First Nations / Algonquins of Barriere Lake / 2023-2024
Audited consolidated financial statementsFY 2023-2024
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Statements as published · FY 2023-2024
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Consolidated Statement of Financial Position
FY 2023-2024 · PDF page 7
FA − FL = Net FA: matchedNet FA + NFA = Acc. surplus: matched
| 2024 | 2023 | |
|---|---|---|
| Financial assets | ||
| Cash and cash equivalents (Note 3)n3 | 13,438,381 | 12,076,698 |
| Accounts receivable (Note 4)n4 | 9,003,588 | 10,330,387 |
| Total financial assets | 22,441,969 | 22,407,085 |
| Liabilities | ||
| Bank indebtedness | 376,923 | -⚑ |
| Accounts payable and accruals (Note 6)n6 | 2,426,278 | 2,413,615 |
| Deferred revenue (Note 8)n8 | 24,873,026 | 24,767,831 |
| Long-term debt (Note 9)n9 | 1,390,755 | 266,812 |
| Total liabilities | 29,066,982 | 27,448,258 |
| Net debt | (6,625,013) | (5,041,173) |
| Non-financial assets | ||
| Tangible capital assets (Note 5)n5 | 14,122,319 | 9,618,315 |
| Total non-financial assets | 14,122,319 | 9,618,315 |
| Accumulated surplus | 7,497,306 | 4,577,142 |
Consolidated Statement of Operations and Accumulated Surplus
FY 2023-2024 · PDF page 8
Rev − Exp = Surplus: matched
| Schedules(other) | Budget 2024 (Unaudited)(budget) | 2024 | 2023 | |
|---|---|---|---|---|
| Revenues | ||||
| Indigenous Services Canada | ⚑ | 14,662,195 | 23,809,005 | 20,058,420 |
| Canadian Heritage | ⚑ | -⚑ | -⚑ | 137,000 |
| Province of Quebec (SAA) | ⚑ | -⚑ | 69,500 | 69,500 |
| First Nations Quebec and Labrador Health and Social Services (FNQLHSSC) | ⚑ | 75,000 | 38,173 | 166,853 |
| First Nations Human Resources Development Commission of Quebec (FNHRDCQ) | ⚑ | 338,623 | 407,498 | 315,613 |
| First Nations Education Council (FNEC) | ⚑ | 25,675 | 75,771 | 413,371 |
| NATION WABAN-AKI INC. | ⚑ | -⚑ | 847 | 48,000 |
| Administration fees | ⚑ | 933,307 | 608,399 | 746,159 |
| Other income | ⚑ | 575,000 | 575,747 | 167,608 |
| Investment income | ⚑ | -⚑ | 333,263 | 160,666 |
| Deferred revenue - prior year | ⚑ | 11,214,725 | 23,623,058 | 18,638,912 |
| Deferred revenue - current year | ⚑ | (565,086) | (24,873,026) | (23,623,058) |
| Canadian Nuclear Safety Commission (CNSC) | ⚑ | -⚑ | -⚑ | 15,000 |
| Recovery of prior year funding | ⚑ | -⚑ | 2,841 | 166,754 |
| Canada Environmental Assessment Agency (CEAA) | ⚑ | -⚑ | -⚑ | 5,000 |
| Canadian Institutes of Health Research(CIHR) | ⚑ | -⚑ | -⚑ | 96,000 |
| Donation | ⚑ | -⚑ | -⚑ | 3,000 |
| CMHC | ⚑ | -⚑ | 75,000 | -⚑ |
| Total revenues | ⚑ | 27,259,439 | 24,746,076 | 17,584,798 |
| Expenses | ||||
| Band Admin | 4 | 2,179,091 | 2,534,288 | 1,790,371 |
| Economic Development | 5 | 190,413 | 193,582 | 482,849 |
| Social Development | 6 | 1,921,645 | 1,880,091 | 1,837,881 |
| Employment and Training | 7 | 669,197 | 925,219 | 855,370 |
| Education | 8 | 9,700,927 | 4,789,254 | 3,730,241 |
| Health | 9 | 6,112,445 | 6,380,586 | 4,385,525 |
