Finance Report2016-2017
CONTENTS
Message from the Director of Finance ............. 04
Finance Department
Function ........................................................ 05
Objectives .................................................... 06
Meet our Team ...................................................... 07
Finance Information.............................................. 15
MFNERC Financial Statements .......................... 16
Independent Auditors’ Report .................. 17
Statement of Financial Position ................ 18
Statement of Operations ............................ 19
Statement of Changes in Net Assets ....... 20
Statement of Cash Flows ........................... 21
Notes to the Financial Statements ........... 22
Schedule 1 - Schedule of Revenue and Expenses - Administration ................. 29
Schedule 2 - Schedule of Revenue and Expenses - Roseau River Anishinabe First Nation Ginew School .............................................. 30
04 | Finance Report 2016-2017
MESSAGE FROM THE DIRECTOR OF FINANCE
On behalf of MFNERC’s Board of Directors, we welcome
you to preview our 2016-17 Financial Audit. Together we
value education. A positive educational process is our first
priority. We are constantly looking for ways to work more
efficiently, at the same time ensuring a quality education
for First Nations Students in Manitoba.
This Audit report reflects Manitoba First Nations
Education Resource Centre’s (MFNERC) on-going
commitment to improving both its performance and its
financial and fiscal accountability.
MNP LLP Chartered Accountants conducted the audit
of the MFNERC’s Financial Statements for the fiscal year
ending March 31, 2017. Total revenue was $36,982,320
and total expenses were $36,610,090. We are pleased to
report positive operating results for MFNERC for fiscal year
2016-2017. MFNERC’s success in 2016-2017 demonstrated
the strength and importance of sound management
execution and the value of financial discipline.
The management letter from MNP LLP, MFNERC’s auditing
firm, made no significant suggestions for operational
or procedural changes and they issued an “unqualified”
opinion on the March 31, 2017 MFNERC Financial
Statements, which represents the highest standard for a
financial audit.
MFNERC received $6,106,595 from INAC under New Paths
Program as well as $3,870,655 for Special Education
and $1,444,035 for other proposal driven education
programs. INAC also provided $1,363,993 for Education
Partnerships Program and $20,203,165 for the First Nation
Student Success Program and $2,782,977 for Roseau
River Anishinabe First Nation Ginew School. In total INAC
provided $35,711,420 to MFNERC which represented 97%
of overall funding.
Overall, Finance ensured that all requirements of a
project’s Contribution Agreement were being compiled
with authorized expenditures as well as ensured that the
deliverables were being adhered to.
George Merasty B.Comm (Hons.), CA, CPA, CAFM
Director of Finance
Finance Report 2016-2017 | 05
FINANCE DEPARTMENT - FUNCTIONS AND OBJECTIVES
FUNCTIONFinance manages the implementation of the financial plans and policies of MFNERC. The financial strategic objectives
of MFNERC is to manage the funds it has been entrusted with. Finance carries out this objective through cost effective
management of MFNERC’s internal financial operations, efficient negotiations, monitoring of funded projects, and
strategic management of the organization’s investments.
Finance is responsible for three main areas:
1. Project funding
• Financial review and monitoring of all budgets for all projects administered by MFNERC
2. Organizational finances and administration
• General Expense (Salaries, insurance, office supplies, training etc…)
• Investments
• Financial Reporting
• Financial advice to the Board of Directors
3. Monitoring
• Processing cheque requisitions submitted by departmental managers
• Assessment of budget to actual expenditures on a monthly basis
• Analysis of project performance to ensure deliverables are adhered to
06 | Finance Report 2016-2017
FINANCE DEPARTMENT - FUNCTIONS AND OBJECTIVES
FINANCE DEPARTMENT - FUNCTIONS AND OBJECTIVES
OBJECTIVE To fulfill all financial functions and execute its responsibilities, the Finance department has identified the following
objectives and strategies:
1. Ensure the integrity, reliability and transparency of all the financial operations of MFNERC
STRATEGY: To establish budgeting control and reporting systems, applied both to the internal and financial
operations of all funded projects. Finance achieves the following objectives:
• Assisting in the development of policies and budgets, and providing the necessary information and financial
analysis required.
