2021 has been an extremely busy year forthe Maang Doodem (Loon Clan). The finance and administration team has workeddiligently throughout the last year to facilitate a number of changes for thecommunity and continuously improve the services being offered to our members.The finance and administration team values our responsibility to the community,and has been focused on being accessible and building solutions that ease ourinternal and external interactions.
The Maang Doodem is a leader in the clansystem. The Crane and the Loon Clans were both given the power ofChieftainship. By working together, we give the community a balanced governmentby checking on each other to ensure the right decisions are made for thepeople. As the Loon Clan, we act as an observer and watch to ensure things aredone properly.
With the newly appointed council in 2020-2021, the finance teamhas built a strong working relationship with the finance and audit committee,who meet and report to council on a routine basis. As the finance and administration team, wework hard to ensure we meet our responsibilities, which helps to ensure thecommunity's success.
We will continue to act as the balance within thegovernment to ensure we meet these expectations. We have completed a largevolume of policy updates and procedural changes during the past year to furthersupport these objectives.
Sagamok Anishnawbek's leading funder is Indigenous Services Canada (ISC), with a contribution to the Community of $18.8Million in 2021. The revenue breakdown (Diagram 1) provides further insight into community funding in 2021. The financial statements illustrate and compare to the previous year our financial position at year-end (March 31) and also show our revenue and expenses throughout the year.
The expenses on our statement of operations are grouped by the service area, which provides the community with good insight into the financial investment in key areas. Those amounts include $9.2 million invested in Education, $8.2 million in Medical Services, $2.5 Million in Community Infrastructure, and over $1.5 Million in Community Housing.
Additionally, Sagamok has invested intangible capital assets (i.e. vehicles, building improvements, roads, equipment, & machinery) during the fiscal year of $1.19 Million to support the ongoing growth and development of the community.
The community has strategically invested in a number of business opportunities over the years, including Sagamok Development Corporation (SDC), Ritchie Falls Resort(RFR), Z'Gamok Construction, and Z'Gamok Enterprises. Diagram 2 provides a high-level overview of all four entities' revenue, expenses, and profits(losses). Overall, 2021 was a very successful year for the community-owned businesses and has resulted in financial contributions to the community in the form of financial profits and additional community member employment.
It has been a pleasure working with the community, Chief and Council, and all the clans throughout 20/2021. We have worked hard to achieve the goals of the community and have been rewarded with demonstrable results. The community will continue to see significant financial investment in a number of areas, and the finance team is looking forward to supporting these initiatives. We are now well into the new fiscal year and continue to strengthen our existing systems to deliver quality service to the community.
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Z’gamok Enterprises Inc. is a corporation 100% owned by the Sagamok Anishnawbek. It is mandated to maximize the economic development opportunities of the Sagamok Anishnawbek First Nation within its traditional lands and within the Northern Ontario region in the resource sector and in services related to construction and resource development.
