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Nunavut Tunngavik Inc. Approves Financial Strategic Plan

NR 04-34 TEN ENG Strategic Plan.doc

(November 5, 2004 – Rankin Inlet, Nunavut) Members at the 2004 Nunavut Tunngavik Inc. (NTI) Annual General Meeting in Rankin Inlet today approved an updated Financial Strategic Plan to cover the period out to 2020.

The new plan updates and extends the existing Financial Strategic Plan that was developed in 2001 to cover the period up to 2011.

“The primary goal of the updated Financial Strategic Plan is to ensure that Inuit money is well managed, said Acting Vice-President of Finance James Eetoolook. “We are clearly demonstrating to Inuit that our financial planning is responsible, and that we are committed to developing and maintaining a solid plan for managing our financial affairs, he said.

The Plan takes into account the changes and variations that have taken place since the first plan was developed in 1994, including changing operational requirements, a three per cent cap on annual budget increases introduced in 2001, and an Excess/Shortfall and Spending Policy created to help meet Financial Plan goals.

The AGM membership also created a new Financial Strategic Plan Committee whose role will be to review and update the Financial Strategic Plan at least once per year to ensure that it remains an effective instrument of financial management. This Committee will include representatives from NTI and the Nunavut Trust.

For further information:

Kerry McCluskey
Director of Communications
Nunavut Tunngavik Incorporated
Tel: (867) 645-2129
Fax:(867) 645-2138