Finance Committee

Report of the Finance Committee

December 2020

Doug Gaetz

The Finance Committee held meetings October 27-28, 2020 and November 30, 2020 and prepared the 2021 and 2022-2023 budgets and have the following recommendations. 

The minutes of the meetings have been posted to UTE web site.

The Committee makes the following recommendations to the Executive Council in regard to the Budget for the year 2021, recommendations 1 and 2. 

Recommendation #1:

Be it resolved that the attached 2021 budget be approved by the Executive Council.

Recommendation #2:

Be it resolved that the unused portion of the line items Education - Regional, Education – National, Non UTE Union events, Political Action / Campaigns, and Computer & Electronics, be carried over until 2022.

The Committee also makes the following recommendations in regard to the upcoming convention, recommendations 3 and 4.  (Items in red represent previously approved recommendations in December 2019).

Recommendation #3:

Be it resolved that the 2021 UTE Triennial National Convention Per Diem rate be set at $105 per day for weekdays and $125 per day on the weekend.

Be it resolved that the 2020 UTE Triennial National Convention Per Diem rate be set at $105 per day for weekdays and $125 per day on the weekend.

Recommendation #4:

Be it resolved that the 2021 UTE Triennial National Convention registration fee be $75.00 per person.

Be it further resolved that if the 2021 UTE Triennial National Convention is held virtually, authority should be granted to the 1st Vice-president, in consultation with the National President, to reduce, or eliminate the registration fee.

Be it resolved that the 2020 UTE Triennial National Convention registration fee be $75.00 per person.

The Committee makes the following recommendations to the Executive Council in regard to the Budget for the years 2022 and 2023, recommendations 5 to 7.  (Items in red represent previously approved recommendations in December 2019).

Recommendation #5:

Be it resolved that the attached 2022-2023 budget be forwarded to the 2021 UTE Triennial National Convention.

Be it resolved that the attached budget be forwarded to the 2020 UTE Triennial National Convention.

Recommendation #6:

Be it resolved that $15,000 from the line item PSAC National Convention, to be held in 2022, be used for promotional items for all delegates and observers in order to promote UTE’s visibility at Convention.

Be it resolved that $15,000 from the line item PSAC National Convention, to be held in 2021, be used for promotional items for all delegates and observers in order to promote UTE’s visibility at Convention.

Recommendation #7:

Be it resolved that the unused portion of the following line items; Education - Regional, Education – National, Non UTE Union events, Political Action / Campaigns, and Computer & Electronics, be carried over until 2023.

The Committee also makes the following recommendation:

Recommendation #8:

Be it resolved that the following line items be approved for overspending:

DATE

LINE ITEM DESCRIPTION

EXPLANATION

 2020 BUDGET

 ACTUAL OR EXPECTED

 OVERAGE

26-Nov-20

Legal

Over budget approval

50,000.00

85,000.00

35,000.00

26-Nov-20

Investment Management

Over budget approval

30,000.00

35,000.00

5,000.00

Respectfully submitted,

Doug Gaetz
Chair of the Committee