STACEY GOULDING

Chief

LANCE CAMPO

Councillor

SANDRA MCDONALD

Councillor

DAWN STYRAN

Councillor

DARREL MCKAMEY

Councillor

CAMIELLE LASLO

Councillor

PHILIP SHERWOOD

Councillor

LEQ'A:MEL 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 MNP LLP.

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EXECUTIVE SUMMARY

Leq'á:mel First Nation generated total revenue of $16,194,177, down 81.6% from
the prior year primarily due to a non-recurring $75.5M specific claim settlement
in 2024. The Nation achieved an annual surplus of $3,038,814 compared to
$36,536,380 in the prior year, representing an operating margin of 18.8%.
Accumulated surplus increased 4.8% to $61,508,541, reflecting continued financial
strength. Net financial assets increased 4.5% to $41,279,429 despite tangible
capital asset investments of $1,786,641. Cash and portfolio investments totaled
$49,650,939, indicating strong liquidity and investment in diversified holdings.
Long-term debt decreased 4.9% to $4,945,642 following refinancing activities.
The Nation deployed $34,780,575 into a diversified investment portfolio,
demonstrating strategic asset management. Revenue diversification improved with
economic activity contributing 25.7% and government business entities generating
$568,282. The Nation maintains exceptional financial capacity with substantial
reserves and minimal debt burden.

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FINANCIAL POSITION

Total Assets: $75,743,116
- Financial Assets: $55,514,004 (includes Cash: $14,865,937)
- Portfolio Investments: $34,785,002
- Tangible Capital Assets: $20,229,112

Total Liabilities: $14,234,575
- Long-term Debt: $4,945,642
- Deferred Revenue: $7,200,653
- Accounts Payable: $2,088,280

Net Financial Assets: $41,279,429 (up 4.5% from prior year)
Accumulated Surplus: $61,508,541 (up 4.8% from prior year)

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REVENUE & OPERATIONS

Total Revenue: $16,194,177 (down 81.6% from prior year)

Major Revenue Sources:
- Indigenous Services Canada: $4,495,133 (27.8%)
- Economic Activity and Other Income: $4,159,628 (25.7%)
- Investment Income: $2,457,447 (15.2%)
- Province of British Columbia: $1,751,265 (10.8%)
- Other Federal Funding: $1,579,399 (9.8%)
- First Nation Health Authority: $940,944 (5.8%)
- Earnings from Government Business Entities: $568,282 (3.5%)
- Rental Income: $242,079 (1.5%)

Total Expenditures: $13,155,363 (down 74.4% from prior year)

Major Program Expenditures:
- Lands and Resources: $4,098,511 (31.1%)
- Administration: $2,843,622 (21.6%)
- Health: $1,850,328 (14.1%)
- Operations and Maintenance: $1,647,446 (12.5%)
- Housing: $1,084,750 (8.2%)
- Capital Assets: $737,971 (5.6%)
- Social Programs: $461,130 (3.5%)
- Education and Employment: $431,605 (3.3%)

Annual Surplus: $3,038,814 (down 91.7% from prior year)
Operating Margin: 18.8%

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KEY FINANCIAL METRICS

- Financial Assets to Liabilities Ratio: 3.90:1
- Debt-to-Assets Ratio: 6.5%
- Self-Generated Revenue: 72.2% of total
- Cash Reserves: 13.6 months of operating expenses
- Business Entity Profits: $568,282 from 5 partnerships and entities

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CHIEF & COUNCIL REMUNERATION

Name Position Remuneration Expenses Total
------------------------------------------------------------------------------
Alice Thompson Chief $75,935 $2,884 $78,819
George Chaffee Councillor $50,200 $1,320 $51,520
Barb Leggat Councillor $57,369 $2,236 $59,605
Dawn Styran Councillor $53,563 $0 $53,563
Camielle Laslo Councillor $53,763 $1,320 $55,083
Philip Sherwood Councillor $50,200 $1,320 $51,520
Darryl McKamey Councillor $50,200 $2,875 $53,075

Total Governance Compensation: $403,185 (2.5% of total revenue)

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Source: Audited consolidated financial statements, MNP LLP, July 29, 2025