Dene Nation seeing a surplus for 1st time in years, says auditor
Feds increase contributions by almost $1M, N.W.T. contribution nearly doubles
After a long day of speeches at the Dene National Assembly in Hay River, N.W.T., delegates got some good news on Tuesday — the Dene Nation is finally seeing a surplus.
This year's financial audit, presented at the end of the first day of the assembly, found surplus revenue of $505,000.
"The organization, for the first time in a few years, is actually in a surplus position," said Rick Bisson, a partner with MNP LLP, an auditing firm hired by the Dene Nation.
He said the surplus is thanks largely to a significant increase in revenue from the federal government — almost $1 million more than last year. The government contributed $1,424,014 in 2018 compared to $582,622 in 2017.
"This is where the biggest difference is," said Bisson.
The Government of the Northwest Territories also increased its contribution, almost doubling last year's contribution, to approximately $650,000.
Facing a deficit
The move to a surplus marks a change in financial fortunes for the Dene Nation.
Last year, the organization faced a deficit of $167,000. In response, the Dene Nation cut its salary expenditures by about $100,000, according to its financial statement.
In 2016, the Dene Nation faced eviction from its Yellowknife offices on 50 Street after failing to pay rent and bills for almost a year.
Dene National Chief Bill Erasmus attributed the lapse to a longstanding and unresolved dispute with the territorial government over the organization's payroll tax.
The Dene Nation manages more than $1.6 million in assets. In the past year, it has employed as many as 10 full-time staff, according to Erasmus, paying out almost $800,000 in salaries.