Running a Tight Ship
Volume CVII, No. 11November, 2007
I have now been here for over a year and have been through the cycle of handling all the financial issues of Local 802.
When you first come to a new atmosphere you see what is going on and what needs change.
Now, after being here a year, some small changes have taken place.
For instance, the Finance and Membership departments have seen some better controls. We have also instituted some training in Excel to enhance our department’s skills.
As far as the financial health of Local 802, the first six months of 2007 have resulted in over $600,000 in income. More income has come in than expected.
The expense side has been very tight to budget and is pretty much on track.
However, legal expenses were considerably more than budget, due to the change in union representation.
The next six months, according to budget, are pretty much projected to be break even.
The income has been favorable and we hope it continues to be greater than budget.
However the expense side is growing and we hope will be contained to the budgeted numbers.
The budgeted payroll positions have all been filled except for a programmer for the Computer Department.
The forecast will still be optimistic for the next six months
The officers and I are presently working on the 2008 budget. Although not completed, it also appears as if it will break even.
Once again there are challenges to be met.
The filling of positions in 2007 and a higher payroll than 2006 has increased our payroll and benefits for 2008 considerably.
The issue of medical benefits and what exactly they will be is still an unresolved issue.
This is an issue all employers are now facing: the increased cost of medical benefits, what Local 802 can afford to absorb and what the cost to employees will be.
The change in our administration for 2007, including the election of President Mary Landolfi and our new board, has gone smoothly. The financial issues are being addressed and we are working to continue to meet the needs of Local 802.
When this story appeared in Allegro, it incorrectly asserted that all budgeted payroll positions have been filled. This error was introduced by double-counting Joel LeFevre as both a recording representative and organizing director, a position to which he has recently been promoted, and by omitting an open position in the recording department. The main point of the article, that our budget will tighten as positions become filled on a full-year basis, is accurate.