The Audited Consolidated Financial Statements for Fisher River Cree Nation as of March 31, 2017 (2016/2017) is now available for download.
“The consolidated statement of operations shows an annual deficit of revenues over expenses of $1,219,216. While the consolidated statement of operations accounts for the First Nation’s revenues and expenses for the year, it includes non-cash items like amortization. To determine the First Nation’s annual surplus/deficit from operations, please refer to Note 12 – Accumulated Surplus. This note accounts for changes in the reserve accounts and investment in capital assets, which are not accounted for in the consolidated statement of operations. Note 12 shows an unrestricted accumulated deficit of $1,702,173 for 2017 and $2,751,850 for 2016, which indicates an operating surplus of $1,049,677 for the 2017 fiscal year.”