2024 | |
|---|---|---|---|
| REVENUES: Health Canada | 599,092 | 587,815 | 567,341 |
| REVENUES: CMHC | 159,625 | 162,980 | 157,478 |
| REVENUES: Indigenous Services Canada | 5,773,502 | 25,000,222 | 20,276,970 |
| REVENUES: Province of Ontario | 1,710,830 | 2,442,187 | 3,780,400 |
| REVENUES: Land leases and fees | 1,208,651 | 1,246,640 | 1,255,747 |
| REVENUES: Ontario First Nations Limited Partnership | -⚑ | 1,512,729 | 1,230,925 |
| REVENUES: Interest | 217,740 | 4,125,120 | 3,665,668 |
| REVENUES: Dividend | -⚑ | 1,667,160 | 1,574,166 |
| REVENUES: Taxation | 1,114,328 | 1,109,138 | 1,087,848 |
| REVENUES: Other | 40,991,042 | 43,847,348 | 39,125,129 |
| REVENUES: Gain (loss) on sale of investments | -⚑ | 5,227,895 | 2,276,934 |
| [total REVENUES] | 51,774,810 | 86,929,234 | 74,998,606 |
| EXPENSES: Operating | 18,286,619 | 29,303,111 | 26,570,101 |
| EXPENSES: Social Housing | 276,865 | 416,602 | 271,040 |
| EXPENSES: Lands | 1,347,884 | 1,149,953 | 991,496 |
| EXPENSES: Nish Radio Inc. | 121,786 | 95,759 | 113,148 |
| EXPENSES: Island View Business Centre | 2,619,747 | 2,545,017 | 2,505,980 |
| EXPENSES: Tobacco Trails | 20,735,225 | 20,055,252 | 19,898,860 |
| EXPENSES: Daawegamig Lodge | 4,465,552 | 3,995,417 | 4,524,990 |
| EXPENSES: Virginia Beach Marina | 1,262,147 | 1,262,528 | 1,473,649 |
| EXPENSES: Goin Fuel Company | -⚑ | 85 | 54 |
| EXPENSES: Hadden Road Developments | -⚑ | 256,175 | 51,863 |
| EXPENSES: Ontario First Nations Land Partnership | -⚑ | 125 | 125 |
| EXPENSES: Coldwater Narrows Trust | -⚑ | 468,500 | 454,078 |
| EXPENSES: Williams Treaty Settlement | -⚑ | 1,853,122 | 985,215 |
| EXPENSES: Williams Treaty Trust | -⚑ | 1,700,227 | 1,415,350 |
| EXPENSES: Per Capita Distribution | -⚑ | 1,694,596 | 1,379,176 |
| [total EXPENSES] | 49,115,825 | 64,796,469 | 60,635,125 |
| EXCESS OF REVENUE OVER EXPENDITURES | 2,658,985 | 22,132,765 | 14,363,481 |
Consolidated Statement of Accumulated Surplus
FY 2024-2025 · PDF page 8
| 2025 | 2024 | |
|---|---|---|
| ACCUMULATED SURPLUS - BEGINNING OF YEAR | 270,112,780 | 246,753,762 |
| EXCESS OF REVENUE OVER EXPENDITURES | 22,132,765 | 14,363,481 |
| REMEASUREMENT GAINS AND LOSSES - NET (Page 7) | 5,373,715 | 8,995,537 |
| ACCUMULATED SURPLUS - END OF YEAR | 297,619,260 | 270,112,780 |
Consolidated Statement of Changes in Net Financial Assets
FY 2024-2025 · PDF page 9
| 2025 | 2024 | |
|---|---|---|
| EXCESS OF REVENUE OVER EXPENDITURES | 22,132,765 | 14,363,481 |
| Tangible capital assets: Acquisition of tangible capital assets | (28,225,969) | (16,593,729) |
