First Nations / Band 32 · Newfoundland and Labrador
Mushuau Innu First Nation
Fiscal year 2023-2024 (year-end 2024-03-31) · 1,260 registered · 1,157 on reserve
At a glance · FY 2023-2024
Annual surplus (deficit)
-$1.44M
-$1,437,101
Total revenue
$54.1M
$54,090,577
Total expenses
$51.4M
$51,413,922
Accumulated surplus
$128M
$127,954,265
Total financial assets
$101M
$100,555,817
Total financial liabilities
$62.6M
$62,571,841
Net financial assets (debt)
$38.0M
$37,983,976
Total non-financial assets
$90.0M
$89,970,289
Revenue and expenses · FY 2023-2024
As published. Line items from the Statement of Operations, ranked by amount.
Revenue
- Federal government operating transfers$27.6M
- Federal government capital transfers$7.64M
- Earnings from investment in Nation business entities$5.01M
- Sheshatshiu Innu and Mushuau Innu First Nations Trust$3.23M
- Provincial government operating transfers$2.82M
- Facilities management$1.96M
- Innu Nation$1.63M
- Labrador Innu Round Table Secretariat$1.61M
- Interest$1.21M
- Infrastructure park$396K
- Miscellaneous$350K
- Innu Development Limited Partnership donations$234K
- Rental$190K
- Postal$95.4K
- Sheshatshiu Innu First Nation$84.2K
- Provincial government capital transfers$6.16K
Expenses
- Operations and maintenance$18.1M
- Health Commission$9.86M
- Natuashish Housing Authority$5.00M
- Band support$4.84M
- Social programs$4.46M
- Outpost, gatherings and traditional skills$2.47M
- Recreation and community events$1.98M
- Mushuau EPH and Group Home Inc.$1.84M
- Education and training$1.60M
- Economic development$687K
- Safety and security$538K
Reconciliation: revenue $54.1M − expenses $51.4M = -$1.44M deficit
Data by fiscal year
Each row is a fiscal year; every cell opens that data product. Missing data is shown, not hidden.
| Fiscal year | Statement tables, notes, schedules | Operations | Financial position | Headline figures | Council pay | Source PDF |
|---|---|---|---|---|---|---|
| 2024-2025 | Posted, not captured | — | — | — | Posted, not captured | |
| 2023-2024viewing | View | View | View | View | Posted, not captured | |
| 2022-2023 | Posted, not captured | — | — | — | Posted, not captured | |
| 2021-2022 | Posted, not captured | — | — | — | 4 rows | |
| 2020-2021 | Posted, not captured | — | — | — | 4 rows | |
| 2019-2020 | Posted, not captured | — | — | — | 7 rows | |
| 2018-2019 | Posted, not captured | — | — | — | 5 rows | |
| 2017-2018 | Posted, not captured | — | — | — | Posted, not captured | |
| 2016-2017 | Posted, not captured | — | — | — | 9 rows | |
| 2015-2016 | Posted, not captured | — | — | — | 5 rows | |
| 2014-2015 | Posted, not captured | — | — | — | 5 rows | |
| 2013-2014 | Posted, not captured | — | — | — | 8 rows |
Statements as published · FY 2023-2024
Consolidated Statement of Financial Position As at March 31, 2024
FY 2023-2024 · PDF page 6
| 2024 | 2023 | |
|---|---|---|
| [Financial assets] | ||
| Cash and cash equivalents | 15,089,437 | 12,187,749 |
| Funds held in trust (Note 4)n4 | 320,943 | 249,630 |
| Accounts receivable (Note 5)n5 | 4,019,605 | 4,141,564 |
| Portfolio investments (Note 6)n6 | 17,230,905 | 17,169,585 |
| Due from governments (Note 7)n7 | 31,075,370 | 12,318,006 |
| Inventory for resale (Note 8)n8 | 321,115 | 732,362 |
| Investments in partnerships and Nation business entities (Note 9)n9 | 32,498,442 | 29,648,499 |
| Total financial assets | 100,555,817 | 76,447,395 |
| [Financial liabilities] | ||
| Accounts payable and accruals (Note 10)n10 | 6,631,332 | 5,443,147 |
