DAVID J. JIMMIE

Chief

SHANNON WILLIAMS

Councillor

ALVIN JR. JIMMIE

Councillor

SQUIALA 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

Squiala First Nation generated total revenue of $9,398,729, up 54.9% from
$6,068,405 in the prior year, and achieved an annual surplus of $3,024,323,
representing a 1,318.0% increase from $213,284 in 2024. Revenue growth was
driven by increases in Indigenous Services Canada funding to $2,689,401,
economic activity and other revenue reaching $3,185,944, and a return to
profitability in Nation partnerships with earnings of $175,682 compared to a
loss of $673,014 in the prior year. The Nation holds accumulated surplus of
$29,613,970 and net financial assets of $17,403,446, representing increases of
15.4% and 16.4% respectively. Cash position increased 0.6% to $10,457,183,
while the Nation operates debt-free. Total expenditures increased 8.9% to
$6,374,406, driven by higher program delivery costs. Operating margin reached
32.2%, reflecting strong fiscal performance. The Nation's financial position
continues to strengthen substantially with growing reserves and investments in
business entities totaling $22,492,552.

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FINANCIAL POSITION

Total Assets: $47,819,533
- Financial Assets: $35,611,509 (includes Cash: $10,457,183)
- Tangible Capital Assets: $12,139,704
- Property Under Development: $1,729,751

Total Liabilities: $18,208,063
- Long-term Debt: $0
- Accounts Payable: $2,551,232
- Deferred Revenue: $15,656,831

Net Financial Assets: $17,403,446 (up 16.4% from prior year)
Accumulated Surplus: $29,613,970 (up 15.4% from prior year)

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REVENUE & OPERATIONS

Total Revenue: $9,398,729 (up 54.9% from prior year)

Major Revenue Sources:
- Economic activity and other revenue: $3,185,944 (33.9%)
- Indigenous Services Canada: $2,689,401 (28.6%)
- Investment income: $816,474 (8.7%)
- Rental and lease income: $376,168 (4.0%)
- First Nation Education Steering Committee: $337,543 (3.6%)
- Earnings from Nation partnerships: $175,682 (1.9%)
- Canada Mortgage and Housing Corporation: $1,648,069 (17.5%)
- Seabird Island Band: $139,936 (1.5%)
- Ottawa Trust income: $29,512 (0.3%)

Total Expenditures: $6,374,406 (up 8.9% from prior year)

Major Program Expenditures:
- Education & Training: $2,561,998 (40.2%)
- Community infrastructure: $843,302 (13.2%)
- Band Government: $825,366 (12.9%)
- Economic development: $741,425 (11.6%)
- Social Programs: $738,022 (11.6%)
- Capital Projects: $565,294 (8.9%)
- Investments: $79,574 (1.2%)
- Social Development: $19,425 (0.3%)

Annual Surplus: $3,024,323 (up 1,318.0% from prior year)
Operating Margin: 32.2%

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KEY FINANCIAL METRICS

- Financial Assets to Liabilities Ratio: 2.0:1
- Debt-to-Assets Ratio: 0.0%
- Self-Generated Revenue: 37.8% of total
- Cash Reserves: 19.7 months of operating expenses
- Business Entity Profits: $175,682 from investments in Squiala Holdings
Limited Partnership, Ts'elxweyeqw Tribe Limited Partnership, and
Ch-ihl-kway-uhk Tribe Society

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CHIEF & COUNCIL REMUNERATION

Name Position Remuneration Expenses Total
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David Jimmie Chief $19,550 $0 $19,550
David Jimmie CEO $91,936 $1,524 $93,460
Alvin Jimmie Councillor $21,750 $0 $21,750
Shannon Williams Councillor $21,350 $0 $21,350

Total Governance Compensation: $154,586 (1.6% of total revenue)

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Source: Audited consolidated financial statements, Manning Elliott LLP,
July 17, 2025