First Nations / Chawathil / 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 5
FA − FL = Net FA: matchedNet FA + NFA = Acc. surplus: matched
| 2024 | 2023 | |
|---|---|---|
| Cash and cash equivalents | 9,814,826 | 11,291,784 |
| Restricted cash (Note 4)n4 | 2,945,883 | 3,330,941 |
| Accounts receivable (Note 5)n5 | 1,042,314 | 2,000,708 |
| Investments (Note 6)n6 | 5,610,909 | 110 |
| Funds held in trust (Note 7)n7 | 7,644 | 9,051 |
| [Total of financial assets] | 19,421,576 | 16,632,594 |
| Accounts payable and accruals (Note 8)n8 | 4,213,204 | 4,558,327 |
| Deferred revenue (Note 9)n9 | 2,253,554 | 189,853 |
| Long-term debt (Note 10)n10 | 1,371,409 | 1,546,221 |
| [Total of financial liabilities] | 7,838,167 | 6,294,401 |
| Net financial assets | 11,583,409 | 10,338,193 |
| Tangible capital assets (Schedule 1) | 10,309,504 | 10,718,578 |
| Inventories held for use | 2,706 | 2,706 |
| Prepaid expenses | 616,058 | 646,122 |
| [Total non-financial assets] | 10,928,268 | 11,367,406 |
| Accumulated surplus (Note 12)n12 | 22,511,677 | 21,705,599 |
Consolidated Statement of Operations and Accumulated Surplus
FY 2024-2025 · PDF page 6
Rev − Exp = Surplus: matched
| 2024 | 2023 | |
|---|---|---|
| Indigenous Services Canada | 6,162,285 | 6,357,916 |
| Economic activity | 4,426,660 | 5,188,213 |
| Other funding | 2,192,847 | 2,259,353 |
| Province of BC | 489,772 | 260,184 |
| BC FN Gaming Revenue Sharing LP | 511,901 | 554,258 |
| Rental income | 135,725 | 166,755 |
| [Total revenue] | 13,919,190 | 14,786,679 |
| Administration | 1,388,513 | 1,707,830 |
| Education | 1,676,494 | 2,119,230 |
| Band Revenue | 3,770,612 | 4,169,572 |
| Housing | 2,825,544 | 1,588,984 |
| Social Development and Health Programs | 2,008,480 | 2,171,534 |
| Maintenance and Capital Infrastructure | 835,489 | 432,040 |
| Other | 607,980 | 579,766 |
| [Total expenditures] | 13,113,112 | 12,768,956 |
| Annual surplus | 806,078 | 2,017,723 |
| Accumulated surplus, beginning of year | 21,705,599 | 19,687,876 |
| Accumulated surplus, end of year | 22,511,677 | 21,705,599 |
Consolidated Statement of Change in Net Financial Assets
FY 2024-2025 · PDF page 7
| 2024 | 2023 | |
|---|---|---|
| Annual surplus | 806,078 | 2,017,723 |
| Purchases of tangible capital assets | (206,317) | (50,349) |
| Amortization of tangible capital assets | 615,391 | 588,666 |
| [Subtotal] | 409,074 | 538,317 |
| Acquisition of prepaid expenses | (616,058) | (646,122) |
| Use of prepaid expenses | 646,122 | 450,538 |
| [Subtotal] | 30,064 | (195,584) |
| Increase in net financial assets | 1,245,216 | 2,360,456 |
| Net financial assets, beginning of year | 10,338,193 | 7,977,737 |
| Net financial assets, end of year | 11,583,409 | 10,338,193 |
Consolidated Statement of Cash Flows
FY 2024-2025 · PDF page 8
| 2024 | 2023 | |
|---|---|---|
| Annual surplus | 806,078 | 2,017,723 |
