The majority of Fort McKay First Nation's operating budget comes from Own Source Revenue (OSR). The Fort McKay First Nation generates revenue from the Fort McKay Group of Companies and from our Joint Ventures. The Fort McKay Group of Companies provides a variety of services to the surrounding oil sands industries and is 100% owned and operated by the Fort McKay First Nation. Please visit www.fortmckaygroup.com for more information.
A Joint Venture (JV) is a new business entity created by entering into a partnership with an existing corporation. As owner of 51% or more of each JV, the Fort McKay First Nation appoints a Board of Directors for each company whose role is to oversee the operation of the company and to ensure the company attains profit targets. Each JV is created as a stand-alone company that is run independently from the First Nation Administration.
Our Joint Ventures include:
- Creeburn Lake Lodge
- Barge Landing Lodge
- First North Catering
- Poplar Point Catering
- Caribou Energy Park
- Athabaskan Resource Company (ARC)
- Hammerstone Products
Since the signing of the Treaty Land Entitlement Agreement in 2005, the Fort McKay First Nation gained greater control over lands and resources in their traditional territory. With this came the authority for the First Nation to assess and collect property taxes on land developed for Industrial use. Any interest in land that is wholly occupied or possessed by a member of the First Nation is exempted from this by-law. The Fort McKay First Nation assesses property taxes to the businesses on First Nation Reserve Lands at a rate that is competitive with the RMWB to provide a source of revenue that is consistent with the neighbouring RMWB. In accordance with the guidelines set out by the First Nations Tax Commission, we hereby disclose the following tax rates for 2012.