Annual General Meeting of Chippewas of Nawash Unceded First Nation Coldwater Trust
"Join us on May 25, 2017, for the Annual General Meeting of the Chippewas of Nawash Unceded First Nation Coldwater Trust. Get involved in discussions and decisions crucial to the community's future."
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Edkaagmik Nbiizh Neyaashiinigamiingninwag Edbendaagzijig Trust (Chippewas of Nawash Unceded First Nation Coldwater Trust) Annual General Meeting May 25, 2017
AGENDA What is a trust? What is the purpose of the Trust? A brief history of the Trust to date How is the Trust managed? How much did the Trust make? How much did the Trust spend? How much have Community members/programs received? How much has Band Council received?
What is a trust? A trust is an arrangement whereby one or more persons (the trustees) hold legal title to property (the trust property) for the benefit of another person or a group of persons (the beneficiaries). The person or party who creates the trust and puts (settles) property into it is called the settlor.
What is the purpose of the Trust? the Trust Property is intended to be held for the long term benefit of the First Nations as Beneficiary (Clause 2 of Deed of Trust)
What is the purpose of the Trust? Trust Property and Income can be used for: the purchase of land; the advancement of education; the promotion and protection of heritage and culture; the promotion of health; economic development; funding for housing; and funding for the enhancement of governance
A Brief History of the Trust 2012 The Trust was established when the Deed of Trust was signed by Band Council (the Settlor) and the original Trustees on October 16, 2012 The five original Trustees were appointed by Council T. E. Wealth was hired as Investment Consultant The Trustees designed the per capita distribution process In December, settlement proceeds of $29,626,424 were received from the government of Canada
A Brief History of the Trust 2013 In January, per capita distribution payments were made to community members Investment managers were interviewed and the Trustees hired the two current managers, Dixon Mitchell and Guardian Capital The proposal application process was designed and later refined and disseminated to the community In August, an election was held to appoint the first Elected Trustees; the successful candidates were Larissa Johnston (4- year term) and Elisa Levi (2-year term)
A Brief History of the Trust 2013 (cont.) 10 proposals were received by the Trustees, four of which were approved: 1) Chippewas of Nawash Fire Department rescue equipment and training - $18,560.05 2) Chippewas of Nawash Home and Community Care Program Lifeline equipment and monitoring - $12,108 3) Chippewas of Nawash Post Secondary Assistance Program education support - $65,000 4) Chippewas of Nawash Unceded First Nation Comprehensive Community Plan - $90,285
2013 Statistics PER CAPITA DISTRIBUTION ADULTS 1947 Total number of per capita payments 1080 Cheques picked up 277 Payments deposited to bank accounts 385 Payments mailed 205 Outstanding payments PER CAPITA DISTRIBUTION MINORS 23 Minors paid in 2013 7 Minors eligible for payment in 2013 unpaid
2013 Statistics TOTAL PAYOUTS TO THE COMMUNITY $3,135,646 Per Capita Distribution to Adults Per Capita Distribution to Minors on their 18th birthday 41,584 256,379 Surplus Income to Chippewas of Nawash Unceded First Nation 185,953 Approved Projects $3,619,516 Total
Also in 2013: The Trustees designed procedures for the tracking of: per capita distributions payments to minors calculation of an amount to be added to minor payment to reflect income earned before age 18 authorized expenses unpaid adults and minors
In 2014: The Trust website was completed and the Trustees received training on how to maintain it One Trustee (Elisa Levi) attended the Aboriginal Trust & Investment Workshop in May and another Trustee (Larissa Johnston) attended the NATOA Conference in Vancouver The Trustees decided to post Trustee Meeting Minutes on the Trust website to be accessed by community members The proposal application process was reviewed and further improvements were made with the aid of a subject matter expert (Marilyn Struthers, Ontario Trillium Foundation) The Trustees provided the community with a proposal workshop and webinar
In 2014 (cont.): In June, the Trustees provided a recap presentation to Chief and Council on Trust activities from inception to date In April, the inaugural Annual General Meeting was held at the Community Centre The Trustees decided to purchase publication space on the First Nation newsletter The Trustees received 20 proposal applications, 16 of which were approved and/or deferred; payments were made at the end of December In April and December, T. E. Wealth presented to the Trustees on the performance of the Trust s investment managers
2014 Statistics TOTAL PAYOUTS TO THE COMMUNITY Per Capita Distribution to Minors on their 18th birthday $ 120,479 541,848 Surplus Income to Chippewas of Nawash Unceded First Nation 525,978 Approved Projects/Applications $1,188,305 Total 16 Minors eligible for payment in 2014 remain unpaid
In 2015: Elisa Levi was re-elected as an Elected Trustee; Lana Landon was appointed by Council as an Appointed Trustee, replacing Anthony Chegahno Larissa Johnston and Paul Jones attended the 2ndannual NATOA Conference in Calgary In May, the second Annual General Meeting was held at the Maadookii Centre In June, Elisa Levi, together with Scotiatrust and T. E. Wealth, conducted a webinar for the community in conjunction with the Annual General Meeting