| Amortization | 615,391 | 588,666 |
| [Subtotal] | 1,421,469 | 2,606,389 |
| Accounts receivable | 958,394 | (728,353) |
| Prepaid expenses | 30,064 | (195,584) |
| Restricted cash | 385,058 | (138,935) |
| Accounts payable and accruals | (345,123) | 1,367,834 |
| Deferred revenue | 2,063,701 | (233,558) |
| Funds held in trust | 1,407 | 42 |
| [Subtotal] | 4,514,970 | 2,677,835 |
| Advances of long-term debt | -⚑ | 153,043 |
| Repayment of long-term debt | (174,812) | (169,246) |
| [Subtotal] | (174,812) | (16,203) |
| Purchases of tangible capital assets | (206,317) | (50,349) |
| Changes in investments | (5,610,799) | -⚑ |
| Increase (decrease) in cash resources | (1,476,958) | 2,611,283 |
| Cash resources, beginning of year | 11,291,784 | 8,680,501 |
| Cash resources, end of year | 9,814,826 | 11,291,784 |
Schedules as published
Consolidated Schedule of Tangible Capital AssetsPDF p. 18
| Automotive | Buildings(other) | Equipment(other) | Infrastructure(other) | Housing(other) | Subtotal(other) | |
|---|---|---|---|---|---|---|
| Balance, beginning of year | 599,349 | 6,810,129 | 616,736 | 7,927,389 | 5,980,940 | 21,934,543 |
| Acquisition of tangible capital assets | -⚑ | -⚑ | -⚑ | 206,317 | -⚑ | 206,317 |
| Balance, end of year | 599,349 | 6,810,129 | 616,736 | 8,133,706 | 5,980,940 | 22,140,860 |
| Balance, beginning of year | 398,300 | 4,391,539 | 577,119 | 851,263 | 4,997,744 | 11,215,965 |
| Annual amortization | 23,695 | 302,577 | 11,901 | 127,269 | 149,949 | 615,391 |
| Balance, end of year | 421,995 | 4,694,116 | 589,020 | 978,532 | 5,147,693 | 11,831,356 |
| Net book value of tangible capital assets | 177,354 | 2,116,013 | 27,716 | 7,155,174 | 833,247 | 10,309,504 |
| Net book value of tangible capital assets (2023) | 201,049 | 2,418,590 | 39,617 | 7,076,126 | 983,196 | 10,718,578 |
Consolidated Schedule of Tangible Capital Assets (Continued)PDF p. 19
| Subtotal(budget) | 2024 | 2023 | |
|---|---|---|---|
| Balance, beginning of year | 21,934,543 | 21,934,543 | 21,884,194 |
| Acquisition of tangible capital assets | 206,317 | 206,317 | 50,349 |
| Balance, end of year | 22,140,860 | 22,140,860 | 21,934,543 |
| Balance, beginning of year | 11,215,965 | 11,215,965 | 10,627,299 |
| Annual amortization | 615,391 | 615,391 | 588,666 |
| Balance, end of year | 11,831,356 | 11,831,356 | 11,215,965 |
| Net book value of tangible capital assets | 10,309,504 | 10,309,504 | 10,718,578 |
| Net book value of tangible capital assets (2023) | 10,718,578 | 10,718,578 | ⚑ |
Consolidated Segmented Information 2024PDF p. 20
| Administration | Education(other) | Band Revenue(other) | Housing(other) | Social Development & Health(other) | Maintenance & Capital Infrastructure(other) | Other(other) | 2024(other) | |
|---|---|---|---|---|---|---|---|---|
| Indigenous Services Canada | 1,599,727 | 1,247,390 | -⚑ | 1,282,673 | 1,605,238 | 427,257 | -⚑ | 6,162,285 |
