NTI Board of Directors Approves Budget

The Nunavut Tunngavik Inc. (NTI) Board of Directors approved its operating budget for the 2015/16 fiscal year during the meeting in Baker Lake this week. NTI President Cathy Towtongie said the budget, which flows from the investment income generated by the land claims money invested by the Nunavut Trust, allows NTI and other Designated Inuit Organizations (DIOs) to serve the interests of Inuit while ensuring spending is fiscally responsible. This year’s total distribution from the Nunavut Trust represents a three per cent increase over last year’s budget.

“The NTI Board is committed to ensuring that the spending by our organizations is well-planned and executed in a way that leads to full implementation of the Nunavut Land Claims Agreement,” said Towtongie.

The approved funding request from Nunavut Trust for 2015/16 is listed below.

Nunavut Tunngavik Inc. $ 20,089,142
Kitikmeot Inuit Association 4,847,136
Kivalliq Inuit Association 4,747,106
Qikiqtani Inuit Association 6,384,887
Inuit Heritage Trust 1,495,420
Beneficiary Benefits Plan 1,000,000
Community Liaison Officers 2,849,523
Additional Spending Requests:

NIRC-Economic Initiatives Funding 1,453.198
NIRC – Sivummut Funding 300,000

Subtotal 43,166,412
Elders Benefit Plan 1,719,120

TOTAL REQUESTED $ 44,885,532