| Public Works | 10 | 4,010,963 | 3,982,397 | 3,767,170 |
| Daycare | 11 | 114,599 | 163,671 | 152,139 |
| Fund Balances | 12 | -⚑ | 976,824 | 598,610 |
| Total expenses | ⚑ | 24,899,280 | 21,825,912 | 17,600,156 |
| Surplus (deficit) before transfers | ⚑ | 2,360,159 | 2,920,164 | (15,358) |
| Transfers between programs | ||||
| Transfer between departments | ⚑ | (401,992) | -⚑ | -⚑ |
| Transfer to capital assets | ⚑ | (550,000) | -⚑ | -⚑ |
| Surplus (deficit) | ⚑ | 1,408,167 | 2,920,164 | (15,358) |
| Accumulated surplus, beginning of year | ⚑ | -⚑ | 3,384,801 | 3,637,899 |
| Prior period adjustment #1 | ⚑ | -⚑ | 1,192,341 | 954,601 |
| Accumulated surplus, beginning of year, as restated | ⚑ | -⚑ | 4,577,142 | 4,592,500 |
| Accumulated surplus, end of year | ⚑ | 1,408,167 | 7,497,306 | 4,577,142 |
Consolidated Statement of Change in Net Debt
FY 2023-2024 · PDF page 9
| Budget 2024 (Unaudited)(budget) | 2024 | 2023 | |
|---|---|---|---|
| Annual surplus (deficit) | 1,408,167 | 2,920,164 | (15,358) |
| Purchases of tangible capital assets | -⚑ | (5,480,828) | (2,824,160) |
| Amortization of tangible capital assets | -⚑ | 976,824 | 598,610 |
| Prior year adjusment | -⚑ | -⚑ | 1,192,341 |
| Use of prepaid expenses | -⚑ | -⚑ | 32,200 |
| Decrease (increase) in net debt | 1,408,167 | (1,583,840) | (1,016,367) |
| Net debt, beginning of year | -⚑ | (5,041,173) | (4,024,806) |
| Net debt, end of year | 1,408,167 | (6,625,013) | (5,041,173) |
Consolidated Statement of Cash Flows
FY 2023-2024 · PDF page 10
| 2024 | 2023 | |
|---|---|---|
| Cash provided by (used for) the following activities | ||
| Operating activities | ||
| Cash receipts from contributors | 26,135,151 | 21,179,330 |
| Cash paid to suppliers | (13,854,250) | (11,868,867) |
| Cash paid to employees | (6,903,523) | (5,187,664) |
| Interest on long-term debt | (35,748) | (12,050) |
| [total] | 5,341,630 | 4,110,749 |
| Financing activities | ||
| Advances of long-term debt | 1,265,689 | -⚑ |
| Repayment of long-term debt | (141,731) | (67,373) |
| Debt Indebtedness | 376,923 | -⚑ |
| [total] | 1,500,881 | (67,373) |
| Capital activities | ||
| Purchases of tangible capital assets | (5,480,828) | (2,824,160) |
| Increase in cash resources | 1,361,683 | 1,219,216 |
| Cash resources, beginning of year | 12,076,698 | 10,857,482 |
| Cash resources, end of year | 13,438,381 | 12,076,698 |
Schedules as published
Schedule 1 - Consolidated Schedule of Tangible Capital AssetsPDF p. 18
| Land | Buildings(other) | Roads(other) | Infrastructure assets(other) | Machinery & Equipment(other) | Vehicles(other) | 2024(other) | 2023(other) | |
|---|---|---|---|---|---|---|---|---|
| Cost | ||||||||
| Balance, beginning of year | 2,000 | 10,924,391 | 3,612,651 | 509,447 | 5,465,608 | 829,330 | 21,343,427 | 18,519,267 |
| Acquisition of tangible capital assets | -⚑ | 2,722,399 | 320,008 | -⚑ | 1,619,423 | 818,998 | 5,480,828 | 2,824,160 |
