“Capital moneys - derived from the sale of surrendered lands or the sale of the capital assets of a Band. These moneys include royalties, bonus payments and other proceeds from the sale of timber, oil, gas, gravel or any other non-renewable resource.
Revenue moneys - defined as all Indian moneys other than capital moneys. They are primarily derived from a variety of sources which include, but are not limited to, the interest earned on Band capital and revenue moneys, fine moneys, proceeds from the sale of renewable resources (i.e., crops), leasing activities (i.e., cottages, agricultural purposes, etc.) and rights-of-way.It should be noted that Band capital and revenue moneys are not funds which have been appropriated (i.e., approved by vote from time to time) by Parliament. They are deemed public moneys held by the Crown on behalf of Bands and are managed under an entirely different administrative regime.”-AANDC
This at least should not be a revelation for all Canadians, but it is. Marks mentions the Canadian Taxpayers Federation (CTF), “We rarely see an official representative of the federal government (politician or bureaucrat) refer to the allocation provided annually to First Nations as tax dollars. They leave that up to groups such as the CTF, which misleads the Canadian public by being selective with information from our shared history and then sensationalizes the story further by using selected examples that distort the issue (the average salary of First Nations chiefs across Canada has been found to be reasonable time and time again).”
“Band moneys are derived from a variety of sources which, except for the payment of interest, are associated with the following types of renewable or non-renewable resource activities: lands and natural resource activity; oil and gas activity; settlement funds; and fine moneys. Band capital and revenue moneys collected or received by the Crown are deposited into the Consolidated Revenue Fund (CRF) which is the single fund used to receive all moneys belonging to Canada. Within the CRF, specific accounts have been set aside for Bands and certain individuals: Band capital and revenue accounts; individual accounts for minors, adoptees, deceased individuals, dependent adults and missing individuals; and suspense accounts for Bands and individuals.”
“(FNTC) is a shared-governance corporation that regulates and streamlines the approval of property tax and new local revenue laws of participating First Nations, builds administrative capacity through sample laws and accredited training, and reconciles First Nation government and taxpayer interests.”
- strengthening First Nation real property tax systems and First Nations financial management systems;
- providing First Nations with increased revenue raising tools, strong standards for accountability, and access to capital markets available to other governments;
- allowing for the borrowing of funds for the development of infrastructure on-reserve through a co-operative, public-style bond issuance; and providing greater representation for First Nation taxpayers.