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NTI AGM Delegates Approve 2007-08 Budget

NR 06-23 BUD ENG AGM Approves 2007 NTI Budget.doc

(November 15, 2006 –Iqaluit, Nunavut) Nunavut Tunngavik Inc. (NTI) Annual General Meeting delegates today approved the proposed budget for the 2007-08 fiscal year.

The $39 million budget will provide NTI, Regional Inuit Associations, and Inuit Heritage Trust with the financial resources required to carry out their regular operations while implementing the Nunavut Land Claims Agreement.

This budget adheres to NTI’s policy of disciplined spending and provides the fiscal framework within which our decisions can be viewed and held accountable as prudent and wise for our Beneficiaries, said NTI 1st Vice-President and Vice-President of Finance James Eetoolook.

The budget also substantially increases the Nunavut Sivuniksavut program allocation from $85,000 to $175,000. This reflects the importance NTI places upon education, as well as the success of the NS program.

Nunavut Sivuniksavut is an important program for Inuit youth, and for Nunavut. The program is based on the Nunavut Land Claims Agreement, and the additional financial contribution affirms NTI’s commitment to the program, said Eetoolook.

The budget also provides funding of $1 million for the Beneficiary Benefits Plan, $2.1 million for Community Liaison Officers, $2.1 million for regional economic development, and $154,500 for the Qaujisaqtiit Society.

The 2007-08 total approved budget breakdown from Nunavut Trust:

Nunavut Tunngavik Inc. $ 19,631,467

Kitikmeot Inuit Association $ 3,759,881
Kivalliq Inuit Association $ 3,592,943

Qikiqtani Inuit association $ 4,608,235

Inuit Heritage Trust $ 900,152