| Tangible capital assets: Amortization of tangible capital assets | 5,058,777 | 4,443,274 |
| [total Tangible capital assets] | (23,167,192) | (12,150,455) |
| Change in prepaid expenses | 7,792 | (7,512) |
| Remeasurement gains and losses (Page 7) | 5,373,715 | 8,995,537 |
| INCREASE IN NET FINANCIAL ASSETS | 4,347,080 | 11,201,051 |
| NET FINANCIAL ASSETS - BEGINNING OF YEAR | 195,975,733 | 184,774,682 |
| NET FINANCIAL ASSETS - END OF YEAR | 200,322,813 | 195,975,733 |
Statement of Remeasurement Gains and Losses
FY 2024-2025 · PDF page 10
| 2025 | 2024 | |
|---|---|---|
| ACCUMULATED REMEASUREMENT GAIN - BEGINNING OF YEAR | 12,594,998 | 3,599,461 |
| Unrealized gain (losses) attributed to: Foreign exchange | 1,925,214 | 837,345 |
| Unrealized gain (losses) attributed to: Investments | 3,448,501 | 8,158,192 |
| Net remeasurement for the year | 5,373,715 | 8,995,537 |
| ACCUMULATED REMEASUREMENT GAIN - END OF YEAR | 17,968,713 | 12,594,998 |
Consolidated Statement of Cash Flows
FY 2024-2025 · PDF page 11
| 2025 | 2024 | |
|---|---|---|
| OPERATING ACTIVITIES: Excess of revenues over expenditures | 22,132,765 | 14,363,481 |
| OPERATING ACTIVITIES: Items not affecting cash: Amortization of tangible capital assets | 5,058,777 | 4,443,274 |
| OPERATING ACTIVITIES: Items not affecting cash: Amortization of net investment in leases | (16,376) | (17,584) |
| OPERATING ACTIVITIES: Items not affecting cash: (Gain) loss on sale of investments | (5,227,895) | (2,276,934) |
| [subtotal OPERATING ACTIVITIES] | 21,947,271 | 16,512,237 |
| Changes in non-cash working capital (Note 18)n18 | (3,192,000) | 7,112,499 |
| Cash flow from operating activities | 18,755,271 | 23,624,736 |
| INVESTING ACTIVITIES: Decrease (increase) in portfolio investments | 7,451,329 | (11,352,563) |
| INVESTING ACTIVITIES: Payments received for mortgages receivable | 3,221 | 3,663 |
| Cash flow from (used by) investing activities | 7,454,550 | (11,348,900) |
| FINANCING ACTIVITY: Long-term debt | (270,394) | 4,869,490 |
| CAPITAL TRANSACTIONS: Purchase of tangible capital assets | (28,225,969) | (16,593,729) |
| CAPITAL TRANSACTIONS: Increase in asset retirement obligations | -⚑ | 218,000 |
| Cash flow used by capital transactions | (28,225,969) | (16,375,729) |
| INCREASE (DECREASE) IN CASH FLOW | (2,286,542) | 769,597 |
| CASH - BEGINNING OF YEAR | 41,391,204 | 40,621,607 |
| CASH - END OF YEAR (Note 2)n2 | 39,104,662 | 41,391,204 |
Notes to the financial statements
Verbatim, as published. Statement lines above link to their notes.
