SIDNEY SCOTCHMAN

Community Chief

COURTENEY ADOLPH-JONES

Councillor

HAROLD PELEGRIN

Councillor

BRANDON BARNEY

Councillor

ADRIANNA SCOTCHMAN

Councillor

T'IT'Q'ET ADMINISTRATION 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 Morine Thomas CPA LLP.

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EXECUTIVE SUMMARY

T'it'q'et Administration reported total revenue of $11,350,238, down 21.2% from
the prior year, with an annual surplus of $552,916, down 87.5% from 2024. The
Nation's accumulated surplus increased to $26,321,139 with net financial assets
of $10,199,483, down 10.4%. Cash holdings remained relatively stable at
$11,248,424, though long-term debt decreased significantly to $4,861,301 from
$7,227,470. The revenue decline was primarily due to reduced capital project
funding. The Nation demonstrated continued investment in infrastructure with
$2,305,795 in capital asset additions, primarily assets under construction
totaling $2,232,361. The operating margin was 4.9%. The Nation maintains a
stable financial position with strong cash reserves and substantially reduced
debt obligations.

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FINANCIAL POSITION

Total Assets: $26,321,139
- Financial Assets: $15,661,709 (includes Cash: $12,175,239)
- Tangible Capital Assets: $15,827,257
- Property Under Development: Not separately stated

Total Liabilities: $5,462,226
- Long-term Debt: $4,861,301
- Accounts Payable: $580,925
- Deferred Revenue: $20,000

Net Financial Assets: $10,199,483 (down 10.4% from prior year)
Accumulated Surplus: $26,321,139 (up 2.5% from prior year)

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REVENUE & OPERATIONS

Total Revenue: $11,350,238 (down 21.2% from prior year)

Major Revenue Sources:
- Indigenous Services Canada: $4,822,490 (42.5%)
- Other Revenue: $2,559,152 (22.5%)
- Rental Revenue: $826,603 (7.3%)
- Investment Income: $723,349 (6.4%)
- First Nations Health Authority: $758,035 (6.7%)
- Trust Allocation: $446,568 (3.9%)
- BCFN Gaming: $368,720 (3.2%)
- Taxation: $223,598 (2.0%)
- Province of BC: $142,664 (1.3%)
- Department of Fisheries and Oceans Canada: $120,280 (1.1%)
- CMHC: $136,788 (1.2%)
- BC Hydro: $131,642 (1.2%)
- Other Sources: $210,349 (1.7%)

Total Expenditures: $10,797,322 (down 7.9% from prior year)

Major Program Expenditures:
- Public Works: $2,917,700 (27.0%)
- Community and Human Services: $2,464,684 (22.8%)
- Administration: $1,805,356 (16.7%)
- Resources: $1,407,200 (13.0%)
- Education: $1,171,946 (10.9%)
- Housing: $875,504 (8.1%)
- Taxation: $154,932 (1.4%)

Annual Surplus: $552,916 (down 87.5% from prior year)
Operating Margin: 4.9%

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KEY FINANCIAL METRICS

- Financial Assets to Liabilities Ratio: 2.87:1
- Debt-to-Assets Ratio: 18.5%
- Self-Generated Revenue: 42% of total
- Cash Reserves: 13.6 months of operating expenses
- Business Entity Profits: Investment in business entities totaling $556,519

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CHIEF & COUNCIL REMUNERATION

Name Position Remuneration Expenses Total
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Sidney Scotchman Chief $61,877 $1,094 $62,971
Patrice Pelegrin Council $17,125 $7,532 $24,657
Adrianna Scotchman Council $17,537 $2,806 $20,343
Harold Pelegrin Council $18,386 $1,624 $20,010
Felicia Aleck Council $4,625 $2,169 $6,794
Megan Thorne Council $4,800 $0 $4,800

Total Governance Compensation: $139,575 (1.2% of total revenue)

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Source: Audited consolidated financial statements, Morine Thomas CPA LLP,
July 6, 2025