DARCY PAUL

Chief

MARY ARCHIE

Councillor

JAMIE COMMODORE

Councillor

WILLY HALL

Councillor

NICHOLAS POINT

Councillor

SKOWKALE FIRST NATION FINANCIAL SUMMARY
Fiscal Year 2024-2025 (Ending March 31, 2025)

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DISCLAIMER: This financial summary was generated using artificial intelligence
based on publicly available audited financial statements and has been reviewed
by a human analyst. While care has been taken to ensure accuracy, users should
verify critical information against the original audited financial statements
prepared by Manning Elliott LLP.

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EXECUTIVE SUMMARY

Skowkale First Nation reported total revenue of $17,512,633, a decrease of 28.9%
from the prior year, primarily due to reduced Indigenous Services Canada transfers.
The Nation generated an annual surplus of $8,796,499, down 53.2% from 2024. Cash
increased by $3,618,991 to $36,946,237. Long-term debt increased by $1,590,903 to
$3,939,084, primarily due to new CMHC financing for housing development. Net
financial assets decreased 10.7% to $30,539,674. The Nation maintained accumulated
surplus of $81,139,868, up 16.5%, bolstered by a $2,712,728 surplus assumed from
SAY Lands amalgamation. Investment portfolio grew 12.0% to $4,562,453. Business
entity and partnership income totaled $664,199. The operating margin remained strong
at 50.2%. The Nation demonstrates continued financial strength with substantial
cash reserves and strategic investments in housing infrastructure.

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FINANCIAL POSITION

Total Assets: $94,578,065
- Financial Assets: $43,977,939 (includes Cash: $36,946,237)
- Tangible Capital Assets: $50,591,897
- Property Under Development: $0

Total Liabilities: $13,438,265
- Long-term Debt: $3,939,084
- Accounts Payable: $4,705,769
- Deferred Revenue: $4,570,713
- Deposits: $222,699

Net Financial Assets: $30,539,674 (down 10.7% from prior year)
Accumulated Surplus: $81,139,868 (up 16.5% from prior year)

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REVENUE & OPERATIONS

Total Revenue: $17,512,633 (down 28.9% from prior year)

Major Revenue Sources:
- Indigenous Services Canada: $5,023,863 (28.7%)
- Grants and Other Revenues: $4,492,250 (25.7%)
- Property Taxes: $2,483,777 (14.2%)
- First Nation Goods and Services Tax: $1,474,814 (8.4%)
- Interest Income: $1,463,406 (8.4%)
- First Nations Health Authority: $1,086,140 (6.2%)
- Net Income from Government Business Partnerships: $614,347 (3.5%)
- Gaming Revenue: $318,841 (1.8%)
- Rental Income: $215,779 (1.2%)
- Land Fees: $126,581 (0.7%)
- First Nations Education Steering Committee: $97,211 (0.6%)
- Sto:lo Service Agency Society: $54,372 (0.3%)
- Net Income from Government Business Enterprises: $49,852 (0.3%)
- School District #33: $11,400 (0.1%)

Total Expenditures: $8,716,134 (up 49.4% from prior year)

Major Program Expenditures:
- Special Projects: $1,256,004 (14.4%)
- Lands: $934,565 (10.7%)
- Childcare Centre: $874,723 (10.0%)
- Amortization: $798,494 (9.2%)
- Public Works: $716,482 (8.2%)
- Administration: $617,061 (7.1%)
- Culture and Language: $573,487 (6.6%)
- Community Building: $489,523 (5.6%)
- Community Benefits: $443,853 (5.1%)
- Property Taxation: $1,334,879 (15.3%)
- Other Programs: $676,063 (7.8%)

Annual Surplus: $8,796,499 (down 53.2% from prior year)
Operating Margin: 50.2%

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KEY FINANCIAL METRICS

- Financial Assets to Liabilities Ratio: 3.3:1
- Debt-to-Assets Ratio: 4.2%
- Self-Generated Revenue: 71.3% of total
- Cash Reserves: 50.8 months of operating expenses
- Business Entity Profits: $49,852 from Seven Generations Environmental
Services Ltd. and Ch-Ihl-Kway-Uhk Tribe Society
- Partnership Income: $614,347 from Ts'elxweyeqw Tribe Limited Partnership
and 1507927 Energy Limited Partnership

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CHIEF & COUNCIL REMUNERATION

Name Position Remuneration Expenses Total
------------------------------------------------------------------------------
Mark Point Chief $45,250 $618 $45,868
Willy Hall Councillor $31,000 $835 $31,835
Teressa Galis Councillor $27,750 $835 $28,585
Tiffany Silver Councillor $34,000 $149 $34,149
Darcy Paul Councillor $29,750 $878 $30,628

Total Governance Compensation: $171,065 (1.0% of total revenue)

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Source: Audited consolidated financial statements, Manning Elliott LLP, July 23, 2025