| Due to governments (Note 11)n11 | 5,217,799 | 2,823,222 |
| Deferred revenue (Note 12)n12 | 40,096,372 | 20,422,085 |
| Advances from related parties (Note 13)n13 | 5,322,244 | 3,740,258 |
| Long-term debt (Note 14)n14 | 3,179,094 | 3,726,427 |
| Settlement obligations (Note 15)n15 | 2,125,000 | -⚑ |
| Total financial liabilities | 62,571,841 | 36,155,139 |
| Net financial assets | 37,983,976 | 40,292,256 |
| [Non-financial assets] | ||
| Tangible capital assets (Schedule 1) | 85,786,869 | 85,918,477 |
| Inventory for consumption (Note 8)n8 | 2,051,425 | 2,257,708 |
| Prepaid expenses | 2,131,995 | 922,925 |
| Total non-financial assets | 89,970,289 | 89,099,110 |
| Accumulated surplus (Note 17)n17 | 127,954,265 | 129,391,366 |
Consolidated Statement of Operations and Accumulated Surplus For the year ended March 31, 2024
FY 2023-2024 · PDF page 7
| 2024 Budget (Note 20)(budget) | 2024 | 2023 | |
|---|---|---|---|
| [Revenue] | |||
| Federal government operating transfers (Note 18)n18 | 26,928,123 | 27,632,488 | 30,226,438 |
| Federal government capital transfers (Note 18)n18 | 954,400 | 7,642,535 | 7,935,204 |
| Provincial government operating transfers (Note 18)n18 | 3,375,032 | 2,817,495 | 2,449,222 |
| Provincial government capital transfers (Note 18)n18 | -⚑ | 6,159 | 39,259 |
| [Subtotal] | 31,257,555 | 38,098,677 | 40,650,123 |
| Earnings from investment in Nation business entities (Note 9)n9 | -⚑ | 5,005,886 | 5,239,208 |
| Sheshatshiu Innu and Mushuau Innu First Nations Trust | 3,376,070 | 3,225,399 | 3,771,372 |
| Facilities management | 943,104 | 1,960,108 | 1,470,039 |
| Innu Nation | 375,000 | 1,628,863 | 1,381,945 |
| Infrastructure park | 612,000 | 395,875 | 612,000 |
| Interest | 75,000 | 1,213,447 | 407,935 |
| Rental | 250,000 | 190,291 | 213,489 |
| Innu Development Limited Partnership donations | 1,600,000 | 233,827 | 100,000 |
| Miscellaneous | -⚑ | 349,820 | 69,704 |
| Postal | 85,000 | 95,356 | 66,149 |
| Labrador Innu Round Table Secretariat | -⚑ | 1,608,779 | 10,000 |
| Sheshatshiu Innu First Nation | -⚑ | 84,249 | -⚑ |
| [Total Revenue] | 38,573,729 | 54,090,577 | 53,991,964 |
| [Expenses (Note 19)] | |||
| Band support | 5,427,428 | 4,840,502 | 4,046,716 |
| Economic development | 106,919 | 686,505 | 371,377 |
| Education and training | 1,692,738 | 1,598,758 | 2,616,457 |
| Health Commission | 9,121,786 | 9,856,977 | 8,162,940 |
| Mushuau EPH and Group Home Inc. | 2,050,032 | 1,839,733 | 1,960,735 |
| Natuashish Housing Authority | 6,171,440 | 5,003,324 | 6,805,478 |
| Operations and maintenance | 16,951,216 | 18,135,296 | 17,010,264 |
| Outpost, gatherings and traditional skills | 2,526,412 | 2,472,402 | 3,411,941 |
| Recreation and community events | 1,715,037 | 1,983,697 | 2,213,907 |
| Safety and security | 555,910 | 538,469 | 637,427 |
| Social programs | 4,186,900 | 4,458,259 | 4,754,837 |
| [Total Expenses] | 50,505,818 | 51,413,922 | 51,992,079 |
| Annual surplus (deficit) before other items | (11,932,089) | 2,676,655 | 1,999,885 |
| [Other income (expenses)] | |||
| Provision for write-down of investment (Note 9)n9 | -⚑ | (1,085,369) | (495,449) |
| Insurance proceeds | -⚑ | 35,000 | 307,500 |
| Settlement costs | -⚑ | (2,909,000) | -⚑ |
| Loss attributed to theft | -⚑ | (30,467) | -⚑ |
| Funding repayments | -⚑ | (123,920) | -⚑ |
| Annual surplus (deficit) | (11,932,089) | (1,437,101) | 1,811,936 |
| Accumulated surplus, beginning of year | 129,391,366 | 129,391,366 | 127,579,430 |
| Accumulated surplus, end of year | 117,459,277 | 127,954,265 | 129,391,366 |
