Report of the Finance Committee

Finance Committee
Report of the Finance Committee
June 2022

Doug Gaetz

The committee held a virtual meeting April 27,2022 to review the investments with our investor.

We also reviewed regulation 29.2 and provided a recommendation below.

I would also like to take the opportunity to welcome the newest member to the finance committee, Billy Dempsey, Local President, Bathurst who was elected at the March 2022 president conference as the president representative on finance committee. We look forward to working with Billy.

I also would like to thank Glenn Murphy for all his contribution to the finance committee over the years and wish him well in his future endeavours.

RECOMMENDATION #1

Recommendation-Regulation 29(2)

Whereas Regulation 29(2) states “Requests for funds will be submitted by the member to their Local, who will then transmit them to their RVP.  The RVP will forward the request to the National President.

Whereas it is current practice to send donation requests to the National President and the 1st National Vice President.

Whereas Regulation 29(2) does not conform with current practice.

Be it resolved that Regulation 29(2) be changed to the following: The RVP will forward the request to the National President and the 1st National Vice President with a recommendation

29 (3) The National President may approve donations /sponsorships up to five hundred dollars  ($ 500.00) with the agreement of the 1st Vice President. In the absence of the National president or 1st Vice President, the 2nd National Vice President shall be delegated as one of the two approval officers.

M/S     Doug Gaetz / Cosimo CrupI

Current regulatioN

REGULATION NO. 29 - DONATIONS/SPONSORSHIP GUIDELINES

  1. Under the line item Donations/Sponsorships
    • Donations are defined, as monies given which must be helpful to a Community, Organization, Union or Individual;
    • Sponsorships are defined as monies given to activities; teams or individuals where there are promotional aspects for the Union of Taxation Employees.
  2. Requests for funds will be submitted by the member to their Local, who will then transmit them to their RVP.  The RVP will forward the request to the National President with a recommendation.
  3. The National President may approve donations/sponsorships up to five hundred dollars ($500.00) with the agreement of the 1st Vice President.
  4. All Donations/Sponsorship funds will be approved and expended in the Calendar year.
  5. The maximum sponsorship per request shall be five hundred dollars ($500.00) per year except under exceptional circumstances this may be increased by a two-thirds (2/3) vote of Council.
  6. Every January a complete list of donations/sponsorships will be sent to all Locals. (whom, city and the amount).
  7. All donations/sponsorships cheques will be made out to the organization, team, and individual etc. for whom the amount was approved.
  8. a minimum of two thousand dollars ($2,000) of the line item Donations/Sponsorships be allocated to Strike Appeals and Holiday Relief Funds; and
  9. if less than the $2,000 has been spent or allocated as of December 1st, that the balance be available to other types of Donation/Sponsorships at the December Executive Council meeting.

Respectfully submitted,

Doug Gaetz
Chair of the Committee