Note 2CASH
| 2025 | 2024 | |
|---|---|---|
| Internally designated cash: OFNLP | 5,349,930 | 4,616,834 |
| Internally designated cash: Per Capita Distributions | 248,339 | 751,916 |
| Internally designated cash: Williams Treaty Settlement | 1,920,637 | 1,821,412 |
| Internally designated cash: Capital Reserve Fund | 309,857 | 208,689 |
| Internally designated cash: Coldwater Narrows Trust funds held by the Trustee | 621,141 | 331,567 |
| Internally designated cash: Williams Treaty Trust funds held by the Trustee | 734,631 | 182,429 |
| Unrestricted: Operating | 9,358,588 | 7,066,511 |
| Unrestricted: Social Housing | 1,537,698 | 1,262,091 |
| Unrestricted: Coldwater Narrows Trust Revenue | 5,086,563 | 4,938,517 |
| Unrestricted: Williams Treaty Trust Revenue | 4,610,045 | 4,062,190 |
| Unrestricted: Other | 9,327,233 | 16,149,048 |
| [total] | 39,104,662 | 41,391,204 |
Note 3PORTFOLIO INVESTMENTS - Fair Market Value
| 2025 | 2024 | |
|---|---|---|
| Fair Market Value: Fixed income securities | 40,777,046 | 37,229,906 |
| Fair Market Value: Equity securities | 119,046,937 | 116,628,850 |
| Fair Market Value: Other assets | 23,460,135 | 26,275,081 |
| [total] | 183,284,118 | 180,133,837 |
| 2025 | 2024 | |
|---|---|---|
| Cost: Fixed income securities | 42,815,146 | 41,281,759 |
| Cost: Equity securities | 99,355,317 | 100,335,346 |
| Cost: Other assets | 23,287,666 | 23,258,793 |
| [total] | 165,458,129 | 164,875,898 |
Note 4FINANCIAL INSTRUMENT CLASSIFICATION
| Fair Value(budget) | Amortized Cost | 2025 | |
|---|---|---|---|
| Cash | 39,104,662 | -⚑ | 39,104,662 |
| Portfolio investments | 183,284,118 | -⚑ | 183,284,118 |
| Receivables | -⚑ | 3,144,221 | 3,144,221 |
| Mortgages receivable | -⚑ | 16,191 | 16,191 |
| Net investment in leases | -⚑ | 618,626 | 618,626 |
| Payables and accruals | -⚑ | 7,918,226 | 7,918,226 |
| Long-term debt | -⚑ | 6,669,989 | 6,669,989 |
| [total] | 222,388,780 | 18,367,253 | 240,756,033 |
| Within 1 year | 2 to 5 years(other) | 6 to 10 years(other) | Over 10 years(other) | Total(other) | |
|---|---|---|---|---|---|
| Carrying Value | 2,203,821 | 10,250,082 | 12,772,690 | 6,901,801 | 32,128,394 |
| Percent of Total | |||||
Note 5RECEIVABLES
| 2025 | 2024 | |
|---|---|---|
| Due from members: Social Housing | 21,702 | 32,140 |
| Government funding: Indigenous Services Canada | 468,884 | 4,263,570 |
| Government funding: Province of Ontario | 15,235 | 1,087,121 |
| Government funding: OTC | 264,399 | 314,737 |
| Government funding: Union of Ontario Indians | 505,000 | 192,742 |
| Lands | 38,542 | 11,550 |
| Other | 1,788,351 | 379,448 |
| Interest | 53,658 | 65,175 |
| Less: allowance for doubtful accounts | (11,550) | (11,550) |
| [total] | 3,144,221 | 6,334,933 |
Note 6INVENTORIES FOR RESALE
| 2025 | 2024 | |
|---|---|---|
| Lands | 6,274 | 5,031 |
| Virginia Beach Marina | 48,372 | 39,714 |
| Tobacco Trails | 903,531 | 538,068 |
| Daawegamig Lodge | 272,816 | 326,167 |