Consolidated Statement of Change in Net Financial Assets For the year ended March 31, 2024
FY 2023-2024 · PDF page 8
| 2024 Budget (Note 20)(budget) | 2024 | 2023 | |
|---|---|---|---|
| Annual surplus (deficit) | (11,932,089) | (1,437,101) | 1,811,936 |
| Acquisition of tangible capital assets | -⚑ | (7,661,317) | (10,002,160) |
| Amortization of tangible capital assets | -⚑ | 7,792,925 | 10,792,517 |
| Consumption of supplies inventory, net | -⚑ | 206,283 | (1,442,351) |
| Acquisition of prepaid expenses, net | -⚑ | (1,209,070) | (131,953) |
| Increase (decrease) in net financial assets | (11,932,089) | (2,308,280) | 1,027,989 |
| Net financial assets, beginning of year | 40,292,256 | 40,292,256 | 39,264,267 |
| Net financial assets, end of year | 28,360,167 | 37,983,976 | 40,292,256 |
Consolidated Statement of Cash Flows For the year ended March 31, 2024
FY 2023-2024 · PDF page 9
| 2024 | 2023 | |
|---|---|---|
| [Cash provided by (used for) the following activities] | ||
| [Operating activities] | ||
| Annual surplus (deficit) | (1,437,101) | 1,811,936 |
| [Non-cash items] | ||
| Earnings from investment in Nation business entities | (5,005,886) | (5,239,208) |
| Impairment loss on investment in First Nation business entities | 1,085,369 | 495,449 |
| Amortization of tangible capital assets | 7,792,925 | 10,792,517 |
| [Subtotal] | 2,435,307 | 7,860,694 |
| [Changes in working capital accounts] | ||
| Accounts receivable | 121,960 | (1,510,992) |
| Prepaid expenses | (1,209,070) | (131,963) |
| Accounts payable and accruals | 1,188,185 | 1,272,872 |
| Deferred revenue | 19,674,287 | 4,851,478 |
| Due to governments | 2,394,577 | 893,164 |
| Inventories | 617,530 | (1,911,032) |
| Due from governments | (18,757,364) | (7,600,558) |
| Settlement obligation | 2,125,000 | -⚑ |
| [Total Operating activities] | 8,590,412 | 3,723,663 |
| [Financing activities] | ||
| Repayment of debt | (547,333) | (594,519) |
| Net advances from related parties | 1,581,986 | 1,045,210 |
| [Total Financing activities] | 1,034,653 | 450,691 |
| [Capital activities] | ||
| Acquisition of tangible capital assets | (7,661,317) | (10,002,160) |
| [Investing activities] | ||
| Purchase of portfolio investments | (61,320) | (17,169,585) |
| Funds held in trust | (71,313) | (65,406) |
| Withdrawals from First Nation business entities | 2,155,943 | 2,999,940 |
| Contributions to Natuashish Shipping Limited Partnership | (1,085,370) | (495,449) |
| [Total Investing activities] | 937,940 | (14,730,500) |
| Increase (decrease) in cash resources | 2,901,688 | (20,558,306) |
| Cash resources, beginning of year | 12,187,749 | 32,746,055 |
| Cash resources, end of year | 15,089,437 | 12,187,749 |
Schedule 2 - Statements of Segmented Revenue and Expenses March 31, 2024
FY 2023-2024 · PDF page 25
| Education Budget 2024(budget) | Education Actual 2024 | Education Actual 2023 | Health Budget 2024(budget) | Health Actual 2024(other) | Health Actual 2023(other) | Economic Development Budget 2024(budget) | Economic Development Actual 2024(other) | Economic Development Actual 2023(other) | |
|---|---|---|---|---|---|---|---|---|---|
| [Revenue] | |||||||||
| Federal government operating transfers | 861,668 | 582,439 | 995,297 | 7,893,523 | 8,282,415 | 7,616,060 | 65,440 | 418,976 | 94,808 |
| Federal government capital transfers | -⚑ | 208,224 | 4,677,838 | -⚑ | 305,705 | 2,992,461 | -⚑ | -⚑ | -⚑ |
| Government of NL operating transfers | 1,325,000 | -⚑ | 275,000 | -⚑ | -⚑ | 1,000 | -⚑ | -⚑ | -⚑ |
