Finance & Operations

1. Finance & Operations Interim Executive Director June 2013

2. Outline • Financial Management Practices • Audit Results - 2011-2012 Fiscal Year • Audit Results - 2012-2013 Fiscal Year • Internal Controls in Place • 2013-2014 Budget • NLG • Other Sources • Daily Operations • Office, Staff and Programs

3. Financial Management • Audit Protocol and Requirement • A Financial Audit must be conducted every year. • NTVS AGM must be held by October 31st every year. • The Auditors are appointed at the AGM by NTVS membership • 2011-2012 Audit • Auditors advised that former ED missed 3 missed meetings with the Auditors. • Previous Board of Directors has not advised why they did not hold the required AGM to present the 2011-2012 Audit to the NTVS members before October 31st . • As a result, new Board of Directors held the mandatory AGM on January 19, 2013 and presented the 2011-2012 Audited Financial Statements to NTVS membership.

4. Financial Management • 2012-2013 Audit • Auditors in office for 6 days. • President and Interim Executive Director met with the Auditors to discuss their preliminary report. • Corrective measures implemented. • The Audit results to be presented at next AGM to be held before October 31, 2013. • Auditors’ Observations • Unauthorized use of the Corporate Credit Card. • Failure to follow the established Petty Cash policy. • Concerns with use of Vancity account and bankcard. • Challenges associated with tracking donations. • One Contractor did not charge HST/GST at put NTVS at risk. • One Contractor charged travel as employee without written approvals.

5. Financial Management • The current Board has made efforts to ensure a higher level of Financial Accountability and Transparency • To this end, the current Board has • Started reviewing and approving all monthly financial reports prior to sending them to NLG. • Closed the corporate credit card account pending revisions to the policy to prevent personal withdrawals by NTVS staff. • Closed the corporate Vancity ATM card pending a revision to the policy on it’s use for any event or programs and services expenditures. • Reviewed the current Petty Cash Policy with NTVS staff to ensure compliance. • Directed NTVS staff to obtain Board approval and sign-off prior to committing any NTVS funds to upcoming community activities. • Committed to sharing the NTVS Annual Budget with Community Members.

6. Budget • 2013-2014 Annual Budget • Submitted to NLG for review - March 2013 • Approved as a Provisional Budget - April 2013 • Provisional Budget • Board allocated funding using same template from 2012-2013including program descriptions • Community Consultations • To identify program priorities - June to August 2013 • Final Budget • Final Budget approval - September 2013

7. Budget: Other Funding • Majority of Funding from NLG • $987,710 • Other Funding 2012-2013 • $42,000 • Staff preparing proposals for this year • Surplus • will assist to offset legal fees for union certification • Charitable Status • Ts’amiks Services Society was incorporate on August 28, 2012 for purposes of registering as a Charity • Membership meeting this summer to expand membership and prepare to submit charitable application by August 2013

8. How Current Funds Are Allocated

9. Some Comparisons

10. Operations • Board of Directors are meeting regularly • Evaluation of Programs and Services • In Progress • Preliminary recommendations to update program descriptions so that membership knows what funding is available, how to apply for it, and how their applications will be assessed and the results evaluated • NTVS Staff completed annual Performance Plans to identify • Program Priorities • Quarterly Activities and Results • Training Needs • Visioning Session held with NTVS Staff to discuss programs and services on June 3, 2013

11. Operations • Budget Challenges • Consultations with Community commenced • Applications to other funding sources • In Progress • Hiring Process for Executive Director • In Progress • Collective Bargaining • Negotiations pending • First meeting scheduled for July 4, 2013