| [total] | 1,230,993 | 908,980 |
Note 7MORTGAGES RECEIVABLE
| Principal | |
|---|---|
| 2026 | 4,425 |
| 2027 | 4,744 |
| 2028 | 7,022 |
| [total] | 16,191 |
Note 8NET INVESTMENT IN LEASES
| Principal | |
|---|---|
| 2026 | 46,610 |
| 2027 | 47,895 |
| 2028 | 49,220 |
| 2029 | 50,586 |
| 2030 | 51,995 |
| Thereafter | 372,320 |
| [total] | 618,626 |
Note 9PAYABLES AND ACCRUALS
| 2025 | 2024 | |
|---|---|---|
| Payables and accrued liabilities | 7,571,516 | 6,359,241 |
| Accrued salaries and employee benefits payable | 170,963 | 59,186 |
| Coldwater Narrows Trust per capita distributions to members | 76,386 | 81,292 |
| Williams Treaty Trust distributions to members | 99,361 | -⚑ |
| [total] | 7,918,226 | 6,499,719 |
Note 10DEFERRED REVENUE
| 2024 Balance | Funding Received(other) | Revenue Recognized(other) | 2025 Balance(other) | |
|---|---|---|---|---|
| Customer deposit | 114,182 | 116,441 | 114,182 | 116,441 |
| Lands | 452,370 | 442,365 | 352,065 | 542,670 |
| Taxation revenue | 11,253 | 80,189 | 11,253 | 80,189 |
| Other | 1,296,088 | 657,893 | 1,289,688 | 664,293 |
| Kinoomaadziwin Education Body (KEB) | 2,392,556 | 2,722,064 | 2,392,556 | 2,722,064 |
| Indigenous Services Canada | 15,446,773 | 5,825,292 | 13,233,239 | 8,038,826 |
| [total] | 19,713,222 | 9,844,244 | 17,392,983 | 12,164,483 |
Note 11LONG TERM DEBT
| 2025 | 2024 | |
|---|---|---|
| Mortgage loan bearing interest at 0.74% per annum, repayable in monthly blended payments of $2,551. The loan renews in 2026 and is due in 2031. | 160,024 | 189,338 |
| Mortgage loan bearing interest at 3.52% per annum, repayable in monthly blended payments of $2,764. The loan renews in 2029 and is due in 2033. | 226,995 | 251,775 |
| Mortgage loan bearing interest at 0.68% per annum, repayable in monthly blended payments of $1,391. The loan renews in 2026 and is due in 2036. | 162,676 | 178,214 |
| Mortgage loan bearing interest at 1.13% per annum, repayable in monthly blended payments of $1,576. The loan renews in 2027 and is due in 2037. | 201,082 | 217,628 |
| Mortgage loan bearing interest at 0.96% per annum, repayable in monthly blended payments of $1,068. The loan renews in 2026 and is due in 2040. | 175,255 | 186,335 |
| Mortgage loan bearing interest at 3.63% per annum, repayable in monthly blended payments of $5,410. The loan renews in 2030 and is due in 2044. | 886,657 | 917,093 |
| FNFA promissory note bearing interest at 4.47% per annum, repayable in monthly blended payments of $34,488 and is secured by OFNLP revenues. The note is due in 2035.nbearingnis | 4,857,300 | 5,000,000 |
| [total] | 6,669,989 | 6,940,383 |
| Principal | |
|---|---|
| 2026 | 752,149 |
| 2027 | 430,355 |
| 2028 | 255,415 |
| 2029 | 384,379 |
| 2030 | 953,445 |
| Thereafter | 3,894,246 |
| [total] | 6,669,989 |
Note 14PROPERTY, PLANT AND EQUIPMENT
| 2024 Balance | Additions(other) | Disposals/ Transfers(other) | 2025 Balance(other) | |
|---|---|---|---|---|
