Marc Brière
The Committee met at the UTE National Office on May 11th and 12th, 2015.
IN ATTENDANCE: Marc Brière – Chair and 1st National Vice-President, Doug Gaetz – Co-Chair and RVP-Atlantic, Gary Esslinger – Co-Chair and RVP-Prairies, David Webster – Presidents’ Representative and Vice-President Kingston - Local 00011, Stephanie Wolff – Technical Advisor.
The Committee discussed, reviewed and approved the Financial Statements for the month of February 2015. It did not notice any over expenditures as of February 28, 2015. The Committee also discussed and reviewed the investments for the months of January, February and March 2015.
The Committee discussed the fact that an amount of $417,000.00 has been budgeted for the year 2016 regarding the upcoming UTE Health & Safety National Conference and that the said conference will be held in November of the year 2015.
The Committee also reviewed its mandate and the UTE Statement of Investment Policy. It also reviewed the “UTE Financial Statement Line Item Review Book”.
The Committee also reviewed UTE’s current practice to pay an additional amount (top up) to its delegates participating to some PSAC events.
The Committee also discussed and reviewed the form prescribed by the UTE to obtain the reimbursement of the allowance for having an observer from the local attend to the Presidents’ Conference.
The Committee also met with Howard Greenberg, UTE’s Investment Advisor from CIBC Wood Gundy to discuss and review our investment portfolio. We have assessed the portfolio performance and have also discussed future market conditions.
Finally, the Committee had a discussion about the iPad tablets (2nd generation) used currently by the members of the Executive Council and their potential replacement. The Committee came to the conclusion that new tablets "iPad Air" should be purchased as soon as possible to replace the current tablets because some have problems and also because the company Apple will no longer support the iPad tablets of 2nd generation in the near future.
Following this meeting, the Finance Committee recommends the following:
Recommendation #1:
Be it resolved that the mandate of the Finance Committee be as follows:
TERMS OF REFERENCE
Composition
The committee shall consist of:
- The 1st National Vice-President, who shall serve as the chairperson
- Two additional national officers, who shall serve as Co-chairpersons
- One member elected by Locals at the Presidents’ Conference
Mandate
The mandate of the committee includes:
- Ongoing review of the UTE’s financial position, financial statements and investments.
- Recommending changes to our by-laws or regulations regarding financial matters.
- Detailing guidelines for expenditures on such specific items as conferences, equipment acquisitions, computers, communications, travel, etc.
- Developing the budget that is presented at each Triennial Convention for approval.
Meetings
The committee shall meet at the call of the chairperson, with the approval of the National President. Meetings shall normally be held twice per year.
For convenience, you will find below the text of the current Terms of Reference of the Finance Committee.
TERMS OF REFERENCE
As befits a union representing workers at Revenue Canada and its successor Agency, the UTE watches its pennies and takes its finances very seriously.
A National Finance Committee, chaired by the UTE Vice-President responsible for Finance, was established in 1996 to oversee all union expenditures. Two additional members of the Executive Council plus a member elected by the Presidents' Conference and the staff Administrative Service Officer round out the committee’s membership.
The mandate of the committee includes:
- Ongoing review of the UTE’s financial position.
- Recommending changes to our by-laws or regulations regarding financial matters.
- Detailing guidelines for expenditures on such specific items as conferences, equipment acquisitions, computer communication, etc.
- Developing the Triennial Convention budget that is presented to the Executive Council for approval.
Despite expanded services, prudent financial administration has kept our union in a sound financial position. This has been achieved through wise investments, as well as using fiscal responsibility when dealing with our expenses.
Recommendation #2:
Be it resolved to amend UTE Regulation No. 13 to include a new section 13.10 Top-up payments for per diem and kilometric rates - PSAC events.
Be it further resolved that the new section 13.10 read as follows:
13.10 Top-up payments for per diems and kilometric rates – PSAC events
Upon request, members of UTE, attending PSAC events, authorized by UTE, shall be entitled to top-up payments. These events include, but are not limited to, PSAC National and Regional Conventions, PSAC NBoD Retreats, PSAC-UTE Collective bargaining meetings.
The reimbursement for per diems will be the difference between the rate paid by the PSAC and the UTE rate as per Regulation No. 13.
If travel by car has been approved, the reimbursement for the kilometric rate will be the difference between the rate per kilometer paid by the PSAC and the UTE rate per kilometer as per Regulation No. 13.
Recommendation #3:
Be it resolved that UTE purchases up to 18 Apple “iPad Air” tablets as soon as possible to replace the current tablets being used because some have problems and also because the company Apple will no longer support the iPad tablets of 2nd generation in the near future.
Recommendation #4:
Be it resolved that the amount of $417,000.00 being budgeted for the year 2016, regarding the holding of the upcoming UTE Health & Safety National Conference, be transferred to the budget of the year 2015 since the said conference will be held in Ottawa from November 6 to 8, 2015.
Respectfully submitted,
Marc Brière
Chair of the Finance Committee