FSIN Hoping To Be Debt-Free Within Two Years

Wednesday, July 29, 2009 at 14:57



The Federation of Saskatchewan Indian Nations says it’s well on its way to getting out of debt.


Two years ago, the FSIN revealed it had a debt of $1.6-million.


Since then, the federation has posted consecutive surpluses.


The surplus for the 2008-2009 fiscal year was $388,000.


FSIN Vice-Chief Morley Watson says that even with this improvement, the federation will remain on the Indian Affairs remedial management plan.


Watson says the FSIN has been able to post a surplus because of steps like closing its Fort Qu’Appelle office, holding assemblies at more cost-effective venues, and having fewer people doing more.


The federation’s debt now sits at just over $1-million.


Watson says FSIN officials hope to retire the debt in two to four years.