| Cost: Land | 25,835,054 | 17,500 | -⚑ | 25,852,554 |
| Cost: Buildings | 16,448,084 | 4,072,201 | -⚑ | 20,520,285 |
| Cost: Equipment | 5,576,044 | 891,311 | -⚑ | 6,467,355 |
| Cost: Boats | 9,436,436 | 184,508 | -⚑ | 9,620,944 |
| Cost: Vehicles | 3,978,962 | 256,459 | -⚑ | 4,235,421 |
| Cost: Water system | 23,822,717 | 956,876 | -⚑ | 24,779,593 |
| Cost: Parking lot | 343,353 | -⚑ | -⚑ | 343,353 |
| Cost: Roads | 12,039,937 | 2,655,215 | -⚑ | 14,695,152 |
| Cost: Docks | 1,939,391 | -⚑ | -⚑ | 1,939,391 |
| Cost: Construction-in-progress | 4,465,903 | 19,317,629 | 125,729 | 23,657,803 |
| [total Cost] | 103,885,881 | 28,351,699 | 125,729 | 132,111,851 |
| Accumulated Amortization: Buildings | 5,459,070 | 651,548 | -⚑ | 6,110,618 |
| Accumulated Amortization: Equipment | 3,089,832 | 486,726 | -⚑ | 3,576,558 |
| Accumulated Amortization: Boats | 5,723,550 | 214,691 | -⚑ | 5,938,241 |
| Accumulated Amortization: Vehicles | 2,741,730 | 510,787 | -⚑ | 3,252,517 |
| Accumulated Amortization: Water system | 6,215,984 | 2,260,661 | -⚑ | 8,476,645 |
| Accumulated Amortization: Parking lot | 256,299 | 9,616 | -⚑ | 265,915 |
| Accumulated Amortization: Roads | 4,516,426 | 886,590 | -⚑ | 5,403,016 |
| Accumulated Amortization: Docks | 1,786,762 | 38,158 | -⚑ | 1,824,920 |
| [total Accumulated Amortization] | 29,789,653 | 5,058,777 | -⚑ | 34,848,430 |
| 2025 | 2024 | |
|---|---|---|
| Land | 25,852,554 | 25,835,054 |
| Buildings | 14,409,667 | 10,989,014 |
| Equipment | 2,890,797 | 2,486,212 |
| Boats | 3,682,703 | 3,712,886 |
| Vehicles | 982,904 | 1,237,232 |
| Water system | 16,302,948 | 17,606,733 |
| Parking lot | 77,438 | 87,054 |
| Roads | 9,292,136 | 7,523,511 |
| Docks | 114,471 | 152,629 |
| Construction-in-progress | 23,657,803 | 4,465,903 |
| [total] | 97,263,421 | 74,096,228 |
Note 16SEGMENTED REPORTING
| General Government | Health(other) | Education(other) | Social Programs(other) | Public Infrastructure(other) | |
|---|---|---|---|---|---|
| Revenue: Government of Canada | -⚑ | 577,815 | -⚑ | -⚑ | 10,000 |
| Revenue: ISC | 7,384,489 | 250,967 | -⚑ | 4,463,111 | 12,334,717 |
| Revenue: OFNLP | 1,512,729 | -⚑ | -⚑ | -⚑ | -⚑ |
| Revenue: Province of Ontario | 57,092 | 463,462 | 9,600 | 1,706,383 | 205,650 |
| Revenue: Taxation | 1,109,138 | -⚑ | -⚑ | -⚑ | -⚑ |
| Revenue: Interest | 601,232 | -⚑ | -⚑ | 3 | -⚑ |
| Revenue: Other | 2,611,361 | 816,559 | 2,555,072 | 1,205,949 | 3,186,244 |
| Revenue: Gain/(loss) | |||||
| Revenue: Sales | |||||
| Revenue: Leases and fees | |||||
| Revenue: Dividend | |||||
| [total Revenue] | 13,276,041 | 2,108,803 | 2,564,672 | 7,375,446 | 15,736,611 |
| Expenditures: Bank charges and interest | 4,355 | -⚑ | -⚑ | -⚑ | 6,853 |
| Expenditures: Travel | 185,702 | 29,999 | 12,618 | 21,215 | 1,123,218 |
| Expenditures: Program expenditures | 847,535 | 786,224 | 1,468,211 | 3,197,148 | 1,033,630 |
| Expenditures: Office and general | 894,786 | 422,127 | 384,056 | 322,898 | 2,383,851 |
