Media Centre

NTI AGM Delegates Approve 2004-05 Budget

NR 03-26 KIN ENG NTI Budget.doc

(November 7, 2003 — Sanikiluaq, Nunavut) Nunavut Tunngavik Inc. (NTI) Annual General Meeting delegates today approved the proposed budget for the 2004-2005 fiscal year. The $35 million budget allows for the continued effective operation of NTI, the Regional Inuit Associations and Inuit Heritage Trust, as well as growth in the areas of regional economic developments and the full implementation of the Community Liaison Officers’ positions in all Nunavut communities.

“The budge we have approved for the 2004-05 fiscal year reflects the commitment NTI has to responsible financial management. We are obligated to spend our money wisely in order to ensure our economic outlook and the legacy of Nunavut remains positive for future generations of Inuit”, said Vice President Finance Paul Kaludjak. “This budget reflects that”, he said.

Copies of the budget summary are available upon request.

The 2004-05 total approved budget will require a total of $35,040,451 from the Nunavut Trust as follows:

Nunavut Tunngavik Inc. $18,839,615