JUSTIN KANE

Chief

IRA HARRY

Councillor

SHIRLEY ALECK

Councillor

ASHLEY PETERS

Councillor

GEORGETTA NED

Councillor

LINDA MCDONALD

Councillor

TS'KW'AYLAXW FIRST NATION FINANCIAL SUMMARY
Fiscal Year 2023-2024 (Ending March 31, 2024)

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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 Reid Hurst Nagy Inc.

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EXECUTIVE SUMMARY

Ts'kw'aylaxw First Nation reported total revenue of $7,764,724, down 21.6% from
the prior year, with an annual surplus of $219,053, down 93.3% from 2023. The
Nation's accumulated surplus increased to $17,607,381 with net financial assets
of $3,968,290, up 0.8%. Cash holdings increased to $8,506,128, while portfolio
investments remained strong at $2,786,593. Long-term debt increased to
$6,363,700 from $5,881,346, reflecting new mortgage financing and facility
agreements. The revenue decline was primarily due to reduced government transfer
funding, though operations remained positive with a 9.5% operating margin. The
Nation demonstrated continued investment in infrastructure with $1,049,833 in
capital asset additions, primarily building improvements totaling $1,022,111.
Portfolio investments generated unrealized gains of $148,708. The Nation
maintains a healthy financial position with strong cash reserves covering 14.5
months of operating expenses and moderate debt levels.

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FINANCIAL POSITION

Total Assets: $17,607,381
- Financial Assets: $13,478,474 (includes Cash: $9,325,988)
- Tangible Capital Assets: $13,639,091
- Prepaid Expenses: $0

Total Liabilities: $9,510,184
- Long-term Debt: $6,363,700
- Accounts Payable: $819,140
- Deferred Revenue: $2,228,536
- Replacement Reserve Fund: $98,808

Net Financial Assets: $3,968,290 (up 0.8% from prior year)
Accumulated Surplus: $17,607,381 (up 2.0% from prior year)

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REVENUE & OPERATIONS

Total Revenue: $7,764,724 (down 21.6% from prior year)

Major Revenue Sources:
- Indigenous Services Canada: $3,898,348 (50.2%)
- First Nations Health Authority: $697,811 (9.0%)
- Canada Mortgage and Housing Corporation: $668,068 (8.6%)
- Province of BC: $472,109 (6.1%)
- Other Revenue: $389,462 (5.0%)
- Natural Resources Canada: $289,670 (3.7%)
- New Relationship Trust: $260,000 (3.3%)
- Shuswap Nation Tribal Council Society: $220,000 (2.8%)
- Interest: $191,607 (2.5%)
- Investment Income: $145,210 (1.9%)
- Rental: $137,635 (1.8%)
- Lillooet Tribal Council: $114,806 (1.5%)
- Union of BC Municipalities: $112,497 (1.4%)
- BC Hydro: $87,467 (1.1%)
- Graymont: $80,034 (1.0%)

Total Expenditures: $7,026,340 (up 11.3% from prior year)

Major Program Expenditures:
- Band Programs: $1,620,625 (23.1%)
- Health: $939,896 (13.4%)
- Education: $891,175 (12.7%)
- Social Development: $761,019 (10.8%)
- Capital Programs: $728,254 (10.4%)
- Natural Resources: $669,964 (9.5%)
- Operations and Maintenance: $231,630 (3.3%)
- Housing: $214,602 (3.1%)
- Economic Development: $171,550 (2.4%)
- Social Housing: $158,278 (2.3%)
- Capital Fund: $621,303 (8.8%)
- Enterprise Fund: $16,531 (0.2%)
- Ottawa Trust Fund: $1,513 (0.0%)

Annual Surplus: $219,053 (down 93.3% from prior year)
Operating Margin: 9.5%

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KEY FINANCIAL METRICS

- Financial Assets to Liabilities Ratio: 1.42:1
- Debt-to-Assets Ratio: 36.1%
- Self-Generated Revenue: 42% of total
- Cash Reserves: 14.5 months of operating expenses
- Business Entity Investment: Investments in three wholly-owned entities with
combined net equity of negative $171,222

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CHIEF & COUNCIL REMUNERATION

Name Position Remuneration Expenses Total
------------------------------------------------------------------------------
Justin Kane Chief $72,369 $7,961 $80,330
Georgetta Ned Councillor $20,510 $3,495 $24,005
Linda McDonald Councillor $16,800 $3,361 $20,161
Ashley Peters Councillor $15,300 $4,167 $19,467
Shirley Aleck Councillor $13,800 $558 $14,358
Ira Harry Councillor $13,800 $942 $14,742
Eugenia Edwards Councillor $6,975 $2,710 $9,685
Derek Bob Councillor $4,360 $0 $4,360
Carmen Ned Councillor $3,960 $663 $4,623
Llace Shintah Councillor $3,600 $0 $3,600

Total Governance Compensation: $195,331 (2.5% of total revenue)

Note: Councillors served varying terms (3, 6, 10, or 12 months) during the
fiscal year.

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Source: Audited consolidated financial statements, Reid Hurst Nagy Inc.,
November 18, 2025