June 6, 2007

Treasurer's Report

Dear Colleagues:

Fiscal year 2006/2007 will close on June 30, 2007. The Budget Committee met on 5/7/07 to review expenses (actual and projected) for this current fiscal year and has prepared a budget that will be voted on today at the membership meetings for fiscal year 2007/2008.

Despite having unprecedented expenses for contract negotiations and arbitrations this year, our treasury remains financially sound. Contract negotiations cost the local $19,876 but were reduced by $10,000 after receiving a very generous donation from UNAP. Arbitration expenses were unusually high this year, totaling $4,730. Examples of grievances sent to arbitration included sick time use, disciplinary action, and job posting with member denial language. An adjustment was made in next year's budget in the event the Local incurs similar expenses.

In February 2007 our dues structure changed after a special UNAP convention convened and voted to adopt a new dues structure which eliminated quarter dues for professional, technical, and CNA members. About 37 members were affected by the change (mostly per diem RN's and CNA's). The new dues structure can also be viewed on our website.

In the last few months our business banking needs have been transferred from the Blackstone River Federal Credit Union to Citizens Bank. The Local currently has (2) checking accounts and a linked Money Market account with Citizens Bank. One checking account is exclusively for payroll expenses. By switching to Citizens Bank, the Local will gain the attention of a personal business banker and will obtain preferred business rates of interest for money market and CD accounts.

Our annual financial compilation will be done by Paul Sarza CPA at the end of this fiscal year. His report should be completed by September 30, 2007 and will be available for any member to review. Please call the office to schedule a time with Jodi to review if interested.

Per our Constitution, Local dues will be adjusted each July 1st to cover any dues increase which will be voted on by the UNAP joint executive board based on, but not exceeding, the cost of living index as of April 1, 2007. I will update members in July if there will be any increase in dues. The last Local increase was in January 2006.

If any member is interested in serving on the Budget committee which meets about twice a year please leave a message at the office for me at 401-765-5527 and I will contact you. 

Thank you.
Pat Hazebrouck, Treasurer Local 5067