| Government of NL capital transfers | |||||||||
| Other revenue | 421,070 | 76,622 | 106,496 | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ |
| Share of income in business enterprises | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | 5,005,886 | 3,941,708 |
| Total Revenue | 2,607,738 | 867,285 | 6,054,632 | 7,893,523 | 8,588,120 | 10,609,521 | 65,440 | 5,424,862 | 4,036,516 |
| [Expenditures] | |||||||||
| Wages and benefits | 183,800 | 219,021 | 369,890 | 4,992,338 | 3,882,363 | 3,698,735 | 85,219 | 227,437 | 85,605 |
| Interest expense | |||||||||
| Other expense | 1,508,938 | 1,056,664 | 1,006,903 | 4,129,448 | 5,418,987 | 3,710,582 | 21,701 | 191,615 | 18,509 |
| Total expenses before amortization | 1,692,738 | 1,275,684 | 1,376,793 | 9,121,786 | 9,301,349 | 7,409,317 | 106,919 | 419,052 | 104,114 |
| Amortization | -⚑ | 323,074 | 1,239,664 | -⚑ | 555,628 | 753,623 | -⚑ | 267,453 | 267,263 |
| Total Expenses | 1,692,738 | 1,598,758 | 2,616,457 | 9,121,786 | 9,856,977 | 8,162,940 | 106,919 | 686,505 | 371,377 |
| Provision for write down of investment in First Nation business entities | |||||||||
| Insurance proceeds | |||||||||
| Settlement costs | |||||||||
| Loss attributed to theft | |||||||||
| Funding repayments | |||||||||
| Annual Surplus (deficit) | 915,000 | (731,473) | 3,438,174 | (1,228,262) | (1,268,857) | 2,446,581 | (41,479) | 4,738,357 | 3,665,139 |
Schedule 2 - Statements of Segmented Revenue and Expenses March 31, 2024 (Continued)
FY 2023-2024 · PDF page 26
| Housing Budget 2024(budget) | Housing Actual 2024 | Housing Actual 2023 | Community Services Budget 2024(budget) | Community Services Actual 2024(other) | Community Services Actual 2023(other) | Band Support Budget 2024(budget) | Band Support Actual 2024(other) | Band Support Actual 2023(other) | |
|---|---|---|---|---|---|---|---|---|---|
| [Revenue] | |||||||||
| Federal government operating transfers | 4,212,879 | 1,047,920 | 3,569,068 | 12,699,522 | 15,567,791 | 16,110,024 | 1,195,091 | 1,732,946 | 1,841,180 |
| Federal government capital transfers | -⚑ | 3,742,334 | 2,055 | 954,400 | 3,293,650 | 262,850 | -⚑ | 92,622 | -⚑ |
| Government of NL operating transfers | -⚑ | -⚑ | -⚑ | 2,050,032 | 2,783,694 | 2,113,280 | -⚑ | 33,801 | 59,942 |
| Government of NL capital transfers | -⚑ | -⚑ | -⚑ | -⚑ | 6,159 | 39,259 | -⚑ | -⚑ | -⚑ |
| Other revenue | 250,000 | 190,291 | 511,989 | 3,462,767 | 5,704,845 | 4,952,668 | 3,182,337 | 5,014,256 | 2,531,480 |
| Share of income in business enterprises | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | 1,297,500 | -⚑ | -⚑ | -⚑ |
| Total Revenue | 4,462,879 | 4,980,545 | 4,083,112 | 19,166,721 | 27,356,140 | 24,775,581 | 4,377,428 | 6,873,625 | 4,432,602 |
| [Expenditures] | |||||||||
| Wages and benefits | 1,391,368 | 993,321 | 932,818 | 5,625,451 | 5,489,728 | 5,413,717 | 3,156,471 | 2,074,899 | 2,173,611 |
| Interest expense | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | 792,000 | 199,854 | 216,858 |
| Other expense | 4,780,072 | 1,265,791 | 1,999,973 | 19,911,856 | 20,083,639 | 20,156,144 | 1,478,957 | 2,517,680 | 1,416,215 |
| Total expenses before amortization | 6,171,440 | 2,259,112 | 2,932,792 | 25,537,307 | 25,573,367 | 25,569,861 | 5,427,428 | 4,792,433 | 3,806,683 |
| Amortization | -⚑ | 2,744,212 | 3,872,686 | 2,448,200 | 3,854,489 | 4,419,249 | -⚑ | 48,069 | 240,033 |
| Total Expenses | 6,171,440 | 5,003,324 | 6,805,478 | 27,985,507 | 29,427,856 | 29,989,110 | 5,427,428 | 4,840,502 | 4,046,716 |
