MCK Presents Fiscal Budget 2023/24: $67.3 million

The Mohawk Council of Kahnawake held a press conference this afternoon where they released the annual budget. The 2pm press event saw the presentation of the MCK 2023-2024 fiscal year operating budget of $67.3 million, approved by consensus at a recent MCK council meeting. The budget features highlight’s such as: developments in Housing (with important, detailed information to be released to the community in April), expected increases in Gaming revenues, and five school bus replacements (totaling $2 million). Ratsénhaienhs Lindsay LeBorgne is the lead on the Administrative Affairs Portfolio:

“This year we’ve managed to up our budget to $67.3 million, that’s $4.3 million dollars more than the last fiscal year budget. The past two annual budgets saw the MCK incur surpluses with the new budget is also projected to be in a $4.8 million surplus after all projected revenues and expenses are considered.”

This budget compares to the current fiscal year’s budget of $63 million. The community has, for the most part, weathered the storm of the COVID-19 pandemic. The past two annual budgets saw the MCK incur surpluses; the new budget is also projected to be in a $4.8 million surplus after all projected revenues and expenses are considered. This surplus is due to increased interest rates, projected revenue increases from Electronic Gaming Devices and additional funds received from Indigenous Services Canada. The surplus will be an amount that will be appropriated to the Operational Reserve to cover future operational needs. Executive Director Onerahtókha Marquis on the surplus and the community:

“While we are still in a healthy financial situation, we can never take anything for granted, with a potential recession on the horizon, we must remain mindful and vigilant in our management of the community’s funds. The new MCK Strategic Plan, which will be shared with the community in the coming weeks, will help guide the financial planning and spending in both the short term and the long term. We will continue to develop and tweak the strategic plan for the organization. We will continue on the path toward self-sufficiency and focus on generating own-source revenue to ensure that we can meet all of the evolving needs of the community.”

The budget will be posted in both Iorí:wase and the Eastern Door newspapers and at www.kahnawake.com. The audited financial statements, including those from previous years, are also available online at: www.kahnawake.com/financials