St'át'imc Nation

Rumour: "Communities won't have control of the Trust funds."

Each community has direct access to their share of the funds. The Trust would invest money collectively, and share the cost of administration. By working together, we will reduce the cost of administration and drastically increase returns on investment.

The trust was designed with very broad purposes so each community would have access to the funds to use on any project or activity that fits into the broad trust purposes such as education, culture, job creation, services and buildings. Each community will have direct and unhindered access to their share of the monies. Chief and Council are ineligible to be trustees.

• Each participating community receives money from the trust and may use these monies for a broad range of trust purposes that benefit their community.
• Each community will appoint a trustee to govern the trust who is not a chief or councillor.
• Each community must select a trustee (by vote or by appointment, for example).
• Trustees will be traineed to do all the work required.
• An administrative trustee, an expert in trust administration, will be appointed to assist and oversee the management of the trust.
• The administrative trustee will be responsible for regular reporting to the communities and the SCC.
• An investment manager will be selected by the trust to invest the money.

Bottom Line: Communities will have direct and unhindered access to their share of the Trust Funds. The funds need to be used for the trust purposes, which are designed to benefit the whole community including off-reserve members.