Article XIII Finances

Article XIII. FINANCES:

 

Section 1. The Treasurer shall establish and maintain a Non-Profit Organizational bank account for the purpose of depositing initiation fees, dues, assessments, and fines.
Section 2. The Treasurer shall establish and maintain a Non-Profit Organization Federal Employer Identification Number.
Section 3. Annually, the Executive Board shall establish an Operational Budget. The budget shall require approval by a show of hands vote from the General Membership at any General / Business Meeting. A fifteen {15} day written notice posted on the Union bulletin board that a vote on the Budget would be conducted.
Section 4. Members shall be entitled to compensation commensurate to their hourly rate for work hours missed -or- time off while attending required Union functions.
Section 5. Members shall be entitled to reimbursement for all direct out-of-pocket expenses incurred for conducting Union business upon board approval.
Section 6. The expenditure of funds less then one hundred dollars {$100.00} shall require approval from the President, provided, the spending is outside the Operational Budget.
Section 7. The expenditure of funds between one hundred dollars {$100.00} and five hundred dollars {$500.00} shall require approval from the Executive Board, provided the spending is outside the Operational Budget.
Section 8. The expenditure of funds in excess of five hundred dollars {$500.00} shall require approval of the General Membership, provided the spending is outside the Operational Budget.
Section 9. The President can authorize an Emergency expenditure of more then five hundred {$500.00} but less than one thousand {$1,000.00} with the approval of the Executive Board.
Section 10. The purchase of alcohol -or- any intoxicating substances with union funds is strictly prohibited.
Section 11. Any financial communications, reports, records, bank issued statements, expenditure receipts, and taxes will be held on file for a minimum of seven {7} years, unless there are other requirements dictate.
Section 12. Any member in good standing can request in writing and be provided access to any financial communications, reports, records, bank issued statements, expenditure receipts, and taxes within thirty {30} days of said request.
Section 13. The President may send Union Officers to training seminars held by the International Union from time to time. The costs are to be paid by Local Union Funds.
Section 14. The Executive Board shall decide when and if grievance is taken to arbitration.
Section 15. “Set-up” costs, Arbitration costs and costs associated with International Training Seminars are exempt from Article XIII [Sections 6,7,8].
Section 16. LM reports are the sole responsibility of the local union. The required LM1 shall be filed within 90 days of certification as well as annual LM reports that are required to be filed per DOL guidelines.

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