SN Elected Council investments and gaming funds keeping deficit down

Six Nations investments and gaming funds are helping keep Six Nations Elected Council ‘s (SNEC) deficit down. SNEC’s finance committee meeting was told Monday (Feb., 6, 2023) it’s deficit is not as large as predicted. Jenn Court, Director of Financial Reporting and Analysis presented the third quarter financial statements. SIx Nations finance director Anna Cecile is still on sick leave. Court explained some of the reasons the deficit is down are increased interest payments from short term Guaranteed Investment Certificates (GICs) and increased funds from Ontario First Nations Limited Partnership (OFNLP). “We’re continuing to utilize some of our cash in short term investments, guaranteed income investments. That’s where you’ll see cash, lower investments are higher and we’re doing that to capitalize on market interest with substantially higher interest than in…

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