Members of Cold Lake First Nations are raising questions about how leadership is spending the band's money. But some band members say they are lacking basic needs. Members don't see 'actual numbers' in budgetWhen CBC News first reported on the housing struggle between band members and leaders on Cold Lake First Nations, the councillor responsible for managing the housing portfolio said band members approve the budget each year. Asset-rich and cash-poorDespite the most recent financial statements indicating Cold Lake First Nations has more than $100 million in assets, the band is cash-poor, said Edmonton forensic accountant Justin Thoman. Consolidated financial statements from 2016-17 show Cold Lake First Nations invested $66 million in 28 companies that returned the band $186,000 in income.

Source: CBC News March 20, 2018 10:52 UTC