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Treasury
increased $84,000 during 1999
Low expenses & growing membership help finances
By Joe Chambers
Total funds of Local 7-232 increased from $130,182.25 to $214,936.44
during 1999. The actual net worth increased from $90,529.95 to $173,167.19. This
increase was made possible by a year with only limited negotiations, (only the
West Allis Foundry Sale) steady membership at Strattec and growing membership at Briggs and Stratton.
The difference between the total all funds and the actual net worth is
the value of accounts payable at the end of the year. The accounts payable are
normally per capita taxes owed for dues collected the prior month and payroll
taxes owed, both the amount withheld from payroll checks and the employer taxes
payable.
All income and disbursements are examined each month by the trustees of
Local 7-232 during the audit they perform to verify their monthly report to
membership. During March, they also conducted their annual audit for the year of
1999 that was submitted to the International Union. We also filed annual reports
with the Department of Labor and the IRS.
During 1999, Local 7-232 moved to less expensive offices in the basement
of the building we have been in since 1995. This decreased our monthly rent and
locked in a lower rate for 5 years. The landlord paid the expenses for movers
and wiring the office for the computer network as a condition of this move.
We also purchased 2 computers to replace outdated computers, as well as
replacing 3 older dot matrix printers with laser printers for the office
secretary, president and time study office.
We do not have any negotiations scheduled for 2000. We should have
adequate resources for negotiations scheduled for 2001 at both Strattec and
Briggs and Stratton.
Summary of Income and Expenses for Local 7-232 During 1999
|
Checkbook balance beginning of year
|
$
22,350.13 |
| Income
During 1999 |
| Briggs checks for dues
check-off |
$ 904,934.43 |
| Strattec checks for dues
check-off |
$ 186,956.75 |
| Cash Dues |
$
469.88
|
| Proceeds Community
Services Collections |
$ 10,583.92 |
| Reimbursement for Travel |
$
1,659.10 |
| Interest Income |
$
4,913.37 |
| Stale Checks Voided for
re-issue |
$
326.88 |
| Refunds |
$
15.75 |
| Reimbursement - moving
expenses |
$
2,000.00 |
| Reimbursement from
Briggs/Time Study |
$
7,700.00 |
| Reimbursement from Bill
Berdan |
$ 13,580.57 |
| Bank Errors in our favor |
$
2.80
|
| Total
income during 1999 |
$1,133,143.45 |
| Total
to be accounted for |
$1,155,493.58 |
|
|
|
Disbursements during 1999
|
| International Per Capita
Tax |
$ 432,846.94 |
| Per Capita Tax to MCLC,
WCLC & WI. AFL-CIO |
$ 36,677.45 |
| Net Wages for Officers,
Elected Reps & Stewards, Members & Clerical Staff |
$ 234,357.91 |
| Federal Income, Social
Security & Medicare taxes & State Income Taxes from payroll |
$ 132,231.71 |
| State & Federal
Unemployment Compensation Tax |
$
2,646.79 |
| Disburse Payroll
Deductions |
$ 45,427.46 |
| Refund of Dues &
Initiation Fees |
$
6,913.65 |
| Office Rent |
$
25,023.00 |
| Office Supplies Postage
& Stationary |
$ 17,344.78 |
| Office Utilities &
Operating Expenses |
$ 12,551.23 |
| Floral Arrangements for
Funerals of Members & Retirees |
$
931.72 |
| Life Health &
Accident Insurance Premium |
$
30,227.50 |
| Pension Contribution for
Secretary to Union Pension Fund |
$
4,794.02 |
| Tickets to MCLC Fund
Raising Dance |
$
250.00 |
| Conference Per Diem
Expense |
$
635.00 |
| School
Registration & Tuition |
$
3,740.05 |
| Annual Dues for Region X
Council |
$
702.75 |
| Workers Compensation
Insurance Premium |
$
1,685.00 |
| Purchase Office
Equipment, 2 Replacement Computers & 3 Replacement Printers |
$
6,795.39 |
| Premium for Multi-Peril
Insurance Premium |
$
814.00 |
| Hall Rental |
$
1,652.88 |
| Community Services
Committee From Funds Collected |
$ 11,794.65 |
| Premium for Bonding
Insurance |
$
743.00 |
| Charitable Contributions
& Memberships |
$
2,215.00 |
| Labor Press for 500
members in Waukesha County Labor Council |
$
3,025.00 |
| Professional Services
(Attorney Retainer & Fees) |
$
7,103.60 |
| Newsletter Printing,
Postage & Mailing |
$ 17,452.18 |
| Replace Stale Check |
$
26.88 |
| Travel Expenses |
$
5,527.50 |
| Arbitration Expenses |
$
2,252.22 |
| Transferred to Savings |
$ 82,320.18 |
| Total
Disbursements |
$1,130,709.44 |
| Actual Checkbook Balance
End of Year |
$
24,784.14 |
|
|
|
All Funds December 31, 1999
|
| Checkbook balance |
$
24,784.14 |
| Petty cash |
$
300.00 |
| U.S. Government Bonds |
$
5,000.00 |
| Landmark
Credit Union |
$
100,000.00 |
| M & I Money Market
Account |
$
84,852.30 |
| Total
All Funds |
$
214,936.44 |
|
|
| Less
Payable Accounts |
$ 41,769.25 |
| Actual
Net Worth December 31, 1999 |
$ 173,167.19 |
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Membership Meeting