MCK announces 2016 - 2017 Budget

03/31/2016

The Mohawk Council of Kahnaw�:ke (MCK) has finalized the 2016-2017 fiscal year budget (April 1, 2016 to March 31, 2017). The new budget was approved unanimously at the March 7, 2016 Chief and Council meeting and is $46,282,998. The first draft of the budget projected an operational deficit of approximately $940,000, the lowest it has been in five 5 years. This was a result of a higher than expected United States dollar (USD) exchange and reducing administrative costs, as well as overhead savings.

The 2016/2017 operating expenses are only slightly higher than last year, while less money was needed from Appropriated Reserves.

Other important points to consider about the 2016/2017 budget:

�    USD exchange will once again generate non-recurring revenue
�    Kahnaw�:ke Sports Complex will breakeven with the additional revenue from the digital billboard
�    No mortgage interest was allocated to Operations, all remained with Housing
�    Operating budget is in better shape than it has been in the past five years
�    Without new revenue streams operational deficits will remain

�All things considered, we are pleased that we�ve been able to present a stabilized budget,� said Grand Chief Joseph Tokwiro Norton. �We have to be clear, though: there are still huge challenges that we have to overcome in order to deliver the services that the community needs and has come to expect. With that in mind we�re continuing to explore every conceivable option and opportunity in order to give ourselves as much self-sufficiency as possible.�

�We really appreciate the work that our management team and finance department have put into the budgets of the past few years,� said Chief Kahsennenhawe Sky-Deer, who is the lead on the Finance, Administration & Operations Committee. �It hasn�t been a secret that these are difficult times financially, but the MCK has made every effort to increase efficiency and to stretch every dollar to the limit. Thanks to the staff for their understanding and support, and to the community for its understanding.