• Control and monitor the operational budget that has been approved by the Board of Directors.
• Assisting Management in discharging its responsibilities for Financial Reporting.
• Implementing and maintaining the accounting system (Sage 300).
• Ensuring the Reporting and Auditing procedures are carried out.
• Administrating the investments on behalf of MFNERC.
The Financial statements of MFNERC are prepared in accordance with generally accepted accounting principles,
including the accounting recommendations for not-for-profit organizations in Canada.
2. Ensuring that funding expenditures are in accordance with the terms and conditions
of all Contribution Agreements.
STRATEGY: To conduct a financial assessment of the progress of funded projects in conjunction with
departmental managers, ensuring project expenditures are measured against project work-plans, goals and
objectives.
3. To ensure the integrity and reliability of data
STRATEGY: Implementing and maintaining the accounting system (Sage 300) / HRMS
EXPECTED RESULTS:
• Ensuring that all requirements of a project’s Contribution Agreement are being compiled with
authorized expenditures.
• Refining the overall project as necessary to compile with the funding agreements.
• Reducing a risk of unauthorized expenditures.
• Ensuring that adequate resources continue to be available for the continuation of planned projects.
Finance Report 2016-2017 | 07
MEET OUR TEAM
Born and raised on the Flying Dust First Nation in northern Saskatchewan, George
Merasty went on to become the Director of Finance for MFNERC as of 2007. In the past,
he also served as the Director of Finance for the Assembly of Manitoba Chiefs from
1997 to 2007.
After graduating from the University of Manitoba with a Bachelor of Commerce
Honours degree with a major in Accounting, he obtained his Chartered Accountant
designation in 2000.
George has been married for 22 years to his wife, Marla, and they have two teenage
boys—Kaeden and Brenden.
GEORGE MERASTYB.Comm. (Hons.), CA, CPA, CAFM
Director of Finance
Sarah Cook is the Assistant Director of Finance at MFNERC. She graduated from the
University of Manitoba with a Bachelor of Commerce Honours degree with majors
in Accounting and Aboriginal Business Studies. In 2011, she obtained her Chartered
Accountant designation. As a chartered accountant, Sarah has worked with a variety
of charitable, non-profit and First Nation organizations to meet their reporting
requirements. In the past, she has served as a Staff Accountant and Audit Manager at
BDO Canada LLP and as a Finance Officer at Indigenous Management Group.
Sarah is a proud member of the Misipawistik Cree Nation. She enjoys giving back to her
community and has been a member of United Way Winnipeg’s Council for Indigenous
Relations since 2015.
SARAH COOKB.Comm. (Hons.), CA, CPA
Assistant Director of Finance
08 | Finance Report 2016-2017
MEET OUR TEAM
Curtis Carriere has worked in Finance at MFNERC since 2005, where he has occupied
a variety of roles within the department—Accounts Payable, Receivable, Bank
Reconciliations, and the General Ledger. He is currently working within the Manitoba
First Nations School System (MFNSS).
Curtis was born in raised in Winnipeg and spent many summer and winter months
in and around Cranberry Portage, Manitoba. The nearby First Nation of Opaskwayak
Cree Nation is where he has treaty status. He went on to graduate from the University
of Manitoba with a Bachelor of Arts degree with a major in Economics and minor
in Business.CURTIS CARRIERESenior Finance Assistant
DONNA MCCORRISTERAccounts Receivable
Donna McCorrister has been working in the Finance Department at MFNERC since
September 2016. She has worked in various organizations and businesses within
the Peguis First Nation over the years. She graduated from Red River College with a
Business Accounting and Management Studies Certificate.
