Deadline looms for First Nation to disclose finances

Time is ticking down for the Liard First Nation to comply with a federal order to disclose its financial details.

Time is ticking down for the Liard First Nation to comply with a federal order to disclose its financial details.

Under the First Nations Financial Transparency Act, Yukon’s unsigned First Nations were given 120 days to post their financial statements online.

Those statements include the salaries and expenses of its chiefs and councillors.

The Liard First Nation is the Yukon’s one remaining First Nation that hasn’t yet provided this information.

The First Nation was put under third party management at the end of August.

In a news release issued on Monday, Aboriginal Affairs Minister Bernard Valcourt said more than 77 per cent of First Nations had complied with the ruling. The initial deadline set by Valcourt was July 29.

First Nations were then given a 120-day extension and the new deadline is Nov. 26.

The transparency act applies to the 582 First Nations in Canada that are bands under the Indian Act but not to First Nations that already have self-governing agreements.

Penalties for failing to comply include potential losses in funding.