Audited consolidated financial statementsFY 2024-2025

Certified source-faithful captureCompatibility analytics availableFidelity audit passedNo OCR

Statements as published · FY 2024-2025

3 parser diagnostics

FY 2024-2025 · PDF page 3

FA − FL = Net FA: matchedNet FA + NFA = Acc. surplus: matched

	2025	2024 (Restated)
Financial assets
Cash (Note 4)n4	2,997,529	2,914,387
Accounts receivable (Note 5)n5	3,792,228	2,132,259
Investments (Note 6)n6	1,677,006	2,000,731
[total financial assets]	8,466,763	7,047,377
Liabilities
Accounts payable and accruals (Note 7)n7	2,244,102	901,421
Deferred revenue (Note 8)n8	5,985,634	3,434,809
Long-term debt (Note 9)n9	487,625	156,250
[total liabilities]	8,717,361	4,492,480
Net financial assets (net debt)	(250,598)	2,554,897
Non-financial assets
Tangible capital assets (Schedule 1)	4,600,164	2,333,892
Prepaid expenses	45,211	269,487
[total non-financial assets]	4,645,375	2,603,379
Accumulated surplus	4,394,777	5,158,276

FY 2024-2025 · PDF page 4

Rev − Exp = Surplus: matched

	Schedules(other)	2025	2024 (Restated)
Revenue
Indigenous Services Canada (Note 13)n13	⚑	1,966,858	1,928,901
Government of Northwest Territories	⚑	2,357,014	2,057,942
Government of Canada	⚑	2,254,655	880,020
Dehcho First Nations	⚑	871,379	660,370
Other	⚑	1,689,892	1,156,480
Revenue deferred in prior year (Note 8)n8	⚑	3,484,809	2,749,414
Revenue deferred to subsequent year (Note 8)n8	⚑	(5,985,634)	(3,484,809)
[total revenue]	⚑	6,638,973	5,948,318
Segment expenses
Indigenous Services Canada	4	608,578	1,764,350
Government of Northwest Territories	5	2,926,646	3,108,395
Other	6	250,417	290,059
Dehcho First Nation	7	431,385	487,148
Government of Canada	8	2,480,583	661,438
Liidlii Kue Society	9	381,138	228,698
Total segment expenses (Schedule 2)	⚑	7,078,747	6,540,088
Deficit before other items	⚑	(439,774)	(591,770)
Other items
Loss on investments (Schedule 11)	⚑	(323,725)	(195,835)
Annual deficit	⚑	(763,499)	(787,605)

FY 2024-2025 · PDF page 5

	2025	2024 (Restated)
Accumulated surplus, beginning of year, as previously stated	4,074,608	4,806,285
Correction of an error (Note 3)n3	1,083,668	1,139,596
Accumulated surplus, beginning of year, as restated	5,158,276	5,945,881
Annual deficit	(763,499)	(787,605)
Accumulated surplus, end of year	4,394,777	5,158,276

FY 2024-2025 · PDF page 6

	2025	2024 (Restated)
Annual deficit	(763,499)	(787,605)
Purchases of tangible capital assets	(2,455,593)	(15,882)
Amortization of tangible capital assets	189,321	97,512
Use of prepaid expenses	224,276	783,199
Change in net financial assets (net debt)	(2,805,495)	77,224
Net financial assets, beginning of year	2,554,897	2,477,673
Net financial assets (net debt), end of year	(250,598)	2,554,897

FY 2024-2025 · PDF page 7

	2025	2024 (Restated)
Cash provided by (used for) the following activities
Operating activities
Annual deficit	(763,499)	(787,605)
Amortization	189,321	97,512
Loss on investments	323,725	195,835
[subtotal]	(250,453)	(494,258)
Changes in working capital accounts
Accounts receivable	(1,659,969)	(1,117,038)
Prepaid expenses	224,276	783,199
Accounts payable and accruals	1,342,681	(207,133)
Deferred revenue	2,550,825	715,393
[total operating activities]	2,207,360	(319,837)
Financing activities
Advances of long-term debt	372,000	-⚑
Repayment of long-term debt	(40,625)	(91,042)
[total financing activities]	331,375	(91,042)
Capital activities
Purchases of tangible capital assets	(2,455,593)	(15,882)
Increase (decrease) in cash resources	83,142	(426,761)
Cash resources, beginning of year	2,914,387	3,341,148
Cash resources, end of year	2,997,529	2,914,387

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

Note 2Significant accounting policies (Amortization)

Note 3Correction of error

	Previously stated(budget)	Correction	Restated
As at March 31, 2024
Deferred contributions - liability	$1,083,668	($1,083,668)	$0
Accumulated surplus	$4,074,608	$1,083,668	$5,158,276
For the year-ended March 31, 2024
Amortization of deferred contributions - revenue	$55,928	($55,928)	$0
Annual deficit	($731,677)	($55,928)	($787,605)
Accumulated surplus, beginning of year	$4,806,285	$1,139,596	$5,945,881
Accumulated surplus, end of year	$4,074,608	$1,083,668	$5,158,276

Note 4Cash

Note 5Accounts receivable

	2025	2024
Trade receivable	565,914	320,741
Government of Canada	2,287,082	689,400
Indigenous Services Canada	353,854	597,537
Government of Northwest Territories	613,137	521,841
Dehcho First Nation	177,794	269,400
Goods and Services Tax	133,629	73,431
Due from Nogha Enterprises Ltd.	656,804	656,804
Due from 507409 NWT Ltd.	819,651	819,651
[subtotal]	5,607,865	3,948,805
Less: Allowance for doubtful accounts	1,815,637	1,816,546
[total]	3,792,228	2,132,259

Note 6Investments

	2025	2024
Measured at cost:
Deh Cho Helicopters Regional Limited Partnership - 14.3%	5,000	5,000
Modified equity method:
Investment in Nogha Enterprises Ltd. (Schedule 10)	2,147,441	2,018,559
Investment in 507409 NWT Ltd. (Schedule 10)	(475,435)	(22,828)
[subtotal modified equity]	1,672,006	1,995,731
[total]	1,677,006	2,000,731

Note 7Accounts payable and accruals

Note 8Deferred revenue

	2025	2024
Government of Canada	4,111,442	2,437,104
Government of Northwest Territories	885,708	521,009
Decho First Nations	650,258	387,778
The Four Pillars Society	200,000	-⚑
Other	138,226	138,918
[total]	5,985,634	3,484,809

Note 9Long-term debt

	2025	2024
Term loan payable in monthly instalments of $3,125 including interest at prime (4.95%) plus 1.00% per annum, due April 2028, secured by a General Security Agreement and guarantee from Liidlii Kue First Nation.	115,625	156,250
Term loan payable in monthly instalments of $1,240 plus interest at prime (4.95%) plus 1.50% per annum, due May 2029, secured by a General Security Agreement and guarantee from Liidlii Kue Society.	372,000	-⚑
[subtotal]	487,625	156,250
Less: current portion	52,000	40,625
[total]	435,625	115,625

Note 11Commitments