| Other government | 353,031 | 444,975 | 777,447 | 202,723 | 319,760 | 255,741 | -⚑ | 2,353,677 |
| Economic activities and other | 671 | -⚑ | 5,204,472 | 105,898 | 40,524 | 50,000 | 1,662 | 5,403,228 |
| [Total Revenue] | 1,953,429 | 1,692,365 | 5,981,919 | 1,591,294 | 1,965,522 | 732,998 | 1,662 | 13,919,190 |
| Amortization | -⚑ | -⚑ | 7,411 | -⚑ | -⚑ | -⚑ | 607,980 | 615,391 |
| Operating expenses | 602,499 | 239,987 | 1,357,638 | 2,751,712 | 166,606 | 696,469 | -⚑ | 5,814,911 |
| Salaries, wages and benefits | 738,522 | 90,875 | 1,657,179 | 69,134 | 441,136 | 120,447 | -⚑ | 3,117,293 |
| Program and services delivery expenses | 47,492 | 1,345,632 | 748,384 | 4,698 | 1,400,738 | 18,573 | -⚑ | 3,565,516 |
| [Total Expenses] | 1,388,513 | 1,676,494 | 3,770,612 | 2,825,544 | 2,008,480 | 835,489 | 607,980 | 13,113,112 |
| Surplus (deficit) before transfers | 564,916 | 15,871 | 2,211,307 | (1,234,249) | (42,958) | (102,491) | (606,318) | 806,078 |
| Transfers between programs | 2,474 | (2,474) | (206,317) | -⚑ | -⚑ | -⚑ | 206,317 | -⚑ |
| Annual surplus (deficit) | 567,390 | 13,397 | 2,004,990 | (1,234,249) | (42,958) | (102,491) | (400,000) | 806,078 |
Consolidated Segmented Information 2023PDF p. 20
| Administration | Education(other) | Band Revenue(other) | Housing(other) | Social Development & Health(other) | Maintenance & Capital Infrastructure(other) | Other(other) | 2023(other) | |
|---|---|---|---|---|---|---|---|---|
| Indigenous Services Canada | 1,604,715 | 1,602,084 | -⚑ | 905,495 | 1,869,106 | 376,516 | -⚑ | 6,357,916 |
| Other government | 474,645 | 242,020 | 653,168 | 429,080 | 254,539 | 267,544 | -⚑ | 2,320,996 |
| Economic activities and other | (5,358) | 252 | 6,013,923 | 97,297 | -⚑ | -⚑ | 1,653 | 6,107,767 |
| [Total Revenue] | 2,074,002 | 1,844,356 | 6,667,091 | 1,431,872 | 2,123,645 | 644,060 | 1,653 | 14,786,679 |
| Amortization | -⚑ | -⚑ | 8,900 | -⚑ | -⚑ | -⚑ | 579,766 | 588,666 |
| Operating expenses | 1,202,477 | 187,133 | 1,603,387 | 1,567,525 | 532,112 | 273,021 | -⚑ | 5,365,655 |
| Salaries, wages and benefits | 456,177 | 60,727 | 1,837,078 | 21,298 | 251,951 | 85,567 | -⚑ | 2,712,798 |
| Program and services delivery expenses | 49,176 | 1,871,370 | 720,207 | 161 | 1,387,471 | 73,452 | -⚑ | 4,101,837 |
| [Total Expenses] | 1,707,830 | 2,119,230 | 4,169,572 | 1,588,984 | 2,171,534 | 432,040 | 579,766 | 12,768,956 |
| Surplus (deficit) before transfers | 366,172 | (274,874) | 2,497,519 | (157,112) | (47,889) | 212,020 | (578,113) | 2,017,723 |
| Transfers between programs | (5,870) | -⚑ | (84,623) | 17,344 | -⚑ | 73,149 | -⚑ | -⚑ |
| Annual surplus (deficit) | 360,302 | (274,874) | 2,412,896 | (139,768) | (47,889) | 285,169 | (578,113) | 2,017,723 |
Notes to the financial statements
Verbatim, as published. Statement lines above link to their notes.
