Business, Tourism, Culture and Rural Development
January 11, 2017
Building a Stronger Economy
New Financial Management Program Launched for Community Groups
The Community Sector Council of Newfoundland and Labrador is launching a new pilot program to help community groups in the northeast Avalon and central regions of the province improve their financial management practices.
During an event today, Nick Whalen, Member of Parliament for St. John’s East, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced an investment of $109,400 from ACOA’s Business Development Program for the initiative, while the Honourable Christopher Mitchelmore, Minister of Business, Tourism, Culture and Rural Development, announced $76,625 in support.
These investments will help the Community Sector Council of Newfoundland and Labrador deliver an 18-month partner-based pilot program offering financial management training and mentoring to community groups working in economic development. The community sector contributes to the provincial economy through areas such as employment income, goods and service purchases and enterprise activity. This pilot program will strengthen the ability of participating community-based groups to further contribute to the economy by enabling them to gain a solid foundation in financial management.
The Community Sector Council of Newfoundland and Labrador is a not-for-profit organization dedicated to promoting economic and social well-being in the province. The organization supports and promotes the voluntary community-based sector through research, planning and program delivery.
“The Government of Canada is focused on improving the economy and advancing our growth agenda by working in collaboration with businesses, local communities, and non-profit sector organizations like the Community Sector Council of Newfoundland and Labrador. This initiative will support Newfoundland and Labrador’s community-based sector by enabling participating groups to enhance their skills and become more financially viable.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Canadians expect the community sector not only to use public funds wisely, but also to demonstrate effectiveness through financial reporting and make evidenced based decisions on future expenditures. Through this investment, the Government of Canada is strengthening the regional economy by helping to build financial management capacity in the community sector. I commend the Community Sector Council of Newfoundland and Labrador proposing and delivering this pilot program, and we look forward to the results.”
- Nick Whalen, Member of Parliament, St. John’s East
“The Community Sector Council of Newfoundland and Labrador is a committed partner in supporting nonprofit, community organizations. The pilot project will complement various capacity building tools available for economic development organizations, such as our department’s Community Capacity Building Program. This project will help further develop financial management skills and practices of volunteers and staff working with nonprofit organizations. Some of the participants will include social enterprises, aligning with the Government of Newfoundland and Labrador’s Vision - The Way Forward, which includes a commitment to enhance existing services to the social enterprise sector.”
- The Honourable Christopher Mitchelmore, Minister of Business, Tourism, Culture and Rural Development
“The Community Sector Council of Newfoundland and Labrador is excited to build this partnership with our federal and provincial colleagues as a means to assist community sector organizations which play such an important role in the economic and social progress of our province. This Buy the Books collaboration will work to lay the foundation for enhanced opportunities for groups to build their financial management capacity”
- Penelope Rowe, CEO, Community Sector Council of Newfoundland and Labrador
- 30 -
Media Relations Manager
Department of Business, Tourism, Culture
and Rural Development
Chief Executive Officer
Community Sector Council of
Newfoundland and Labrador
2017 01 11 2:10 p.m.