Nunatsiaq Online
NEWS: Nunavut October 26, 2016 - 2:30 pm

Nunavut Inuit org taps trust fund for $48.6 million

Inuit organization's budget up this year with new department, president election

NUNATSIAQ NEWS

Nunavut’s land claims organization has passed its 2016-2017 budget.

And to balance that budget, part of Nunavut Tunngavik’s Inc. new consolidated budget, the Inuit birthright organization requested $48.6 million from the Nunavut Trust in a resolution passed during its annual meeting held Oct. 18 to Oct. 20 in Rankin Inlet.

That figure of $48.6 million from Nunavut Trust represents a five per cent increase over last year’s consolidated budget.

Of that, NTI has requested roughly $22 million.

The amounts distributed to regional Inuit associations include:

• $6,057,711 to the Kitikmeot Inuit Association;

• $6,439,428 to the Kivalliq Inuit Association; and,

• $ 8,954,559 to the Qikiqtani Inuit Association.

Nunavut Trust, the body that which manages and invests the $1.114 billion settlement that Inuit received through the 1993 Nunavut Land Claims Agreement, contained about $1.3 billion in invested assets and accrued income in 2013.

Some of the $48 million from the Nunavut Trust is also to be distributed to the Inuit Heritage Trust ($1.5 million) and NTI’s elders benefits plan ($1.6 million.)

But NTI’s budget has risen this year for other reasons, such as its new department of Inuit Education and Training, which has two staffers, increased support to the Inuit Circumpolar Council and Nunavut Sivuniksavut, and for the NTI presidential election that will take place this winter, NTI said.

Email this story to a friend... Print this page... Bookmark and Share

 THIS WEEK’S ADS

 ADVERTISING