| Provision for write down of investment in First Nation business entities | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | (1,085,369) | (495,449) |
| Insurance proceeds | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | 35,000 | 307,500 |
| Settlement costs | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | (2,909,000) | -⚑ |
| Loss attributed to theft | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | (30,467) | -⚑ |
| Funding repayments | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | -⚑ | (123,920) | -⚑ |
| Annual Surplus (deficit) | (1,708,561) | (22,779) | (2,722,366) | (8,818,786) | (2,071,717) | (5,213,529) | (1,050,000) | (2,080,633) | 197,937 |
Schedule 2 - Statements of Segmented Revenue and Expenses March 31, 2024 (Continued)
FY 2023-2024 · PDF page 27
| Total Budget 2024(budget) | Total Actual 2024 | Total Actual 2023 | |
|---|---|---|---|
| [Revenue] | |||
| Federal government operating transfers | 26,928,123 | 27,632,488 | 30,226,438 |
| Federal government capital transfers | 954,400 | 7,642,535 | 7,935,204 |
| Government of NL operating transfers | 3,375,032 | 2,817,495 | 2,449,222 |
| Government of NL capital transfers | -⚑ | 6,159 | 39,259 |
| Other revenue | 7,316,174 | 10,986,014 | 8,102,633 |
| Share of income in business enterprises | -⚑ | 5,005,886 | 5,239,208 |
| Total Revenue | 38,573,729 | 54,090,577 | 53,991,964 |
| [Expenditures] | |||
| Wages and benefits | 15,434,647 | 12,886,768 | 12,674,375 |
| Interest expense | 792,000 | 199,854 | 216,858 |
| Other expense | 31,830,972 | 30,534,375 | 28,308,328 |
| Total expenses before amortization | 48,057,618 | 43,620,997 | 41,199,560 |
| Amortization | 2,448,200 | 7,792,925 | 10,792,518 |
| Total Expenses | 50,505,818 | 51,413,922 | 51,992,078 |
| Provision for write down of investment in First Nation business entities | -⚑ | (1,085,369) | (495,449) |
| Insurance proceeds | -⚑ | 35,000 | 307,500 |
| Settlement costs | -⚑ | (2,909,000) | -⚑ |
| Loss attributed to theft | -⚑ | (30,467) | -⚑ |
| Funding repayments | -⚑ | (123,920) | -⚑ |
| Annual Surplus (deficit) | (11,932,089) | (1,437,101) | 1,811,937 |
Schedules as published
Schedule 1 - Consolidated Schedule of Tangible Capital Assets For the year ended March 31, 2024PDF p. 23
| Building | Housing(other) | Equipment(other) | Infrastructure(other) | Transportation equipment(other) | Subtotal(other) | |
|---|---|---|---|---|---|---|
| [Cost] | ||||||
| Balance, beginning of year | 85,015,441 | 87,880,559 | 7,075,736 | 56,790,228 | 2,347,905 | 239,109,869 |
| Acquisition of tangible capital assets | -⚑ | -⚑ | 173,182 | -⚑ | 723,377 | 896,559 |
| Construction-in-progress | 1,956,180 | 4,808,578 | -⚑ | -⚑ | -⚑ | 6,764,758 |
| Disposal of tangible capital assets | -⚑ | -⚑ | (56,200) | -⚑ | -⚑ | (56,200) |
| Balance, end of year | 86,971,621 | 92,689,137 | 7,192,718 | 56,790,228 | 3,071,282 | 246,714,986 |
| [Accumulated amortization] | ||||||
| Balance, beginning of year | 63,024,142 | 59,961,233 | 5,828,628 | 24,617,352 | 1,444,504 | 154,875,859 |
| Annual amortization | 2,110,170 | 2,740,911 | 572,163 | 1,419,756 | 388,434 | 7,231,434 |
| Accumulated amortization on disposals | -⚑ | -⚑ | (56,200) | -⚑ | -⚑ | (56,200) |
| Balance, end of year | 65,134,312 | 62,702,144 | 6,344,591 | 26,037,108 | 1,832,938 | 162,051,093 |
| Net book value of tangible capital assets | 21,837,309 | 29,986,993 | 848,127 | 30,753,120 | 1,238,344 | 84,663,893 |
