Annual Trust Audit Report & Community Meeting COMING SOON
The PTFN Council, who are also the Trustees along with the Independent Trustee for our Nation’s settlement Trust, would like to inform the membership of the following activities in relation to providing information about our Nation’s Trust:
- As the Council has done every year since PTFN was established, an audit of our Trust will be completed by a Qualified Independent Auditor. The audit is completed in accordance with Generally Accepted Accounting Principles as established by the Accounting Standards Board in Canada. This is a requirement of the Trust.
- The audit is done at the end of the Trust Fiscal Period which is December 31 of each year to present the financial statements that outline the current value of the Trust and summarize the financial activities for the year.
- The PTFN Trust states in section 8.1 that the Auditor’s report is to be completed within sixty (60) days of the end of the fiscal year. To achieve the 60 working day objective the Council/Trustees appointed the Independent Auditor on January 5th at the first meeting after the Trust fiscal Year End, December 31st. Once the Auditors Report is ready and all the involved parties are available a meeting with the Trust Beneficiaries (PTFN Members) will be scheduled.
- So as we have done in the past, a public meeting to will be held when the Audit Report is completed to provide Trust information to the membership / beneficiaries. At this meeting, the Council will invite the Qualified Independent Auditor for our Trust, Scotia McLeod who are the investment managers for our Trust, and representatives the PTFN Development Corporation to provide details on the other Trust investments which involve loans to companies.
- The Qualified Independent Auditor will make a presentation, as they have done in the past, outlining the Trust audit details, explain the information, and address any questions.
- Scotia McLeod will once again provide details on the investments that are a portion of our Trust assets that include stocks, bonds, Guaranteed Investment Certificates, and other financial market instruments.
- The PTFN Development Corporation Board will present information on the other portion of the Trust Investments that are loans to companies that PTFN owns or has an ownership share.
- The Trust Staff will also provide an update on the approved programs & the upcoming community vote for new programs.
- The Trustees, the elected Council and the Independent Trustee, will also be present at this community meeting
Thank you for your time and please stay tuned for information on the Trust information community meeting date.