Donna originates from Brokenhead Ojibway Nation but transferred to Peguis First
Nation at a young age. She and her husband Marshall have three adult children—
Matthew, Brittany, and Ashton—and one 13 year old son, Presley. Family is very
important to Donna, she spends most of her evenings and weekends watching her
teenage son play various sports such as football in the summer, then hockey in the
winter. She also enjoys playing golf with her husband.
Finance Report 2016-2017 | 09
MEET OUR TEAM
BRYANNA KIRKNESS Travel
Bryanna Kirkness (McKay) has been employed with MFNERC since 2002, working as an
administrative secretary and in the Finance Department as Finance Assistant for the
past 14 years.
Bryanna graduated from Success Business College in 2002 and received a Business
Administration diploma (with honours). Born in Grandview and raised in Thompson,
Manitoba, she has lived in Winnipeg since 1999 and treaty to Tootinaowaziibeeng
Treaty Reserve.
Bryanna recently married her long-time partner Leonard in late 2016, and together
they have a blended family of four children and five grandchildren.
Before joining MFNERC, Rhonda Hardisty worked at Southeast Resource Development
Council for 12 years as the financial administrator and with the Southern Chiefs
Organization for two years as finance assistant and assistant manager.
Rhonda grew up in Manigotagan and is a member of the Hollow Water First Nation.
She moved to Winnipeg to attend Red River College where she graduated from the
Business Administration program in 1992. Rhonda is a proud grandmother to four
grandchildren, two of whom she cares for as a full-time grandmother.
RHONDA HARDISTYAccounts Payable
10 | Finance Report 2016-2017
MEET OUR TEAM
SHANNON LAFORTEContracts Administration
Before becoming a Finance Assistant with MFNERC, Shannon Laforte worked in the
finance department of the Aboriginal Peoples Television Network and the Assembly
of Manitoba Chiefs.
Born and raised in Winnipeg, Shannon graduated from St. John’s High School and
continued her studies at Winnipeg Technical College along with various medical and
accounting courses at Red River College.
Shannon is a mother to two beautiful children—Riley and Echo.
BARBARA SPENCEAccounts Payable
Barbara is from Churchill, Manitoba and is a member of Fox Lake Cree Nation. Barbara
has worked with MFNERC since January, 2014 as a Research/Administrative Assistant
for the Structural Readiness Program.
Her previous work experience has been with First Nations Organizations in the area of
finance, health and social development.
Barbara has a business administration diploma from Red River College and a Bachelor
of Arts Degree from the University of Manitoba with a major in Native Studies and a
minor in Womens Studies.
Finance Report 2016-2017 | 11
MEET OUR TEAM
Heather Sinclair has been with MFNERC, since 2004 as the Finance Assistant – Payroll.
Previous to her time with MFNERC, she was the Finance Manager for the Peguis First
Nations Retail Grocery Store from 1992 to 1994. Return to the City of Winnipeg to work
with the Island Lake Tribal Council as the Finance Clerk form 1994-1999. She attended
the Yellowquill Community College in 2002 in the Certified Aboriginal Financial
Manager (CAFM) Program graduating in June 2004.
Heather is proud mother of her daughter Erin who is attending the University of
Winnipeg as a first year student.
Heather will be entering the MBA Program this fall and is so excited to enhance her
professional career goals and future.
She enjoys golfing with her ladies league team members of Larter’s at St. Andrews Golf
& Country Club for the past six years.
HEATHER SINCLAIRPayroll Lead
Dianne Roulette, Ojibway is a member of the Long Plain First Nation and has worked
at MFNERC for seven years in total. She has worked in the following organizations;
Royal Bank of Canada, Federation of Saskatchewan Indian Nations, Peace Hills Trust,
Assembly of Manitoba Chiefs, Dakota Ojibway Tribal Council Housing Authority
and also in her community of Long Plain First Nation. Dianne received a Business
Administration Diploma from the University of Saskatchewan, Legal Secretarial
Diploma from Robertson Career College and graduated from the Canadian College of
Funeral Services as a Funeral Director/Embalmer.