In 2015 (cont.): In August, the corporate Trustee provided a recap presentation to Chief and Council on Trust activities from inception to date In May and September, T. E. Wealth presented to the Trustees on the performance of the Trust s investment managers The Trustees received 35 proposal applications, 20 of which were approved and/or deferred; payments were made at the end of December
2015 Statistics TOTAL PAYOUTS TO THE COMMUNITY Per Capita Distribution to Minors on their 18th birthday $ 52,545 10,823 Per Capita Distribution to Adults (6) 342,619 Surplus Income to Chippewas of Nawash Unceded First Nation 805,093 Approved Projects/Applications $1,211,080 Total 17 Minors eligible for payment in 2015 remain unpaid
In 2016: Elisa Levi and Lana Landon attended the 3rdannual NATOA Conference in Toronto In May, the third Annual General Meeting was held at the Maadookii Centre In June, Elisa Levi, together with Scotiatrust, conducted a webinar for the community in conjunction with the Annual General Meeting
2016 Statistics TOTAL PAYOUTS TO THE COMMUNITY Per Capita Distribution to Minors on their 18th birthday $ 56,833 21,645 Per Capita Distribution to Adults (6) TBD Surplus Income to Chippewas of Nawash Unceded First Nation 903,260 Approved Projects/Applications TBD Total 11 Minors eligible for payment in 2016 remain unpaid
How is the Trust managed? In February 2013, T. E. Wealth began the selection process to hire investment managers to manage the Trust assets The Trustees decided to hire Dixon Mitchell and Guardian Capital to manage separate portfolios Dixon Mitchell employs a value investment style, whereas Guardian Capital uses a growth approach Market Value of Trust portfolios: December 31, 2015 December 31, 2016 Dixon Mitchell $14,683,572 $15,231,311 Guardian Capital $14,782,190 $15,054,917 Totals $29,465,762 $30,286,228
How much did the Trust spend? The Deed of Trust directs the Trustees to use their best efforts in limiting Authorized Expenses in any fiscal year to 1% of the market value of the Trust for that year Authorized Expenses includes all expenses reasonably incurred by the Trustees in administering the Trust, such as administrative, accounting, legal and investment fees and costs associated with member/Trustee meetings. In 2015, the Trust expenses totalled $271,962* - 0.92% of Trust market value as at December 31, 2015 In 2016, the Trust expenses totalled $269,065* - 0.89% of Trust market value as at December 31, 2016
2016 Expenses Trustee Out of Pocket Website Trustee Training Annual General Meeting Trustee Honoraria Miscellaneous MNP Publicity/Communication T.E. Wealth Guardian Capital Dixon Mitchell Corporate Trustee $ 2,013.00 $ $ 3,539.00 $ 850.00 $ 7,175.00 $ $ 10,142.00 $ $ 42,548.00 $ 72,883.00 $ 70,086.00 $ 59,704.00 $ 269,065.00 75.00 50.00 -
Approved 2017 Budget Trustee Out of Pocket Website Maintenance Trustee Education Annual General Meeting Trustee Election Trustee Honoraria Miscellaneous MNP Publicity/Communication T.E. Wealth Guardian Capital Dixon Mitchell Corporate Trustee $ 2,500.00 $ 1,500.00 $ 7,000.00 $ 3,000.00 $ 2,000.00 $ 8,000.00 $ 2,000.00 $ 8,000.00 $ 3,000.00 $ 46,000.00 $ 75,000.00 $ 72,000.00 $ 64,000.00 $ 296,000.00
2016 Approved Proposals Amount Requested Proposal # Applicant Primary Contact Purpose Trust Agreement Criteria Approved Amount 2016-001 Chippewas of Nawash Housing Department Shane Chegahno housing needs assessment housing $94,750.00 $94,750.00 2016-003 Chippewas of Nawash Health Centre Norma Tobey hiring additional PSWs health & education $73,517.37 $72,267.37 2016-004 Native Child Welfare Program Chippewas of Nawash Economic Development Department Chippewas of Nawash Economic Development Department Veronica Smith Comprehensive Review & Community Engagement governance $75,000.00 $75,000.00 2016-006 Pam Linklater Neyaashiinigmiing Annual Pow Wow 2017 culture $20,600.00 $10,000.00 2016-008 Pam Linklater small business loan and grant program economic development $78,000.00 $30,000.00 2016-009 Neebeesh Elliott Chippewas of Nawash Fisheries Assessment Program Neebesh Elliott tuition and education-related expenses education $23,926.05 $10,000.00 2016-010 Ryan Lauzon Fisheries Assessment Building infrastructure $160,000.00 $160,000.00 2016-011 Chippewas of Nawash Lands Department Wendall Nadjiwon development of matrimonial real property law governance $106,319.00 $106,319.00 2016-012 Native Child Welfare Program Veronica Smith Right to Play health and culture $25,000.00 $25,000.00 2016-013 Madookii Seniors Group M. Christine Keeshig build fire keepers lodge culture & heritage $113,046.00 $73,046.00 2016-015 Chastity Jenner Chastity Jenner advanced studies culture $4,568.40 $4,568.40 2016-020 Patricia Akiwenzie Patricia Akiwenzie Anishanabewomin Language Camp culture $79,750.00 $79,750.00 2016-026 Chippewas of Nawash Social Services Pam Linklater community Garden Project culture $8,920.00 $8,920.00 2016-027 Ralph Akiwenzie Scholarship Judy Nadjiwan scholarship grants education $35,000.00 $25,000.00 2016-029 John K.L. Keeshig John K. L. Keeshig Three Fires Ceremonies culture $13,640.00 $13,640.00 2016-031 Chippewas of Nawash Post Secondary Program Judy Nadjiwan student education funding education $115,000.00 $115,000.00 Totals: $1,027,036.82 $903,260.77
How much has Council received? The Deed of Trust directs the Trustees to pay to the First Nation any surplus income unutilized in a fiscal year For 2013, the First Nation, by way of its Chief and Council, received surplus income $256,379 from the Trust For 2014, the First Nation received $541,848 of surplus income For 2015, the First Nation received $342,619 of surplus income The surplus income amount for 2016 has yet to determined Surplus income is determined by the Auditor following completion of the annual financial statements.
THANK YOU QUESTIONS?
