(November 24, 2011 – Cambridge Bay, Nunavut) The Nunavut Tunngavik Inc. Annual General Meeting of members wrapped up in Cambridge Bay today. NTI President Cathy Towtongie called the meeting productive and efficient.
“Our meetings went very well. Members approved the annual funding request from the Nunavut Trust, reviewed and approved the audited financial statements and the 2011 NTI Annual Report, and approved the Resource Revenue Policy,” said Towtongie. During the discussion of NTI’s audited financial statements, Towtongie said the auditors commended the organization on the excellent state of its financial management.
The Resource Revenue Policy established a consensus-based model amongst NTI and the Regional Inuit Associations to manage resource revenue from Inuit owned lands, and calls for the creation of a Resource Revenue Trust to manage and distribute resource revenue.
NTI’s members will meet in Iqaluit next year in October for their annual meeting.
The approved funding request from Nunavut Trust for 2011/12 is listed below.
| Nunavut Tunngavik Inc. | $ 19,261,378 | |
| Kitikmeot Inuit Association | 4,722,343 | |
| Kivalliq Inuit Association | 4,174,264 | |
| Qikiqtani Inuit Association | 5,487,089 | |
| Inuit Heritage Trust | 1,324,577 | |
| Beneficiary Benefits Plan | 220,975 | |
| Community Liaison Officers | 2,605,310 | |
| Additional Spending Requests: | ||
| NIRC-Economic Initiatives Funding | 1,453,198 | |
| NIRC – Sivummut Funding | 300,000 | |
| Kivalliq Inuit Association | 363,772 | |
| 2,116,970 | ||
| Subtotal | 39,912,906 | |
| Elders Benefit Plan | 2,160,000 | |
| TOTAL FUNDS REQUESTED FROM NUNAVUT TRUST | $ 42,072,906 | |