| Expenditures: Repairs and maintenance | 1,926,699 | 23,328 | 87,876 | 20,798 | 800,807 |
| Expenditures: Wages and benefits | 4,371,529 | 1,079,824 | 731,221 | 1,689,102 | 169,342 |
| Expenditures: Insurance | 227,834 | 13,984 | -⚑ | 69,481 | -⚑ |
| Expenditures: Professional fees | 240,400 | -⚑ | -⚑ | 70,406 | -⚑ |
| Expenditures: Cost of sales | |||||
| Expenditures: Amortization | 4,751,936 | -⚑ | -⚑ | -⚑ | -⚑ |
| [total Expenditures] | 13,450,776 | 2,355,486 | 2,683,982 | 5,391,048 | 5,517,701 |
| Annual surplus (deficit) | (174,735) | (246,683) | (119,310) | 1,984,398 | 10,218,910 |
| Social Housing | Marina(other) | Lands(other) | Trust Activities(other) | Consolidated 2025(other) | |
|---|---|---|---|---|---|
| Revenue: Government of Canada | 162,980 | -⚑ | -⚑ | -⚑ | 750,795 |
| Revenue: ISC | -⚑ | -⚑ | 566,938 | -⚑ | 25,000,222 |
| Revenue: OFNLP | -⚑ | -⚑ | -⚑ | -⚑ | 1,512,729 |
| Revenue: Province of Ontario | -⚑ | -⚑ | -⚑ | -⚑ | 2,442,187 |
| Revenue: Taxation | -⚑ | -⚑ | -⚑ | -⚑ | 1,109,138 |
| Revenue: Interest | 18,760 | 430,712 | 393,750 | 2,680,663 | 4,125,120 |
| Revenue: Other | 288,318 | 1,070,819 | 369,858 | 676,013 | 12,780,193 |
| Revenue: Gain/(loss) | -⚑ | -⚑ | -⚑ | 5,227,895 | 5,227,895 |
| Revenue: Sales | -⚑ | 31,042,835 | 24,320 | -⚑ | 31,067,155 |
| Revenue: Leases and fees | -⚑ | -⚑ | 1,246,640 | -⚑ | 1,246,640 |
| Revenue: Dividend | -⚑ | -⚑ | -⚑ | 1,667,160 | 1,667,160 |
| [total Revenue] | 470,058 | 32,544,366 | 2,601,506 | 10,251,731 | 86,929,234 |
| Expenditures: Bank charges and interest | -⚑ | 436,571 | -⚑ | 64,457 | 505,383 |
| Expenditures: Travel | -⚑ | 68 | 2,505 | -⚑ | 258,960 |
| Expenditures: Program expenditures | 51,351 | -⚑ | 154,065 | 4,521,439 | 12,149,191 |
| Expenditures: Office and general | 301 | 1,023,349 | 208,781 | 37,109 | 4,327,037 |
| Expenditures: Repairs and maintenance | 184,421 | 239,240 | 214,583 | -⚑ | 5,080,796 |
| Expenditures: Wages and benefits | -⚑ | 3,667,989 | 437,110 | -⚑ | 12,777,582 |
| Expenditures: Insurance | 118,265 | 71,478 | -⚑ | -⚑ | 670,384 |
| Expenditures: Professional fees | 11,878 | 72,018 | -⚑ | 1,093,440 | 1,488,142 |
| Expenditures: Cost of sales | -⚑ | 22,446,891 | 33,326 | -⚑ | 22,480,217 |
| Expenditures: Amortization | 50,386 | 156,872 | 99,583 | -⚑ | 5,058,777 |
| [total Expenditures] | 416,602 | 28,114,476 | 1,149,953 | 5,716,445 | 64,796,469 |
| Annual surplus (deficit) | 53,456 | 4,429,890 | 1,451,553 | 4,535,286 | 22,132,765 |
| General Government | Health(other) | Education(other) | Social Programs(other) | Public Infrastructure(other) | |
|---|---|---|---|---|---|
| Revenue: Government of Canada | -⚑ | 567,341 | -⚑ | -⚑ | -⚑ |
| Revenue: ISC | 4,739,347 | 828,737 | -⚑ | 1,345,220 | 12,808,037 |
| Revenue: OFNLP | 1,230,925 | -⚑ | -⚑ | -⚑ | -⚑ |
| Revenue: Province of Ontario | -⚑ | 1,087,299 | 13,477 | 1,568,033 | 991,591 |
| Revenue: Taxation | 1,087,848 | -⚑ | -⚑ | -⚑ | -⚑ |
| Revenue: Interest | 207,039 | -⚑ | -⚑ | 30 | -⚑ |