| Net book value of tangible capital assets 2023 | 21,991,299 | 27,919,326 | 1,247,108 | 32,172,876 | 903,401 | 84,234,010 |
Schedule 1 - Consolidated Schedule of Tangible Capital Assets For the year ended March 31, 2024 (Continued)PDF p. 24
| Subtotal | Wharf(other) | 2024(other) | 2023(other) | |
|---|---|---|---|---|
| [Cost] | ||||
| Balance, beginning of year | 239,109,869 | 11,229,814 | 250,339,683 | 240,337,523 |
| Acquisition of tangible capital assets | 896,559 | -⚑ | 896,559 | 10,002,160 |
| Construction-in-progress | 6,764,758 | -⚑ | 6,764,758 | -⚑ |
| Disposal of tangible capital assets | (56,200) | -⚑ | (56,200) | -⚑ |
| Balance, end of year | 246,714,986 | 11,229,814 | 257,944,800 | 250,339,683 |
| [Accumulated amortization] | ||||
| Balance, beginning of year | 154,875,859 | 9,545,347 | 164,421,206 | 153,628,689 |
| Annual amortization | 7,231,434 | 561,491 | 7,792,925 | 10,792,517 |
| Accumulated amortization on disposals | (56,200) | -⚑ | (56,200) | -⚑ |
| Balance, end of year | 162,051,093 | 10,106,838 | 172,157,931 | 164,421,206 |
| Net book value of tangible capital assets | 84,663,893 | 1,122,976 | 85,786,869 | 85,918,477 |
| Net book value of tangible capital assets 2023 | 84,234,010 | 1,684,467 | 85,918,477 | ⚑ |
Notes to the financial statements
Verbatim, as published. Statement lines above link to their notes.
Note 3Significant accounting policies (Amortization)
| Rate | |
|---|---|
| Buildings | |
| Housing | |
| Equipment | |
| Infrastructure | |
| Transportation equipment | |
| Wharf | |
Note 4Funds held in trust by the Federal Government
| 2024 | 2023 | |
|---|---|---|
| [Revenue Trust] | ||
| Balance, beginning of year | 249,630 | 184,224 |
| Additions | 71,313 | 65,406 |
| [Total] | 320,943 | 249,630 |
Note 5Accounts receivable
| 2024 | 2023 | |
|---|---|---|
| Members | 70,176 | 54,207 |
| Non members | 4,040,462 | 4,142,636 |
| [Subtotal] | 4,110,638 | 4,196,843 |
| Less: Allowance for doubtful accounts | 91,033 | 55,279 |
| [Total] | 4,019,605 | 4,141,564 |
Note 7Due from governments
| 2024 | 2023 | |
|---|---|---|
| First Nations and Inuit Health Branch | 984,227 | 1,137,433 |
| Indigenous Services Canada | 27,807,329 | 8,892,559 |
| Canada Revenue Agency - Harmonized Sales Tax | 855,836 | 1,399,703 |
| Service Canada | 100,000 | -⚑ |
| Public Safety Canada | 1,314,228 | 642,678 |
| Royal Canadian Mounted Police | -⚑ | 11,104 |
| Labrador-Grenfell Health | -⚑ | 13,391 |
| Government of Newfoundland and Labrador | 13,750 | 221,138 |
| [Total] | 31,075,370 | 12,318,006 |
Note 8Inventories
| 2024 | 2023 | |
|---|---|---|
| Fuel for resale | 306,535 | 717,782 |
| Post office | 14,580 | 14,580 |
| Total inventory for resale | 321,115 | 732,362 |
| Inventories for consumption | 2,051,425 | 2,257,708 |
| [Total] | 2,372,540 | 2,990,070 |
Note 9Investments in partnerships and First Nation business entities
| Investment cost 2024 | Cumulative share of earnings 2024(other) | Drawings 2024(other) | Total investment 2024(other) | |
|---|---|---|---|---|
| [Business Partnerships – Modified Equity:] | ||||
| Innu Development Limited Partnership - 49.99% | 20,750,873 | 4,102,649 | (2,155,943) | 22,697,579 |
| Mushuau Camp and Catering Limited Partnership - 99.99% | 8,873,552 | 904,647 | -⚑ | 9,778,199 |
| Mushuau Innu Camp and Catering Inc. - 100% | 24,074 | (1,410) | -⚑ | 22,664 |
| [Total 2024] | 29,648,499 | 5,005,886 | (2,155,943) | 32,498,442 |
| Investment cost 2023 | Cumulative share of earnings (loss) 2023(other) | Withdrawals 2023(other) | Total investment 2023(other) | |
