Finance

The Listuguj Mi’gmaq Government’s Finance Directorate provides financial services to all LMG Directorates. The Finance Directorate’s mandate is:

• To provide day-to-day oversight and control of financial transactions and ensure those transactions are recorded in the financial records of LMG.
• To ensure expenditures are only processed in accordance with Chief and Council approved encumbrances (approved spending.)
• To manage custody of LMG financial resources, to monitor bank account activities and ensure adequate internal controls are employed to protect LMG from the risk of theft or fraud.
• To provide timely financial reporting of activities to the CEO, Finance and Audit Committee, Chief and Council and the community.
• To oversee the annual external audit and ensure audited statements are prepared in accordance with IFRS standards and presented to the CEO, Finance and Audit Committee, Chief and Council and the community within 120 days following the end of the fiscal year.
• To provide business and financial advice to the Directorates and Chief and Council upon request.

LMG annual revenue and expenditures from Program funding and Own-Source Revenue activities total more than $70 million dollars annually. Subject to the magnitude and number of construction projects in Listuguj the LMG Finance Directorate processes on average $1.5 – $2.0 million dollars per week in revenue and expenditures. The majority of LMG expenditures are processed for and on behalf of Listuguj employees, local vendors, contractors, and businesses in the immediate area. This financial activity provides much of the economic lifeblood for the community. LMG Finance employees understand the importance of ensuring transactions are processed in a timely manner to facilitate these activities.

There are approximately 400 full-time, part-time, seasonal, contract and temporary employees at the LMG. However, over the year with seasonal and project work, the LMG employs as many as 750 people annually. Seasonal employment peaks in the spring, summer and fall primarily in Administration, Capital & Infrastructure and Natural Resources. As well, the LMG provides seasonal employment for many students. Annual wages paid by LMG exceeds $24 million.

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Wela’lioq
David Fox
Director of Finance