Trusts and Fiscal Stewardship
The cash settlement (Capital Transfer) is around $140 million. Similar to the Nisga’a and other Treaty nations, monies from the Treaty Settlement Funds will be deposited in Trusts to generate annual interest payments, which can be used for the benefit of the people, community, and Nation.
Kitselas will receive $5+ million each year to cover exciting and new programs, services and governance costs. This additional ongoing funding is in addition to the money we receive now for programs and services.
Below, learn more about key Implementation questions and deliverables with respect to Kitselas’s Financial Settlement and engagement opportunities for Kitselas Citizens.
Key Implementation Questions
- How will the Trust(s) be set up and be accountable and managed?
- What are the key principles for withdrawing principal from the Trust?
- How will financial accountability be provided at both political and administrative levels?
Key Implementation Deliverables
- Ensuring the continuity of existing program funding and securing BCTC funding until the Effective Date.
- Negotiating a Fiscal Relationship Agreement (FRA) and Resource Revenue Sharing (e.g., Forestry FRRSA).
- Negotiating a Tax Treatment Agreement (TTA) with Canada
Manage increased annual funding under the CIRNAC Governance Model. - Developing investment policies that focus on strong financial accountability to manage the Capital Settlement Funds Trust.
Community Engagement Opportunities
Community input on Trust priorities, community role(s) in setting up Trust(s), identifying Members interested in Trust leadership and training, and developing investment policies with the People.