What is a Tribal Council?
A Tribal Council is a type of First Nations government. Tribal Councils are institutions established as a grouping of bands with common interests who voluntarily join together to provide advisory and/or program services to member bands. Many Tribal Councils aspire to advance the economic development of their member First Nations.
Are there other tribal councils in Saskatchewan?
There are nine tribal councils. There are 74 First Nations in Saskatchewan and 61 of those are affiliated to one of the nine Saskatchewan Tribal Councils.
Why does a Tribal Council need a corporate development company?
Successful business development requires decisions to be made quickly in a stable and relatively consistent environment. A well governed corporate development company can help Tribal Councils (or other governing bodies like individual bands) pursue economic development without the disruption of political agendas which may slow down progress and derail long-term planning. Smart, accountable and transparent governance provided by the Board of Directors ensures that a corporate development company like RDI is free to move at the pace of business, but is always accountable to the First Nations it serves.
How does RDI report to its shareholders?
RDI has nine shareholders – the nine First Nations of the Meadow Lake Tribal Council. These shareholders each hold a seat on RDI’s Board of Directors, usually filled by the band’s Chief, and are regularly updated on the progress and direction of the company at Board of Directors meetings.
How are dividends paid to shareholders?
At the end of the fiscal year RDI’s Board of Directors reviews the financial standing of RDI’s holdings and determines how much of the profits will be reinvested for long-term future growth, and how much will be paid out to the bands in cash dividends. In making this decision, the Board must balance the current needs of the bands with the needs of future generations who will rely on the ongoing success of RDI’s investments. Every band receives the same dividend, and each band’s administration decides on how those dividends are used within their community.