Shoal Lake No.40

Financial data for Shoal Lake No.40 for fiscal year 2016-17. Shoal Lake No.40 is a First Nation in Ontario with a registered population of 708 and an on-reserve population of 317. Information is extracted from publicly available annual reports published under the First Nations Financial Transparency Act.

Revenue and Expenses FY 2016-17

Visual breakdown of Shoal Lake No.40's revenue sources and how funds were spent during fiscal year 2016-17.

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Financial Summary FY 2016-17

Surplus/Deficit
The difference between total revenue and total expenses. A surplus indicates revenue exceeded expenses.
$939K surplus
Balance for FY 2016-17
Total Revenue
All revenue collected during the fiscal year, including transfers, own-source revenue, and other funding.
$8.88M
Total revenue in FY 2016-17
Total Expenses
All expenses incurred during the fiscal year including program delivery, administration, and capital costs.
$7.94M
Total expenses in FY 2016-17

Statement of Financial Position

Assets, liabilities, and net financial position as of the end of fiscal year 2016-17.

Total Financial Assets
Cash, investments, accounts receivable, and other assets that can be converted to cash.
$8.92M
As of fiscal year end 2016-17
Tangible Capital Assets
Land, buildings, equipment, vehicles, and infrastructure owned by the First Nation.
$8.82M
As of fiscal year end 2016-17
Accumulated Surplus
The cumulative surplus accumulated over time from operations.
$10.07M
Total accumulated surplus

Land Claims

Historical and ongoing land claims involving Shoal Lake No.40.

ClaimStatusLast UpdateTotal Payments
Garden Islands
Alleges that certain islands in Indian Bay of Shoal Lake were duly set aside for them under Treaty 3 and never validly surrendered or expropriated.
Invited to Negotiate
Active
Feb 2019
-
GWWD Expropriation & Surrender
Alleged inadequate compensation for lands taken for water storage and supply purposes for Greater Winnepeg Water District Project and inadequate compensation for sand and gravel taken for same project.
Other
File Closed
Oct 2007
-
Headlands
Breach of fiduciary obligation regarding the 1894 agreement between Canada and Ontario, and the later revocation of this portion of the agreement by Ontario in 1915 (Canada / Ontario Boundary Dispute); involves IR# 40 and 34 B-2 (held in common with Iskatewizaggegan #39 Independent FN.)
Other
File Closed
Apr 2008
-
Flooding
Alleges flooding of reserve lands due to artificially high water levels created by dams at Lake of the Woods.
Invited to Negotiate
Active
Sep 2011
-
Treaty 3 Agricultural Benefits
Alleges the failure to provide suitable Agricultural Lands and Agricultural Support, including equipment, livestock, and seeds, as set out under Treaty 3.
Under Assessment
Date Research & Analysis started
Sep 2025
-
Total$0

Remuneration and Expenses

Salaries, honoraria, travel, and other expenses paid to elected officials and senior employees during fiscal year 2016-17.

PositionNameMonthsRemuneration [Note 2]Expenses [Note 3]Total
ChiefIrwin Redsky12$66,221$14,099$80,320
CouncillorBrenda Freel12$63,375$52,737$116,112
CouncillorBilly Wahpay12$57,752$46,156$103,908
CouncillorWyne Redsky12$57,225$15,360$72,585
CouncillorVernon Redsky12$66,478$26,005$92,483
Total$311,051$154,357$465,408

This schedule is unaudited. Prepared by: MNP LLP

Sources

Financial data is sourced from annual reports published under the First Nations Financial Transparency Act (FNFTA). Data is extracted using automated processes and may contain errors. If you notice any issues, please contact us.