Standing Finance Committee

National Board of Directors Meeting

April 2010

 

 

Chair:                                Jeff Lovegrove

 

Committee Members:       Peter Russell

                                          Ace Essex

 

Resource Persons:           Chantal Ladouceur

                                          Jacqueline Rioux

                                          Erik Lupien

 

Introduction

 

The Committee met on Monday, April 19, 2010, and reviewed the CIU Statement of Revenues and Expenditures prepared by Sister Chantal Ladouceur and the CIU Holdings Financial Statements prepared by Sister Jacqueline Rioux.

 

We would like to acknowledge Brother Jim MacLean and Sister Jacqueline Rioux for their successful undertaking of the office renovations that were within budget.

 

We would also like to thank Sisters Ladouceur and Rioux for their excellent work on our finances.

 

Financial Statements, Period Ending January 31, 2010

 

Revenue

 

The union dues for the first six months reveal that we have a surplus of $126,673.50. We wish to underscore that, in the last six (6) months, the number of deductees averaged 11,357 against the budgeted 10,900, which means we have an averaged surplus of 457 deductees per month.

 

The Committee observed that, although there are several lines that exceed budgeted amounts’, overall spending is within budget.

 

National Office Renovations Phase Two

 

The Committee noted that the needed and well-undertaken renovations discussed at our last meeting have just about been completed.  The only outstanding task from that list is the engineer assessment report (heating and air condition) that should be completed in the coming weeks. The Committee is proposing the following, as a second phase, which should complete the modernization of the National Office. These items include office furniture for the Reception and President Secretary’s office, some chairs and ergonomic accessories.

 

Recommendation 1

 

WHEREAS Delegates of the 2008 National Convention approved a zero-dues increase budget; and

 

WHEREAS renovations and office upgrades to the National Office were required to accommodate reorganization; and

 

WHEREAS CIU has adequate funds available from surplus to carry out these projects;

 

BE IT RESOLVED THAT the Board approve the spending of $ 10,406.75 from the current fiscal surplus for these purposes.

 

This report is hereby respectfully submitted,

 

 

 

 

 

_____________________         _____________________       ____________________

     Jeff Lovegrove                              Peter Russell                              Ace Essex

 

CIU Standing Finance Committee