Note 4Restricted cash
| 2024 | 2023 | |
|---|---|---|
| CMHC operating reserve | 177,455 | 156,168 |
| CMHC replacement reserve | 546,218 | 455,368 |
| [Externally restricted subtotal] | 723,673 | 611,536 |
| Minors distribution restricted fund balance | 2,222,210 | 2,719,405 |
| [Total] | 2,945,883 | 3,330,941 |
Note 5Accounts receivable
| 2024 | 2023 | |
|---|---|---|
| Funding and trade receivables | 604,447 | 1,628,399 |
| Rent and member loan receivables, net of allowances | 437,867 | 372,309 |
| [Total] | 1,042,314 | 2,000,708 |
Note 6Investments
| 2024 | 2023 | |
|---|---|---|
| BC First Nation Gaming Revenue Sharing LP | 100 | 100 |
| BC First Nation Gaming Revenue Sharing General Partner Ltd. | 10 | 10 |
| [Measured at cost subtotal] | 110 | 110 |
| Term deposits | 5,610,799 | -⚑ |
| [Total] | 5,610,909 | 110 |
Note 7Funds held in trust
| 2024 | 2023 | |
|---|---|---|
| Balance, beginning of year | 7,515 | 7,515 |
| Balance, beginning of year | 1,536 | 1,578 |
| Interest | 1,663 | 1,653 |
| [Subtotal] | 3,199 | 3,231 |
| Less: Transfers to Nation | 3,070 | 1,695 |
| Balance, end of year | 129 | 1,536 |
| [Total] | 7,644 | 9,051 |
Note 8Accounts payable and accruals
| 2024 | 2023 | |
|---|---|---|
| Trade payables and accruals | 1,801,297 | 2,048,426 |
| Accrued interest | 8,019 | 8,172 |
| Member distributions payable | 2,403,888 | 2,501,729 |
| [Total] | 4,213,204 | 4,558,327 |
Note 9Deferred revenue
| Balance, beginning of year | Contributions received(other) | Contributions recognized(other) | Balance, end of year(other) | |
|---|---|---|---|---|
| ISC - Wastewater Systems (Q3TG) | 189,853 | -⚑ | 117,082 | 72,771 |
| ISC - Wastewater Systems (Q3OD) | -⚑ | 245,450 | -⚑ | 245,450 |
| ISC - Flood Mitigation (Q3HP) | -⚑ | 731,635 | -⚑ | 731,635 |
| ISC - FNFCF On-Reserve Housing (QA1V) | -⚑ | 162,711 | 98,451 | 64,260 |
| ISC - Capacity Enhancement (QA1D) | -⚑ | 80,000 | -⚑ | 80,000 |
| ISC - CFS Prevention (Q2C3) | -⚑ | 438,151 | -⚑ | 438,151 |
| ISC - CFS Operations (Q2C0) | -⚑ | 33,555 | -⚑ | 33,555 |
| ISC - CFS Emergency (Q2PK) | -⚑ | 6,101 | -⚑ | 6,101 |
| ISC - CFS Poverty (Q2PP) | -⚑ | 24,538 | -⚑ | 24,538 |
| FVACFSS - Prevention Funds | -⚑ | 557,093 | -⚑ | 557,093 |
| [Total] | 189,853 | 2,279,234 | 215,533 | 2,253,554 |
Note 10Long-term debt
| 2024 | 2023 | |
|---|---|---|
| Community Centre - Peace Hills Trust Company, blended monthly payments of $9,200 at prime plus 8.45% per annum, maturing September 2024. | 819,416 | 854,165 |
| Modular Housing - Peace Hills Trust Company, blended monthly payments of $2,630 at 5.00% per annum, maturing July 2024. | 247,654 | 268,094 |
| Project #12 - All Nations Trust Company mortgage, blended monthly payments of $2,378 at 3.29% per annum, maturing July 2027. | 89,989 | 115,125 |
| Project #11 - All Nations Trust Company mortgage, blended monthly payments of $1,787 at 3.70% per annum, maturing October 2027. | 71,890 | 90,316 |
| Tale'awtxw Aboriginal Capital Corporation, blended monthly payments of $1,953 at 8.00% per annum, maturing November 2026. | 55,996 | 74,193 |
| Project #10 - All Nations Trust Company mortgage, blended monthly payments of $2,140 at 1.13% per annum, maturing March 2026. | 50,738 | 75,679 |
| Tale'awtxw Aboriginal Capital Corporation, blended monthly payments of $2,005 at 12.00% per annum, maturing September 2026. | 35,726 | 68,649 |
| [Total] | 1,371,409 | 1,546,221 |
| Amount | |
|---|---|
| 2025 | 173,286 |
| 2026 | 175,463 |
| 2027 | 135,652 |
| 2028 | 99,734 |
| 2029 | 83,886 |
Note 12Accumulated surplus
| 2024 | 2023 | |
|---|---|---|
| Operating Surplus | 10,620,055 | 9,193,251 |
| Equity in Restricted Cash - CMHC Replacement and Operating Reserves | 723,673 | 611,535 |
| Equity in Restricted Cash - Minors Settlement Funds | 2,222,210 | 2,719,405 |
| Equity in Funds Held in Trust | 7,644 | 9,051 |
| Equity in Tangible Capital Assets | 8,938,095 | 9,172,357 |
| [Total] | 22,511,677 | 21,705,599 |