Stoney tribal administrator Ken Christensen for the nearby Stoney Nakoda Nation in Morley said that the three Nation chiefs would comply with the new federal legislation, the First Nations Financial Transparency Act.
The act requires all First Nations’ leaders to post their financial statements online, under the new transparency rules passed last year.
“We’re still working on our audited financial statements, which will likely be done by the end of August,” said Christensen, adding that the statements would likely be filed and posted online sometime in early September.
Christensen did say that this information was available before to members but could not confirm where this information was accessible.
First Nations’ leaders who have posted their salaries online have been under fire as of late for their allegedly inflated salaries in comparison to mayors of cities with considerably larger populations across the country.
Chief John Thunder of Buffalo Point, Man. earns $116,000 tax-free (off-reserve equivalent is $185,000) for running a reserve of 40 people; by comparison, Mayor Shari Decter Hirst of Brandon, Man. earns $95,000 for governing a city of 46,000.
Chief Ron Giesbrecht of the 80-member Kwikwetlem First Nation in B.C., earned a tax-free salary of $914,219 last year, with further expenses in excess of $16K; the off-reserve equivalent would be $1.6 million.
The nearby Stoney Nation is comprised of three bands and three chiefs (with four councillors apiece) for the Bearspaw (Chief Darcy Dickson), Chiniki (Chief Bruce Labelle) and Wesley (Chief Ernest Wesley) Bands.
The three Stoney chiefs have signed a deal with Hong Kong-based Huatong Petrochemical Holdings Ltd. to explore and develop oil and gas deposits found on the nearby Nation lands.
The deal would see Huatong providing all funding for the exploration of some 49,000 hectares of land with Nakoda Oil and Gas Inc. in charge of operations.
Heather Carnahan, former Stoney tribal administer who now represents Stoney businesses, said it is too early to disclose details or dates of when the deal is anticipated to come to fruition, adding that the deal is “in its preliminary stages”.
She did say that “getting Nakoda Oil and Gas Inc. up and running as an operating entity is very exciting and very empowering for the Nation”.
Carnahan added that the venture would be governed and regulated by the federal government.
Large quantities of natural gas have been produced off the Nation (Jumping Pound gas field) for more than 50 years.
Huatong Petrochemical Holdings Ltd. was incorporated in December of 2013.
