Coalition Says 2009-10 Financial Statements Prove MNBC is Drowning in Debt and Near Death

From 12 years expperience, I think every Metis organization has their own little ways of doing things and its' not always good.....

Wednesday, September 15th, 2010
Memorandum from Daryl Piper
In a stunning turnaround from MNBC’s normal practice of hiding pertinent
financial information from the citizens, the Métis Nation British Columbia has posted on its own website their 2009‐2010 MNBC Annual Report that includes the financial statements covering the financial affairs for 12 months from April 1st, 2009 to March 31st, 2010.
The MNBC has overspent recklessly in almost every category and has exhausted its cash reserves to fund programs, pay for its school, or pay the salary of its political leaders and paid administrators; here are some glaring examples from the financial statements:
1. MNBC has recklessly accumulated an organizational debt of $1,788,932, an addition $1,299,334.00 was added in the 2009‐2010 Finance Statements. Refer to pages 75 and read Note 13 on page 81.
2. MNBC is still responsible to the Royal Bank for a demand loan of $2,167,320.00 and they have deferred payments to June 15th, 201. Refer to Page 80.
3. Métis Education and Employment Trust (according to note 6) has been plundered and continues to be in debt $515,000.00. MNBC has allegedly provided a reserve of $213 670.00 for the possible non‐recovery of this debt. In other words the MNBC Board of Directors has forgiven themselves for the $213 670.00 knowing they will likely never realize the remaining $301,612.00 still owing and yet the statements still list this final amount as a revenues. If not realized, this will be added to the 2010‐2011 financial statements as further debt. Refer to Page 79.
4. During the 2009 MNBC Annual General Meeting (plus several times during this past year) their representatives guaranteed that overall MNBC organizational administration would be significantly reduced. According to the 2009/2010 Financial Report administration has actually increased by 4% (from 16% ‐ 20%) which has resulted in over $300,0000.00 additional administration fees being spent from the previous fiscal year. Refer to Page 83.
5. MNBC legal fees continue to increase totaling over $154,948 again in 2009‐2010 (page 83).
6. MNBC has charged additional administration fees of $2 046 213.00 resulting in an additional deficit in their “projects” budget of $965,762.00. Refer to Page 75.
7. No mention of the current lien filed by the Province of British Columbia as the Provincial Property Tax (PPT) of $106 392.82 that MNBC confessed themselves in a recent correspondence dated September 13th, 2010 that they have been made aware of since February 2010. Why did the auditor not specifically list this legal responsibility in the “notes” section of the Financial Report? Please review the dates the auditor completed this report, August 20th, 2010. Refer to page 66.
8. Plus many other major financial concerns…
It leaves a bitter taste in all of our mouths in what should have been a promising potential for Métis people and our families and particularly our children to advance ahead with other Aboriginal communities prospering in the post 2010 Olympic period.
Our integrity, intelligence and honesty are now irreparably damaged by characters like CEO Malonie
Langthorne, CFO Cora David, President Bruce Dumont, Vice President Dave Hodgson, Treasurer Dan Pope,

here's a video from coalition leader Keith Henry ;