| Balance, end of year | 2,000 | 13,646,790 | 3,932,659 | 509,447 | 7,085,031 | 1,648,328 | 26,824,255 | 21,343,427 |
| Accumulated amortization | ||||||||
| Balance, beginning of year | -⚑ | 4,514,516 | 2,006,660 | 83,580 | 4,395,906 | 724,450 | 11,725,112 | 11,126,502 |
| Annual amortization | -⚑ | 310,843 | 88,300 | 21,293 | 402,074 | 154,314 | 976,824 | 598,610 |
| Balance, end of year | -⚑ | 4,825,359 | 2,094,960 | 104,873 | 4,797,980 | 878,764 | 12,701,936 | 11,725,112 |
| Net book value of tangible capital assets | 2,000 | 8,821,431 | 1,837,699 | 404,574 | 2,287,051 | 769,564 | 14,122,319 | 9,618,315 |
| 2023 Net book value of tangible capital assets | 2,000 | 6,409,875 | 1,605,991 | 425,867 | 1,069,702 | 104,880 | 9,618,315 | ⚑ |
Schedule 2 - Schedule of Consolidated Expenses by ObjectPDF p. 19
| Budget 2024 (unaudited)(budget) | 2024 (Unaudited) | 2023 (Unaudited) | |
|---|---|---|---|
| Consolidated expenses by object | |||
| Administration | 933,307 | 608,399 | 746,159 |
| Amortization | -⚑ | 976,824 | 598,610 |
| Bad debts | -⚑ | 42,898 | 70,000 |
| Bank charges and interest | 3,865 | 44,697 | 42,477 |
| Food and beverage | 148,774 | 266,327 | 218,913 |
| Donation | 2,160 | -⚑ | 2,000 |
| Consulting | 1,065,358 | 1,339,798 | 1,053,705 |
| Community support and wellness | 3,599,495 | 20,100 | 7,989 |
| Honouraria(um) | 16,624 | 155,202 | 77,146 |
| Insurance | 89,529 | 122,615 | 92,957 |
| Interest on long-term debt | -⚑ | 35,748 | 12,050 |
| Medical supplies | -⚑ | 38,417 | 835 |
| Meeting | -⚑ | 4,562 | 168 |
| Miscellaneous | -⚑ | 6,451 | 5,250 |
| Equipment Rentals and Leases | 211,590 | 354,058 | 275,307 |
| Office supplies | 27,873 | 334,889 | 59,602 |
| Professional fees | 94,204 | 257,510 | 311,178 |
| Rent | -⚑ | 105,896 | 41,405 |
| Repairs and maintenance | 2,186,049 | 221,305 | 125,243 |
| Materials | 630,031 | 1,231,351 | 1,148,743 |
| Salaries and benefits | 5,070,800 | 6,903,523 | 5,187,664 |
| Student expenses | 2,016,203 | 616,567 | 561,118 |
| Supplies | -⚑ | 1,234 | 7,547 |
| Telephone | 41,553 | 67,540 | 71,999 |
| Training | -⚑ | 104,409 | 179,166 |
| Travel | 720,105 | 1,849,098 | 1,139,484 |
| Tuition costs | 1,736,811 | 275,345 | 199,487 |
| Utilities | -⚑ | 960 | -⚑ |
| Tuition | -⚑ | 2,905 | 2,165 |
| Vehicle | 2,457 | 31,233 | 37,554 |
| Events and Workshops | 194,164 | 170,828 | 183,870 |
| Dues, Licenses and Fees | 2,234 | 24,973 | 4,124 |
| Fuel | 2,002,875 | 1,827,296 | 2,198,710 |
| IT and Computer Expense | 185,918 | 135,781 | 91,177 |
| Contract labour | 3,917,301 | 3,647,173 | 2,846,354 |
| [total] | 24,899,280 | 21,825,912 | 17,600,156 |
Schedule 3 - Consolidated Schedule of Revenue and Expenses and Accumulated Surplus (Deficit)PDF p. 20
| Schedule #(other) | Budget (unaudited)(budget) | ISC Revenue | Other Revenue | Total Revenue(other) | Total Expenses(other) | Adjustments/ Transfers(other) | From (To) Current Surplus (Deficit)(other) | Prior Year Surplus (Deficit)(other) | |
