Dene Nation seeing a surplus for 1st time in years, says auditor

After a long day of speeches at the Dene National Assembly in Hay River, N.W.T., delegates got some good news on Tuesday the Dene Nation is finally seeing a surplus.

This year's financial audit, presented at the end of the first day of the assembly,found surplus revenue of $505,000.

"The organization, for the first time in a few years, is actually in a surplus position," said Rick Bisson, a partner with MNPLLP, an auditing firm hired by the Dene Nation.

He said the surplus is thanks largely to a significant increase in revenue from the federal government almost $1 million more than last year. The government contributed $1,424,014 in 2018 compared to $582,622 in2017.

"This is where the biggest difference is," said Bisson.

The Government of the Northwest Territories also increased its contribution, almost doubling last year's contribution, toapproximately$650,000.

Facing a deficit

The move to a surplus marks a change in financial fortunes for the Dene Nation.

Last year, the organization faced a deficit of $167,000. In response, the Dene Nation cut its salary expenditures by about $100,000, according to its financial statement.

In 2016, the Dene Nation faced eviction from its Yellowknife offices on 50Street after failing to pay rent and bills for almost a year.

Dene National Chief Bill Erasmus attributed the lapse to a longstandingand unresolveddispute with the territorial government over the organization's payroll tax.

The Dene Nation manages more than $1.6 million in assets. In the past year, it has employed as many as 10full-time staff, according to Erasmus, paying out almost $800,000 in salaries.