(Cowichan Tribes 2024-25 annual report)
Cowichan Tribes’ latest annual report provides financial insight into BC’s largest band
Cowichan Tribes, the largest band in BC, reported total revenues of $144.1 million last year — the result of “federal and provincial partners,” own-source revenues, and band businesses.
That’s up from $123.9 million in the previous year, according to the band’s 2024-25 annual report.
Revenue from Indigenous Services Canada accounted for almost $80 million, 55 per cent of the total. The BC government provided another $10.8 million, or 7.5 per cent.
The band reported a total registered population of 5,538. Of those, 2,570 — close to half — live off-reserve.
(Cowichan Tribes 2024-25 annual report)
Own-source revenues included $6.5 million from investment income and $1.6 million in gaming revenue (Chances Cowichan).
Tribes’ community forest K1K license covering 1,785 hectares near Skutz Falls “generated a profit of $1,032,833.”
Eligible band members received $334.89 per person from distribution of a tobacco tax, according to the annual report.
Total expenditures amounted to $92.5 million last year.
The office of the Chief and council cost $630,221.
In terms of cannabis sales and production, Tribes reported that the “divestiture of the two Victoria retail locations, combined with the closure of United Greeneries operations (in North Cowichan), reflects a proactive decision to mitigate further production losses and reallocate resources to higher-margin opportunities.”
(Cowichan Tribes 2024-25 annual report)
Tribes also reported long-term debt of $7.4 million, noting it reduced its debt load by 53 per cent during the year by repaying a loan to the First Nations Finance Authority.
The band has nine reserves totalling 2,400 hectares, on which there are 665 homes, including private homes and rentals.
(Cowichan Tribes 2024-25 annual report)
Tribes employed 488 people last year, including 306 permanent, 102 casual and 80 term employees.
Tribes received about $1 million in grants last year from the following sources:
— $411,000, spill response landing craft and emergency supports, Canadian Coast Guard Co-Developed Community Response
— $238,000, Marine Pollution Response Capacity Building, Canadian Coast Guard Co-Developed Community Response
— $150,000, Operational Fuel Treatment, First Nations Emergency Services Society
— $150,000, Disaster Risk Mitigation, Union of BC Municipalities
— $40,000, Fire Equipment, Union of BC Municipalities
— $40,000, Emergency Operational Equipment, Union of BC Municipalities
— $40,000, Emergency Support Services, Union of BC Municipalities
The annual report said Cowichan Tribes "achieved a healthy surplus of $51 million," adding that overall the "accumulated surplus" reached $239 million.
The BC government defines accumulated surplus as the “total amount of assets, both financial and non‐financial, less any liabilities of the local government.
“The accumulated surplus is a key indicator of the financial resources a local government has available to provide future services to its citizens and meet its ongoing financial commitments. It consists of both cash and non‐cash components.”
(Cowichan Tribes 2024-25 annual report. "Breakdown own source revenue - expenditures")
The annual report covers the period Apr. 1, 2024, to Mar. 31, 2025.
Read it here: https://cowichantribes.com/application/files/2717/6063/7685/Annual_report_2025_-_Single_pages_Version.pdf
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