| Revenue: Other | 1,575,545 | 879,508 | 1,901,502 | 526,217 | 718,422 |
| Revenue: Gain/(loss) | |||||
| Revenue: Sales | |||||
| Revenue: Leases and fees | |||||
| Revenue: Dividend | |||||
| [total Revenue] | 8,840,704 | 3,362,885 | 1,914,979 | 3,439,500 | 14,518,050 |
| Expenditures: Bank charges and interest | 54,666 | -⚑ | -⚑ | -⚑ | 12,338 |
| Expenditures: Travel | 224,439 | 41,543 | 8,177 | 19,619 | 1,361,312 |
| Expenditures: Program expenditures | 746,426 | 1,722,436 | 1,328,952 | 1,774,495 | 1,301,369 |
| Expenditures: Office and general | 759,577 | 369,295 | 311,572 | 193,430 | 1,444,324 |
| Expenditures: Repairs and maintenance | 1,924,127 | 4,351 | 66,009 | 50,511 | 935,470 |
| Expenditures: Wages and benefits | 4,367,903 | 717,823 | 566,378 | 1,390,491 | 158,242 |
| Expenditures: Insurance | 202,726 | 10,796 | -⚑ | 34,908 | -⚑ |
| Expenditures: Professional fees | 272,278 | -⚑ | -⚑ | 122,658 | -⚑ |
| Expenditures: Cost of sales | |||||
| Expenditures: Amortization | 4,184,731 | -⚑ | -⚑ | -⚑ | -⚑ |
| [total Expenditures] | 12,736,873 | 2,866,244 | 2,281,088 | 3,586,112 | 5,213,055 |
| Annual surplus (deficit) | (3,896,169) | 496,641 | (366,109) | (146,612) | 9,304,995 |
| Social Housing | Marina(other) | Lands(other) | Trust Activities(other) | Consolidated 2024(other) | |
|---|---|---|---|---|---|
| Revenue: Government of Canada | 157,478 | -⚑ | -⚑ | -⚑ | 724,819 |
| Revenue: ISC | -⚑ | -⚑ | 555,629 | -⚑ | 20,276,970 |
| Revenue: OFNLP | -⚑ | -⚑ | -⚑ | -⚑ | 1,230,925 |
| Revenue: Province of Ontario | -⚑ | 120,000 | -⚑ | -⚑ | 3,780,400 |
| Revenue: Taxation | -⚑ | -⚑ | -⚑ | -⚑ | 1,087,848 |
| Revenue: Interest | 21,337 | 184,872 | 400,848 | 2,851,542 | 3,665,668 |
| Revenue: Other | 155,365 | 1,012,541 | 183,592 | 559,849 | 7,512,541 |
| Revenue: Gain/(loss) | -⚑ | -⚑ | -⚑ | 2,276,934 | 2,276,934 |
| Revenue: Sales | -⚑ | 31,582,551 | 30,037 | -⚑ | 31,612,588 |
| Revenue: Leases and fees | -⚑ | -⚑ | 1,255,747 | -⚑ | 1,255,747 |
| Revenue: Dividend | -⚑ | -⚑ | -⚑ | 1,574,166 | 1,574,166 |
| [total Revenue] | 334,180 | 32,899,964 | 2,425,853 | 7,262,491 | 74,998,606 |
| Expenditures: Bank charges and interest | -⚑ | 209,082 | -⚑ | 59,335 | 323,083 |
| Expenditures: Travel | -⚑ | 542 | 1,989 | -⚑ | 308,647 |
| Expenditures: Program expenditures | 44,096 | -⚑ | 154,178 | 2,940,909 | 10,072,804 |
| Expenditures: Office and general | 276 | 1,111,009 | 173,205 | 106,967 | 4,326,700 |
| Expenditures: Repairs and maintenance | 87,846 | 202,010 | 187,288 | -⚑ | 3,966,466 |
| Expenditures: Wages and benefits | -⚑ | 3,897,372 | 343,743 | -⚑ | 12,219,180 |
| Expenditures: Insurance | 76,558 | 74,042 | -⚑ | -⚑ | 557,272 |
| Expenditures: Professional fees | 11,878 | 72,765 | -⚑ | 1,126,609 | 1,606,188 |
| Expenditures: Cost of sales | -⚑ | 22,781,769 | 29,742 | -⚑ | 22,811,511 |
| Expenditures: Amortization | 50,386 | 106,805 | 101,352 | -⚑ | 4,443,274 |