|---|---|---|---|---|
| [Business Partnerships – Modified Equity:] | ||||
| Innu Development Limited Partnership - 49.99% | 18,115,070 | 5,635,743 | (2,999,940) | 20,750,873 |
| Mushuau Camp and Catering Limited Partnership - 99.99% | 9,268,547 | (394,995) | -⚑ | 8,873,552 |
| Mushuau Innu Camp and Catering Inc. - 100% | 25,614 | (1,540) | -⚑ | 24,074 |
| [Total 2023] | 27,409,231 | 5,239,208 | (2,999,940) | 29,648,499 |
| Innu Development Limited Partnership - 49.995% As at March 31, 2024(budget) | Mushuau Camp and Catering Limited Partnership - 99.99% As at March 31, 2024 | Mushuau Innu Camp and Catering Inc. - 100% As at March 31, 2024 | |
|---|---|---|---|
| [Assets] | |||
| Cash and cash equivalents | 15,297,032 | -⚑ | -⚑ |
| Trade and other receivables | 944,135 | -⚑ | -⚑ |
| Inventory | 72,282 | -⚑ | -⚑ |
| Harmonized sales tax recoverable | 168,109 | -⚑ | -⚑ |
| Prepaid expenses | 130,299 | -⚑ | -⚑ |
| Property and equipment | 3,530,745 | -⚑ | -⚑ |
| Intangible assets | 4,516,828 | -⚑ | -⚑ |
| Long-term investments | 21,802,321 | 8,007,653 | 1,489 |
| Due from related parties | 129,779 | 1,835,533 | 39,670 |
| Total assets | 46,591,530 | 9,843,186 | 41,159 |
| [Liabilities] | |||
| Accounts payable and accruals | 815,573 | 5,000 | 6,515 |
| Deferred revenue | 851,619 | -⚑ | -⚑ |
| Due to related parties | 900 | 39,769 | 12,000 |
| Total liabilities | 1,668,092 | 44,769 | 18,515 |
| Equity/Partners' Capital | 44,923,438 | 9,798,417 | 22,644 |
| Total revenue | 17,799,061 | 904,828 | 90 |
| Total expenses | 9,682,044 | 2,500 | 1,500 |
| [Subtotal] | 8,117,017 | 902,328 | (1,410) |
| Other comprehensive income | 89,922 | 21,140 | -⚑ |
| Comprehensive income (loss) | 8,206,939 | 923,468 | (1,410) |
Note 10Accounts payable and accruals
| 2024 | 2023 | |
|---|---|---|
| Trade payables | 4,736,947 | 2,805,476 |
| Accrued liabilities | 1,665,051 | 2,500,596 |
| Accrued salary and benefits payable | 108,518 | 87,221 |
| Innu Trust | 120,816 | 49,854 |
| [Total] | 6,631,332 | 5,443,147 |
Note 11Due to governments
| 2024 | 2023 | |
|---|---|---|
| Indigenous Services Canada | 1,392,774 | 986,510 |
| First Nations and Inuit Health Branch | 3,819,841 | 1,831,603 |
| Service Canada | 5,000 | 5,000 |
| Canada Revenue Agency - employee deductions payable | 184 | 109 |
| [Total] | 5,217,799 | 2,823,222 |
Note 12Deferred revenue
| Balance, beginning of year | Recognized in revenue(other) | Contributions received(other) | Contributions repayable(other) | Balance, end of year(other) | |
|---|---|---|---|---|---|
| Indigenous Services Canada | 14,979,539 | (25,967,249) | 42,784,629 | (282,399) | 31,514,520 |
| First Nations and Inuit Health Branch | 4,798,011 | (8,112,951) | 11,411,430 | (2,774,374) | 5,322,116 |
| Service Canada | -⚑ | (557,385) | 665,586 | -⚑ | 108,201 |
| Canada Mortgage and Housing Corporation | -⚑ | (458,288) | 3,451,079 | -⚑ | 2,992,791 |
| Other | 644,535 | (2,390,277) | 1,904,486 | -⚑ | 158,744 |
| [Total] | 20,422,085 | (37,486,150) | 60,217,210 | (3,056,773) | 40,096,372 |
Note 13Advances from (to) related entities
| 2024 | 2023 | |
|---|---|---|
| Advances from Mushuau Innu General Store Inc. | 5,931,783 | 3,956,524 |
| Advances from Dobson Contracting Labrador Inc. | -⚑ | (6,245) |
| Advances to Labrador Innu Round Table | (352,999) | (9,548) |
| Advances to Innu Development Limited Partnership | (256,540) | (200,473) |
| [Total] | 5,322,244 | 3,740,258 |
Note 14Long-term debt
| 2024 | 2023 | |
|---|---|---|
