HOW THE FUND WORKS
The First Nations Trust (FNT) was created by the Federation of Saskatchewan Indian Nations (FSIN) in May 2003. The foundation document for establishing the FNT is called the Trust Indenture. This agreement was reached following a long history of gaming by First Nations and relatively recent developments and negotiations with the Province of Saskatchewan.
The Trust Indenture is divided into sections covering the key aspects that govern the relationship between the Trustees and the beneficiaries of the Trust. Within that relationship, the main purpose of the FNT is to distribute the First Nations’ share of the net profits from gaming due to them, as a result of Framework Agreements, between the Federation of Saskatchewan Indian Nations (FSIN) and the Province of Saskatchewan.
The Trust receives First Nations’ share of gaming profits on a quarterly basis through the Saskatchewan First Nation and Métis Affairs Department. The FNT is then responsible for the distribution of these funds to the beneficiaries of the Trust. Details relating to this major responsibility of the Trust can be found in the Trust Indenture.
Most of the sections of the Trust Indenture have subsections that give more detail about the topic. Sections in the Trust Indenture include:
- Trust Property (defines the assets of the Trust)
- Purpose of the Trust (why was FNT established)
- Distribution of the Trust property (purposes money is distributed for)
- Number, Appointment and Replacement of Trustees
- Powers and Authorities of Trustees
- Duties of Trustees (including administrative, legal responsibilities and their responsibilities to beneficiaries)
DISTRIBUTION & USE OF TRUST FUNDS
Section 5.01 of the 2003 Trust Indenture states the purposes are:
- Economic Development
- Social Programs
- Justice Initiatives
- Education & Education Facilities
- the Development & Operation of Recreational Facilities
- Senior &Youth Programs
- Cultural & Spiritual Development
- the Development & Maintenance of Community Infrastructure
- Health Initiatives
- Governance Activities
- Treaty Protection
- Any Other Charitable Purpose
See the First Nations Determined Use of Funds; these Tables provide the purpose funds were used for by each First Nation.
The purposes First Nations use the funds for is also illustrated in charts for some years, where you can see at a glance the priority purpose for the year. Social programs, infrastructure and recreational facilities were the purposes that the most funds were invested in during this past fiscal year.