Squamish Nation Council Approves 2024/2025 Annual Budget and 5-Year Financial Plan
Investing in Housing, Healthcare, and the Culture
This week has marked a big moment for us as the Squamish Nation Council gave the green light to our 2024/2025 Annual Budget and 5-Year Financial Plan. It’s been quite the journey, with months of careful planning and hard work leading up to this point. From September onwards, the Squamish Nation has been working together to shape this budget, and it’s finally come together after six months of intense effort.
Today, I’m absolutely thrilled to give you a sneak peek into our 2024 Budget. The Squamish Nation continues to lead exciting initiatives and investments. But this budget isn’t just about numbers; it reflects our deep commitment to empowering everyone in our Squamish Nation family.
Priorities Across Generations and Locations
From the youngest members to our revered elders, the Squamish Nation’s priorities remain steadfast: housing, cultural programming, and health services.
The 2024 budget will see investments in various key areas, including:
Squamish Valley Community Development Plan: Fostering the growth and development of the Squamish Valley community through strategic planning initiatives. This plan will guide where new housing, community centres, schools, and other services should be provided.
Expansion of Elder Care and Services: Enhancing support and services for our revered elders, ensuring their well-being and comfort.
Committed Funding for the Rental Assistance Program until 2026: Providing stable and reliable assistance to individuals and families needing housing support.
Development and Implementation of a 600 Affordable Homes Plan: Address the pressing need for affordable housing by developing and implementing a comprehensive plan to create 600 new affordable homes in addition to the 400 already planned or currently under construction.
Introduction of New Community Amenities: We are introducing new community amenities, including health clinics, recreational facilities, and community longhouses, to enrich the lives of our community members.
Moreover, our commitment extends beyond individuals to encompass geographical diversity. Whether nestled along the Squamish Nation communities on the North shore or amidst the Squamish Valley mountains, housing, culture/language preservation, and health services are fundamental priorities. Every community matters deeply in our collective pursuit of thriving communities.
Investing in Our Future
Our budget acknowledges the invaluable support from government transfers and programs, amounting to $56.7 million. This support empowers us to allocate $129 million towards vital programs and services, ensuring that our community’s needs are met and growth opportunities are abundant.
Additionally, leases and taxation play a crucial role in funding our initiatives. Anticipated revenue of $45.4 million from leases and $15.5 million from taxation underscores our unique position as a First Nation within a highly urban context. Each dollar collected contributes to the collective prosperity and well-being of our community.
Financial Highlights
In the upcoming fiscal year, the Squamish Nation anticipates revenue of $145.8 million, with expenditures totalling $138.5 million, leaving a surplus of $7.2 million. This surplus isn’t just a number; it’s a testament to prudent financial management and strategic planning to ensure the prosperity of our community. Our past leaders reminded us that we’re not just managing money, but we’re managing wealth.
For me, managing wealth means strategically handling and overseeing our financial assets and resources to achieve our community goals and objectives. It also means budgeting, investing, saving, and planning for the future to maximize wealth accumulation, preserve capital in real terms, and minimize financial risks. Budget 2024 continues the trend of the Squamish Nation investing in our community today and in our people to come.
Building a Sustainable Future Together
Our budget’s core commitment is expanding service in our community’s priority areas. We set a course for growth, resilience, and cultural preservation through careful budgeting, strategic planning, and generational planning. Together, we pave the way for a future where prosperity is shared and the traditions of our ancestors continue to thrive.
The Squamish Nation’s budget for 2024/25 isn’t just a financial plan; it’s a roadmap toward a healthier and connected community. I’m excited about the years ahead and grateful to the Squamish Nation Council for making a wise, prudent, and fiscally transparent decision on behalf of our people.
Next Steps:
In the coming weeks, the Squamish Nation is poised to unveil the detailed 2024 Budget. This unveiling underscores our unwavering dedication to transparency, ensuring our valued community members can witness firsthand where our investments are directed. But our commitment doesn’t stop there. There will be more announcements about expanding or investing in specific programs and services that meet our community’s priorities. I believe that with our 2024 Budget, we’re laying the groundwork for the prosperity of future generations.