|---|---|---|---|---|---|---|---|---|---|
| Segment Schedule | |||||||||
| Band Admin | 4 | (445,457) | 1,036,293 | 1,544,389 | 2,580,682 | 2,534,288 | (896,317) | (849,923) | (37,069) |
| Economic Development | 5 | (95,419) | 94,994 | 219,655 | 314,649 | 193,582 | (204,112) | (83,045) | (259,508) |
| Social Development | 6 | -⚑ | 2,892,657 | (802,681) | 2,089,976 | 1,880,091 | (60,852) | 149,033 | (40,824) |
| Employment and Training | 7 | (330,574) | -⚑ | 407,498 | 407,498 | 925,219 | 552,567 | 34,846 | (9,099) |
| Education | 8 | 3,737,554 | 7,349,349 | (2,180,010) | 5,169,339 | 4,789,254 | (322,955) | 57,130 | 9,453 |
| Health | 9 | 35,208 | 7,086,133 | (253,192) | 6,832,941 | 6,380,586 | (745,964) | (293,609) | (255,403) |
| Public Works | 10 | (1,453,546) | 5,349,579 | 2,001,412 | 7,350,991 | 3,982,397 | (3,966,866) | (598,272) | (1,648,458) |
| Daycare | 11 | (39,599) | -⚑ | -⚑ | -⚑ | 163,671 | 163,671 | -⚑ | -⚑ |
| Fund Balances | 12 | -⚑ | -⚑ | -⚑ | -⚑ | 976,824 | 5,480,828 | 4,504,004 | 2,225,550 |
| Total | ⚑ | 1,408,167 | 23,809,005 | 937,071 | 24,746,076 | 21,825,912 | -⚑ | 2,920,164 | (15,358) |
Notes to the financial statements
Verbatim, as published. Statement lines above link to their notes.
Note 8Deferred revenue
| Balance, beginning of year | Contributions received(other) | Amount recognized as revenue(other) | Balance, end of year(other) | |
|---|---|---|---|---|
| Indigenous Services Canada and Health Canada | 22,010,750 | 23,809,005 | 22,424,755 | 23,395,000 |
| Indigenous Services Canada 2023-2024 | 1,144,774 | -⚑ | 1,144,774 | -⚑ |
| First Nations Human Resources Development Commission of Quebec | -⚑ | 407,498 | 407,498 | -⚑ |
| First Nations Education Council | 1,489,059 | 75,771 | 229,449 | 1,335,381 |
| FNQLHSSC | 20,507 | 38,173 | -⚑ | 58,680 |
| Canadian Institutes of Health Research (CIHR) | 96,000 | -⚑ | 12,035 | 83,965 |
| CMHC | -⚑ | 75,000 | 75,000 | -⚑ |
| Other | 6,741 | 3,066 | 9,807 | -⚑ |
| Total | 24,767,831 | 24,408,513 | 24,303,318 | 24,873,026 |
Note 9Long-term debt
| 2024 | 2023 | |
|---|---|---|
| Vehicle financing loan, interest at 4.49%, due December 31, 2025, monthly principle and interest payments of $2,039, secured by a vehicle having a net carrying amount of $26,845 | 41,116 | 63,203 |
| Heavy Machinery loan, interest at 3.80%, due March 13, 2027, monthly principle and interest payments of $4,579, secured by a Heavy Michinery having a net carrying amountof $148,912 | 155,566 | 203,609 |
| Heavy Equipment loan, interest at 6.84%, due November 17, 2028, monthly principle and interest payments of $24,973 | 1,194,073 | -⚑ |
| [total] | 1,390,755 | 266,812 |
| Principal(budget) | Interest | Total | |
|---|---|---|---|
| 2025 | 297,851 | 81,580 | 379,431 |
| 2026 | 310,593 | 62,556 | 373,149 |
| 2027 | 311,598 | 43,024 | 354,622 |
| 2028 | 275,986 | 23,687 | 299,673 |
| 2029 | 194,727 | 5,036 | 199,763 |
| [total] | 1,390,755 | 215,883 | 1,606,638 |