| [total Expenditures] | 271,040 | 28,455,396 | 991,497 | 4,233,820 | 60,635,125 |
| Annual surplus (deficit) | 63,140 | 4,444,568 | 1,434,356 | 3,028,671 | 14,363,481 |
Note 17ACCUMULATED SURPLUS
| 2025 | 2024 | |
|---|---|---|
| Unrestricted: Operating | 52,790,464 | 37,132,814 |
| Internally restricted: Social Housing | 172,752 | 119,296 |
| Internally restricted: Virginia Beach Marina | (454,089) | (445,046) |
| Internally restricted: Lands | 33,834,835 | 33,087,137 |
| Internally restricted: Coldwater Narrows Trust Funds - held by Canada Trust Company | 46,816,356 | 47,236,390 |
| Internally restricted: OFNLP Revenue Fund | 8,783,376 | 7,449,327 |
| Internally restricted: Per Capita Distribution Fund | 125,099 | 99,637 |
| Internally restricted: Coldwater Narrows Trust Revenue Fund | 10,587,952 | 7,995,877 |
| Internally restricted: Williams Treaty Trust Funds - held by Canada Trust Company | 118,489,265 | 117,603,567 |
| Internally restricted: Williams Treaty Settlement | 224,079 | 165,376 |
| Internally restricted: Williams Treaty Trust Revenue Fund | 6,441,820 | 4,062,190 |
| Internally restricted: 2458582 Ontario Limited | 2,237,770 | 1,394,001 |
| Internally restricted: Nish Radio Inc. | (12,793) | (12,793) |
| Internally restricted: Tobacco Trails | 6,886,131 | 5,144,852 |
| Internally restricted: Daawegamig Lodge | 5,460,165 | 3,982,915 |
| Internally restricted: Virginia Beach Marina - Business Centre | (271,592) | (306,538) |
| Internally restricted: Goin Fuel Company Limited | 23,821 | 22,906 |
| Internally restricted: Hadden Road Developments | 5,483,849 | 5,380,872 |
| [total] | 297,619,260 | 270,112,780 |
Note 18CHANGES IN NON-CASH WORKING CAPITAL
| 2025 | 2024 | |
|---|---|---|
| Receivables | 3,190,712 | (3,506,943) |
| Inventories for resale | (322,013) | 256,107 |
| Payments received for investment in leases | 61,741 | 61,740 |
| Prepaid expenses | 7,792 | (7,512) |
| Accounts payable and accrued liabilities | 1,418,507 | (558,728) |
| Deferred revenue | (7,548,739) | 10,867,835 |
| [total] | (3,192,000) | 7,112,499 |
Note 19FINANCIAL INSTRUMENT RISK MANAGEMENT - Liquidity risk 2025
| Within 6 months | 6 months to 1 year(other) | 1-5 years(other) | >5 years(other) | |
|---|---|---|---|---|
| Payables and accruals | 7,918,226 | -⚑ | -⚑ | -⚑ |
| Long-term debt | 376,075 | 376,075 | 2,023,593 | 3,894,246 |
| [total] | 8,294,301 | 376,075 | 2,023,593 | 3,894,246 |
| Within 6 months | 6 months to 1 year(other) | 1-5 years(other) | >5 years(other) | |
|---|---|---|---|---|
| Payables and accruals | 6,499,719 | -⚑ | -⚑ | -⚑ |
| Long-term debt | 48,575 | 965,667 | 5,659,974 | 266,166 |
| [total] | 6,548,294 | 965,667 | 5,659,974 | 266,166 |
Note 20BUDGETED FIGURES
| Approved Fiscal Plan(budget) | Amortization | Fiscal Plan on a PSAS Basis | |
|---|---|---|---|
| Revenue | 51,774,810 | -⚑ | 51,774,810 |
| Expenditures | (49,115,825) | (5,058,777) | (54,174,602) |
| Annual surplus | 2,658,985 | (5,058,777) | (2,399,792) |