Dianne is a single parent and enjoys living her life to the fullest with her three wonderful
children; Kyra (Masters of Social Work), Quinn (High School Graduate), and Ellery (High
School), and she is also a proud grandmother of her only grandchild, Paige.
DIANNE ROULETTE Purchase Orders
12 | Finance Report 2016-2017
MEET OUR TEAM
Nichole Brisebois is currently a Finance Assistant in Payroll at MFNERC. Her passion for
a career in finance led her to the Canadian Payroll Association. In 2009, she completed
her Payroll Compliance Practitioner certification and has been working in the industry
since.
Nichole is mother to Lucik Brisebois, her son, now five, is in his second year into his
educational journey attending kindergarten.
NICHOLE BRISEBOIS Payroll
CANDACE ROBINSONPayroll
Candace Robinson was born and raised in Winnipeg and is a member of Swan Lake
First Nation.
She has been working in the payroll field for 14 years receiving her designation as
a Payroll Compliance Practitioner in 2015 through the Canadian Payroll Association.
Candace worked at Air Canada for 18 years in finance, in accounts receivable and
accounts payable and ended her career there in payroll. Before coming to MFNERC,
Candace worked in a couple of different organizations in the payroll field.
Apart from her certificate from the Canadian Payroll Association, she also has a
diploma in business administration from Red River College, and also a designation
as a Tax Preparer with H&R Block where she is continuously upgrading her tax
education yearly.
Candace has three children, two adults (Dinae and Kayla) and one teenage son (Liam).
When she is not working, she enjoys spending most of her time with her son and
her grandson.
Finance Report 2016-2017 | 13
MEET OUR TEAM
Ashley Carriere was first employed with MFNERC during the summer of 2005 in the
finance department as a summer student. She graduated from Red River College with
a Business Administration Diploma.
After graduation, Ashley was once again employed with the Resource Centre as an
Administrative Assistant in the School Programs department. Wanting to expand her
knowledge, she enrolled at the University of Winnipeg and graduated with a Human
Resource Management Diploma. After graduation she came back to the Resource
Centre where she is currently the Payroll and Benefits Administrator.
ASHLEY CARRIERE Payroll and Benefits
Terrence Shannacappo, Ojibway, is a member of the Rolling River First Nation, and
has worked at MFNERC since April of 2013. From 2000 to 2013, he was employed as a
Finance Assistant with the Assembly of Manitoba Chiefs (AMC). Prior to his employment
with AMC, he has worked with various tribal councils, aboriginal organizations, federal
government and private corporations.
Terrence graduated from Red River College with a Business Administration diploma. He
is currently enrolled at Thompson Rivers University’s Bachelor of Commerce Distance
Education Degree Program with a major in Accounting.
Terrence’s only child Tishina graduated from UBC in 2014 and is also currently employed
with MFNERC. Terrence raised his daughter as a single parent upon his wife’s death in
2001. Her mom would have been extremely proud of her academic accomplishments
to date.
For extracurricular activities, Terrence enjoys going for long walks, cycling, traveling,
reading, and attending tae kwon do classes.
TERRENCE SHANNACAPPOBenefits Administration
14 | Finance Report 2016-2017
MEET OUR TEAM
Glen Stevenson has been the Finance Assistant at MFNERC over a year. He has served
as a Junior Accounting Technician for the Aboriginal Peoples Television Network from
2005 to 2010. He went on to be the Financial Analyst for Tribal Wi-Chi-Way-Win Capital
Corp/Aski Financial from 2010 to 2015, and for a short stint, he was also an Accounting
Assistant for Manitobah Mukluks in 2015.
Glen was born in Winnipeg but raised on the Peguis First Nation. From 1996 to 2004,
he has worked in a number of trades, including housing and manufacturing within the
City of Winnipeg. However, he returned to school in the fall of 2004 and received an
accounting diploma with honours from the Anokiiwin Training Institute in 2005.
