Asset Management will equip WBAFN First Nation members with the research, guidance and support to enable them to take back control of financial accounting of infrastructure assets.
WBAFN’s Asset Management Project will create an inventory of infrastructure assets and implement a GIS based financial Asset Management system which will include standards and maintenance and business processes to ensure sustainability.
This project is a continuation of the Phase1 Asset Management System Implementation Project, which consisted of implementing the technology infrastructure and creating an Asset Inventory as the basis for the implementation of an Asset Management System, was completed between January 2018 and March 2019. The Phase I project has provided WBAFN the technical infrastructure and management capacity to implement the deliverables of this project. The start date of this project, Phase2 Asset Management System Implementation Project is July 1st, 2019 and end date is June 31, 2020.
While the completion of Phase I of the Asset Management Project provides significant benefits to the member First Nations, it is essential to keep the momentum of the project going through the implementation of Phase II so the 6 member First Nations realize the full benefits of an Asset Management System.
The project involves 6 First Nation Communities generally located in the Parry Sound, Sudbury, and North Bay districts. The Communities are Nipissing First Nation, Dokis First Nation, Wahnapitae First Nation, Henvey Inlet First Nation, Magnetawan First Nation, and Wasauksing First Nation.
Members of Waabnoong Bemjiwang Association of First Nations are in the process of assuming responsibility under the First Nation Land Management Act to have the authority to make laws in relationship to reserve lands, resources and the environment. This responsibility requires First Nations to create, improve and/or maintain a broad range of property, road and infrastructure asst information, such as, but not limited to road right-of-way boundaries, property, title boundaries, road centreline data for 911 and transportation routing, band owned buildings, road signage, bridges, culverts, streetlights, potable water and sewer services. Lack of complete and dependable asset information makes financial planning, decision making, land use planning, reporting to Indigenous Services Canada (ISC) and readiness and ability to implement economic development opportunities difficult and costly.
Lack of local skills, digital data, technology infrastructure, and related standards, and procedures to build and maintain asset information makes it difficult for First Nations to manage financial accounting and to be self-sufficient.
In addition to helping WBAFN meet their obligations and priorities, the project will also help the 6 individual member First Nations meet Public Sector Accounting Board (PSAB) financial accounting requirements, and in particular help Nipissing and Wasauksing First Nations meet their Finance Administration Laws, pursuant to section 9 of the First Nations Fiscal Management Act, as well as provide critical information to support Economic Development Plans and Strategies, Land Use Plans and Community Profile Reports.
The project also includes assessing business opportunity information to support developing a business plan for WBAFN to providing Asset Management Implementation Consulting Services to other First Nations and Tribal Councils.
Implementing the Asset Management System will result in improved relationships with government agencies, such as Indigenous Services Canada (ISC), improving both First Nations and ICS processes and funding formulas while also reducing costs and effort. This includes improving Asset Condition Reporting System (ACRS), First Nations Infrastructure Investment Plan (FNIIP), Tangible Capital Asset and Integrated Capital Management System (ICMS) reporting.