On November 2, 2023, Lower Similkameen Indian Band (LSIB) received Financial Management System (FMS) Certification from the First Nations Financial Management Board (FMB). This means their finance and administrative governance practices now meet FMB Standards, which are based on internationally recognized standards of financial management.
About Lower Similkameen Indian Band:
The Similkameen people have a history with the land that spans thousands of years in what is now Washington State and the Province of British Columbia. The Similkameen People were originally a nomadic people that moved from location to location, mainly due to the ever-changing availability of foods and climates.
Originally, the Similkameen people had a social structure which was governed by a line of Hereditary Chiefs within the greater community. Each village was led by a Chief that cared for the needs of that village. Advisors known as Wise/Good Men and Women assisted the Chiefs with the difficult decisions that had to be made.
Chief Keith Crow:
We the Sovereign and respected Smelqmix of the Sukwnaqin-x are committed to preserving our Land, History, Culture and Traditions to enhance the quality of life for ourselves and future generations.
Our Priority is to empower ourselves to build a holistic community that is healthy, self-sufficient, independent, and strong for generations to come.
I hereby acknowledge the great work of our Council, Senior Staff and Finance Department in achieving the FNFMB Financial Management System Certification
Frank E Wilson – Director of Finance:
I would like to thank LSIB’s Chief & Council and Band Manager for their participation toward adopting sound Financial Management Systems:
· Chief Keith Crow – Former Finance Manager and Housing Co-Ordinator, Member Finance & Audit Committee,
· Counsellor Janet Terbasket – Former RCMP Officer,
· Counsellor Ira Edward – Member Finance & Audit Committee,
· Counsellor John Louie – Member Finance & Audit Committee.
· Band Manager Alex Terbasket – Chair of Policy Committee
Their patience, guidance, and input toward adopting sound Financial Management Systems has been immeasurable.
In addition, I would like to acknowledge our Finance Department Team Members:
· Veronica Terbasket – Finance Operations Manager,
· Joanne Brewer – Finance Technician,
· Nicole Thom – Finance Technician,
· Shawnisha Tallio – Data Entry Clerk,
· Special shout out to Jeanette Dennis (retired) who kept LSIB’s Finance Department operational for over 22 years.
Their dedication and ability to manage the steep learning curve has enabled me to apply the time and resources to design, develop and implement an FMS that is state-of-the-art.
With the additional assistance of:
· Vananh Nguyen – FNFMB,
· Lynn Galloway, RHN – Auditors, and
· Terri Orchard – Sage 300 and MS Excel Specialist,
· Capathia IT Corporation – Systems and Serves
LSIB has developed systems that merge Generally Accepted Accounting Principles with 21st century technologies.
In the end we all worked diligently, over the past 5 plus years, to ensure LSIB Membership that their Financial Management System is safe, secure and in good standing.
The current LSIB Finance Department adopts a philosophy of:
“Spend it now and it’s gone forever – Invest it now and you can spend it forever.”
LSIB’s generates a level of Own Source Revenue (OSR) from forestry, mining, vineyards, property rentals, taxation & gaming. Our Director of Finance conducts research on investment opportunities and presents options to the Finance & Audit Committee (FAC). FAC in turn recommends options to C&C. C&C directs which investments suit the direction set out by membership in the Comprehensive Community Plan and our Strategic Planning Agenda.
Investment proceeds are utilized to better fund education, language preservation, proposed fire department, climate change mitigation, infrastructure development with futures in clean energy projects.
The FMB acknowledges the strong leadership of LSIB Chief, Council, Band Manager, Director of Finance, and the dedication of their staff that were key into achieving FMS Certification.
About FMB: The Financial Management Board is a First Nations-led nonprofit organization that supports First Nations in developing sound finance and administrative governance practices. The FMB was created under the First Nations Fiscal Management Act (FMA) in 2006. Services offered are at no cost to First Nations. For more information on all products and services, visit www.fnfmb.com