He has been married for five years to his wife Melissa, and together they have one
son, Jacob.
GLEN STEVENSON Pension & GL
Melissa Soldier has worked at MFNERC as a travel agent for the past year. She spent
the previous fifteen years at Clement Travel, a First Nations owned and operated
travel agency.
Melissa grew up on Swan Lake First Nation and graduated from Robertson College
in 1999 from the Travel Counsellor course. She is one of the first native travel agents
in Manitoba.
MELISSA SOLDIER Travel Agent
Finance Report 2016-2017 | 15
MFNERC FINANCE INFORMATION
MFNERC FINANCE OFFICESwan Lake First Nation
120-200 Alpine WayHeadingly, MB R4H 0B7Phone: 1(204) 594-4267
Fax: 1(204) 831-1301
MFNERC FINANCE TEAM: • George Merasty B. Comm. (Hons.), CA, CPA, CAFM Director of Finance • Sarah Cook, B. Comm. (Hons.), CA, CPA Assistant Director of Finance• Curtis Carriere, Senior Finance Assistant• Donna McCorrister, Accounts Receivable• Bryanna McKay, Travel• Rhonda Hardisty, Accounts Payable• Barbara Spence Accounts Payable• Shannon LaForte, Contracts Administration • Dianne Roulette Purchase Orders• Heather Sinclair, Payroll Lead• Nichole Brisebois, Payroll• Candace Robinson Payroll• Ashley Carriere Payroll and Benefits• Terrence Shannacappo, Benefits Administration• Glen Stevenson, Pension & GL• Melissa Soldier, Travel Agent
16 | Finance Report 2016-2017
MFNERC FINANCIAL STATEMENTS
Finance Report 2016-2017 | 17
INDEPENDENT AUDITORS’ REPORT
18 | Finance Report 2016-2017
STATEMENT OF FINANCIAL POSITION
Finance Report 2016-2017 | 19
STATEMENT OF OPERATIONS
20 | Finance Report 2016-2017
STATEMENT OF CHANGES IN NET ASSETS
Finance Report 2016-2017 | 21
STATEMENT OF CASH FLOWS
22 | Finance Report 2016-2017
NOTES TO THE FINANCIAL STATEMENTS
Finance Report 2016-2017 | 23
NOTES TO THE FINANCIAL STATEMENTS
24 | Finance Report 2016-2017
NOTES TO THE FINANCIAL STATEMENTS
Finance Report 2016-2017 | 25
NOTES TO THE FINANCIAL STATEMENTS
26 | Finance Report 2016-2017
NOTES TO THE FINANCIAL STATEMENTS
Finance Report 2016-2017 | 27
NOTES TO THE FINANCIAL STATEMENTS
28 | Finance Report 2016-2017
NOTES TO THE FINANCIAL STATEMENTS
Finance Report 2016-2017 | 29
SCHEDULE 1 - SCHEDULE OF REVENUE AND EXPENSES
ADMINISTRATION
30 | Finance Report 2016-2017
SCHEDULE 2 - SCHEDULE OF REVENUE AND EXPENSES
ROSEAU RIVER ANISHINABE FIRST NATION GINEW SCHOOL
Head OfficeSwan Lake First Nation120-200 Alpine WayHeadingly, MB R4H 0B7Phone: (204) 594-4267Fax: (204) 831-1301
Winnipeg Sub-Office2-1100 Waverley StreetWinnipeg, MB R3T 3X9Phone: (204) 594-1290Toll Free: (866) 319-4857Fax: (204) 942-2490
Thompson Sub-OfficeLower Level - 79 Selkirk AveThompson, MB R8N 0M5Phone: (204) 594-1290Toll Free: (877) 506-1568Fax: (204) 677-0938
Waverley Sub-Office200-1090 Waverley StreetWinnipeg, MB R3T 0P4Phone: (204) 594-1290Toll Free: (866) 319-4857Fax: (204) 477-4314