RESOLUTION NO. 1989-93
SUBJECT: CAPITAL FUNDING TO REDUCE DEFICIT
WHEREAS New Post Band faces a deficit and is attempting to eliminate that deficit by a Financial Management Plan and through applications for alternative funding;
AND WHEREAS the Department of Indian Affairs has allocated almost all of the Band's Band Support Funding for the next three to five years to deficit reduction;
AND WHEREAS if the Department's allocation was implemented the Band would be unable to operate and provide services to is people on a projected budget of $39,000.00 per year without the risk of incurring a new deficit or neglecting its responsibilities to its people;
AND WHEREAS the New Post Band is submitting a plan to the Department that would involve the allocation of capital funds towards deficit reduction;
THEREFORE BE IT RESOLVED THAT the Mushkegowuk Council supports the request of the New Post Band that capital funds be used to reduce the Band's deficit.
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