The delegates in attendance at the 26th Biennial Convention showed up and stepped up through the challenges COVID-19 may have presented to ensure the convention was successful. Congratulations to everyone who participated.
As the Secretary-Treasurer, it is the responsibility of my department to plan and execute the convention.
The convention committee members, craft conferences and convention delegates met to discuss, debate and adopt resolutions that will provide our national officers guidance in contract negotiations. Constitutional resolutions that were also adopted by the delegates will amend the current constitution. Those resolution changes will take place and an amended APWU Constitution and Bylaws will come into effect and be available for members.
At the end of the Convention, the Secretary-Treasurer’s department held a Fiduciary Responsibility and QuickBooks training for local Secretary-Treasurers. I like to say that the fiduciary responsibilities training teaches locals what they have to do financially. The QuickBooks training shows them how to do it.
The trainings covered the requirements of the Department of Labor, our national constitution and other legal responsibilities. It also covered a range of financial topics for locals, including financial planning, account management, COPA funds, budgeting and accounting, audits, expenses and insurance. With QuickBooks, attendees learned how to use the software to manage accounts, write checks and prepare reports.
APWU Bonding Renewal Coverage 2022-2025
Effective August 1, 2022 the bond premium was deducted from the local dues check-off (DCO). Local and state affiliates should have received their original bond certificate with correspondence from the Secretary-Treasurer’s Department. It is important to remember the premium deducted from the DCO should not be reported as income received by the local. All bonds and bond changes are continuous and will be renewed automatically at the expiration of the three-year period.
A requirement of 501(c)(5) organizations is to maintain compliance with the Labor Management Reporting Disclosure Act (LMRDA). Sec. 502 (a) of the LMRDA states:
Every officer, agent, shop steward, or other representative or employee of any labor organization (other than a labor organization whose property and annual financial receipts do not exceed $5,000 in value), or of a trust in which a labor organization is interested, who handles funds or other property thereof shall be bonded to provide protection against loss by reason of acts of fraud or dishonesty on his part directly or through connivance with others.
National APWU automatically pays for coverage of $5,000 for each local. However, it is strongly advised local officers obtain bond coverage of 100 percent of all liquid assets. Examples of liquid assets are those assets that are quickly and easily negotiable, such as cash on hand, deposits in any type of financial institution, certificates of deposit, U.S. Treasury securities, corporate stocks and bonds, and accounts and loan receivables. Property of a relatively permanent nature, such as land, buildings, furniture, and fixtures, are not considered a liquid asset. All bond coverage changes must be mailed to the Secretary-Treasurer’s department.