The Burns Lake village council has received $577,004.85 in a dividend cheque from Comfor Management Services as part of its annual fiscal year distribution.
It was yet not known how the money would be spent, as mayor Dolores Funk explained to Lakes District News.
“We will be waiting until after the council’s strategic planning session to determine how and when we will utilize these funds,” she said.
That session is planned for April 14, as was decided during the council’s March 12 meeting.
The council plans to write a thank you letter to the Comfor board of directors for the cheque.
The fiscal distribution this year is significantly higher than the $412,000 the village received last year from Comfor.
READ MORE: Burns Lake Comfor reports over $1,774,000 in profits
As partners with Comfor, the Burns Lake and Wet’suwet’en First Nations also received dividend cheques for $577,004.85 each, said Comfor general manager Frank Varga.
“Their payment comprised of $432,351.54 which is equivalent to the K1A license document profit share distribution requirements. In addition, Comfor has a corporate policy to distribute 50 per cent of the next profit above a five per cent profit margin. This is specifically to support each nation and community in their economic development initiatives. This amount equated this year to an additional distribution of $144,653.31 to each nation,” Varga added.
Those sums amount to a total of $1,731,000 for all three parties for the 2017-2018 fiscal year.
The profit distributions will be further explained and acknowledged at Comfor’s annual general meeting on May 16.
Blair McBrideMultimedia reporter
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