September 10, 2014

Williams Lake Indian Band Audit Meeting Minutes (unaudited)

For Period Ending March 31, 3014


RR Ron Rassmussen WLIB Certified General Accountant
CW Chris Wycotte WLIB Councillor / SCPP Board of Director / treaty Manager
HM Heather McKenzie WLIB Councillor / Education Coordinator / SCPP Board of Director
MS Marg Shelley WLIB Band Administrator
LB Laurie Billyboy WLIB Bookkeeper/Finance Director
CG Charlotte Gilbert SCPP Board of Director
IS Irene Sure WLIB Corporations Bookkeeper
BL Byron Louie WLIB Economic Development
BM Barb Michel WLIB Bookkeeper
AJ Arnie Jack WLIB Member



1:22 This is the consolidated financial statement, which is the one that went to AANDC

2:51 Im a representative of Fraser Bevz Broughton Chartered Accountants LLP

3:00 Ive been involved in the (WLIB) audit since 2007, so I have pretty good

5:45 Hard Assets

6:47 We had a sizeable amount owing to Peterson (Contracting) $334,000.00

7:55 Twinning hiway 97 will be done 2015 2016

8:08 Net financial asset position is on the books at $ 3,503,000

8:39 Liquidity Ratio. The bands is 2.09, thats well in excess of what would happen,
what they would call unfavorable. Unfavorable happens if your ratio is less than
.9. We are two and a half times above that.

Our Sustainability Ratio is 2.39. They say Unfavorable at .5! We are almost five
times better.

The Adjusted Working Capital to Revenue Ratio is .46. In AANDC terms
Unfavorable occurs at .06

The ratios that the band are carrying are extremely good

10:59 The little church to the west of us $ 130,000 dollars

1154: Band Equity at the end of March 2014 is $ 17,564,000

13:25 Revenue is 7.2 Million

13:42 Working revenue is 5.9 Million

13.53 Net Revenue is almost $ 700,000

18:54 Financial statements are presented in accordance with accounting principles that
are used for local governments as required by AANDC

25:44 Note 23 talks about Contingent Asset is the award that was made to the
band by the judge who had been looking after this deliberation in June of
2013 Canada chose not to honor what the judge said so Canada has
asked for a judicial review and that Judicial Review is ongoing

28:55 106 schedules for the band

37.05. BCL and SCPP 200k coming in on annual basis

37.20 Internal Controls in Place

37.38 Band Revenue Expenditure in place

38.47 AJ Re: Rick Gilbert, December 17, 1997. In the absence of a Band Revenue
Expenditure Bylaw are we governed by the Federal Financial Administration
Act in its entirety?

39.11 RR ISO

39:18 RR Band Financial Bylaw

39:59 RR Out of Place

40:24 MS - September 2014 to post on www.williamslakeband.ca

41:15 Revenues and Expenditures

41:28 MS Weve been workin on this for 5 years hey Laurie Billyboy

41:47 MS Its 73 76 pages hey Laurie Billyboy

42:03 Social Media

43:30 Foresightedness

43:38 MS Everything on band website, that is a good idea

44:00 RR .46 and .06 AANDC

45:20 Liability Brent Bursey treaty debt

45:48 Has Rassmussen taken the position that the treaty debt is not a liability on the
band?

46:04 12 Year repayment clause

46:20 RR Theres 24 million owing but thats ok

RR If you dont have an AIP (Agreement in Principle) you dont have to
pay 24 million back

46:49 RR BCtC does not know for sure whether there is a liability by each of
the bands because they dont know yet either

47:42 RR Canada would likely not force the bands to kick in 6 million

48:08 Arent the terms of payment for the treaty in the funding agreement

48:43 Contingent maybe maybe not

52:02 RR Dan Gill BC treaty Commission

54:04 RR The AIP is going to conceptually say that the 24 million is forgiven
That is what youre treaty people should be negotiating

54:14 RR Im just the auditor

54:40 But they could just give a dollar for that (ICC) claim
The judicial review could say stick in your ear

55.41.24 - TREATY

CW There was an offer about two weeks ago. But its under review. So its not accepted.
Its not being.. considered right now

AJ What was the offer?

CW The offer was 82,000 hectares of land plus 3! 35 million dollars in cash

AJ 35 Million in cash, for all 4 bands?

CW Yes

AJ - How many hectares, sorry?

CW 82,000 hectares

AJ 82,000 for all four bands?

CW mmmhuh!but thats under review

RR But thats not each, thats not all,

CW Yeah

RR Thats aggregate

CW (nods head)

AJ So!

CW And that was an offer ((shakes head)) that probably thats!you know!under
review by all four communities

AJ Is there a preliminary assessment if that (offer) is going to be accepted or not?

CW I dont think its would be accepted, its under review

AJ You dont think its going to be accepted?

CW (shakes head) uh uh

End --- 56:46

58:38 CW There was no offer made in 2004

Sugar Cane Petroleum Products (SCPP)


1:01:06 Old Pumps

1:01:26 TreadPro owes SCPP $691,143.00

1:08:00 We have no financial information on the CA Holdings company itself

1:08:47 Board of Directors (for SCPP) are Chris Wycotte, Heather McKenzie,
Charlotte Gilbert and Anne Louie

Three of them are here

1:09:12 CG As a board of director we dont have those numbers (CA Holdings)
available to us right now

1:10:23 BL Im under the impression! Did CA Holdings have tobacco sales
included as a part of the convenience store? I thought the band had along
with Richard tobacco and the GAS SALES

1:10:42 IS As part of the agreement prior to the band taking over the tobacco
Cheryl (half of CA Holdings LTD.) Sellars provided 40% (inaudible) on the
net sales so that is included in these numbers here because we had! like
at the end of every month she would calculate in tobacco. It would go to
the SCPP as part of their doing business in the store

1:11:24 RR I cant sit here and say what the numbers will be

1:11:31 AJ That is why I was asking three (SCPP) board members sitting here

1:14:03 RR Band members are benefitting to the tune of $76,000 plus wages

1:01:06 RR All Im saying is what the band has done is its attempted to keep
hands off from all the corporations. Thats why they got the board of
directors that are responsible for the effective operations. Thats why
there are board of directors meetings, and, the end of the year, thats
effectively the first time they see this information! cause its vested in the
board of directors generated in part by Irene Sure

1:31:23 Richard Sellars reported 15,000/yr on INAC/AANDC website, where is
earnings from the Chief William Gas Bar and R. Sellars Trucking