| Royal Bank of Canada ("RBC") loan bearing interest at RBC Prime + 1% per annum, interest payment are due monthly. The loan matures on May 26, 2024, and on maturity the payment terms are expected to be renewed. | 3,179,094 | 3,342,555 |
| RBC loan bearing interest at 2.32% per annum, repayable in monthly blended payments of $48,180. The loan matured on November 20, 2023. | -⚑ | 383,872 |
| [Total] | 3,179,094 | 3,726,427 |
| Principal | |
|---|---|
| 2025 | 166,810 |
| 2026 | 157,296 |
| 2027 | 147,258 |
| 2028 | 136,667 |
| 2029 | 125,491 |
| [Subtotal] | 733,522 |
| Thereafter | 2,445,572 |
| [Total] | 3,179,094 |
Note 17Accumulated surplus
| 2024 | 2023 | |
|---|---|---|
| Equity in Ottawa Trust Funds | 320,943 | 249,630 |
| Equity in tangible capital assets | 82,607,775 | 82,192,050 |
| Investment in First Nation business entities | 32,498,442 | 29,648,499 |
| Surplus in operating funds | 12,527,105 | 17,301,187 |
| [Total] | 127,954,265 | 129,391,366 |
Note 18Government transfers
| 2024 | 2023 | |
|---|---|---|
| [Federal government operating transfer:] | ||
| Women's Shelter Canada | -⚑ | 235,000 |
| Public Safety Canada | 668,507 | 613,720 |
| Indigenous Services Canada | 18,594,657 | 23,056,817 |
| First Nations and Inuit Health Branch | 7,811,939 | 5,681,715 |
| Service Canada | 557,385 | 639,186 |
| [Total Federal government operating transfer] | 27,632,488 | 30,226,438 |
| [Federal government capital transfer:] | ||
| Indigenous Services Canada | 6,875,499 | 7,687,167 |
| First Nations and Inuit Health Branch | 305,705 | 237,947 |
| Public Safety Canada | 3,043 | 10,090 |
| Canada Mortgage and Housing Corporation | 458,288 | -⚑ |
| [Total Federal government capital transfer] | 7,642,535 | 7,935,204 |
| [Provincial government capital transfer:] | ||
| Government of Newfoundland and Labrador | 6,159 | 39,259 |
| [Provincial government operating transfer:] | ||
| Government of Newfoundland and Labrador | 2,817,495 | 2,449,222 |
| [Total] | 38,098,677 | 40,650,123 |
Note 19Consolidated expenses by object
| 2024 | 2023 | |
|---|---|---|
| Amortization | 7,792,925 | 10,792,518 |
| Salaries and wages | 12,886,767 | 12,674,375 |
| Supplies | 10,373,233 | 9,779,574 |
| Travel | 5,065,632 | 5,560,103 |
| Other | 4,461,891 | 5,122,272 |
| Professional fees | 6,392,191 | 3,561,254 |
| Repairs and maintenance | 3,295,035 | 3,376,943 |
| Community payouts | 614,000 | 595,500 |
| Interest | 199,854 | 216,858 |
| Telephone | 332,394 | 312,682 |
| [Total] | 51,413,922 | 51,992,079 |
Chief and council pay · FY 2023-2024
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.
No specific claims for this First Nation appear in the ISC reporting centre data.
Community context
Governance
- Chief
- PATRICIA ANDREW (term to 2028-10-09)
- Council
- 6 councillors
- Election system
- Custom Electoral System
- Tribal council
- None recorded
Show council
- MARY LUCY DICKER Councillor
- ANGELA PASTEEN Councillor
- SEBASTIAN PIWAS Councillor
- NACHELLE POKER Councillor
- LEN SCOTT RICH Councillor
- MATHIAS RICH Councillor
Reserves and location
- Reserves
- 1 reserves
- Region
- ATLANTIC
- Band office
- 55.9139, -61.1192
Show reserves
- NATUASHISH 2 · 4,267 ha
Population
- Registered
- 1,260
- On reserve
- 1,157
- As of
- May, 2026
- On own reserve: 1,157 · 560 M / 597 F
- On other reserves: 5 · 3 M / 2 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: 0 · 0 M / 0 F
- Off reserve: 98 · 42 M / 56 F
Show full breakdown
Registry facts from the ISC First Nation profiles; land and coordinates from federal open data.