Financial Management Seminar

Welcoming Remarks & Program Overview

Reading Financial Statements

Accounting Methods

Audits

Internal Controls

Records Management & Retention

Reporting Requirements

DOL/IRS Audits: Why You’re Picked and What to Expect

Union Policies: Do You Have Them All?

Reviewing Your LM Reports: Key Elements and Common Errors

Reviewing Your Form 990/990-T: Key Elements and Common Errors

Lunch (11:45 AM)

Payroll and Lost Time Issues: Questions You Should Be Asking

Preventing and Detecting Fraud

Travel, Per Diem and Reimbursements: Are You Doing It Correctly?

LiUNA Pension

Member Labels or Mailing Lists

Member Dues Payment History Reports

Double Dues Refunds

Reciprocal Agreements

Data Management, Storage and e-Security

Constitutional obligations regarding union finances

Legal Rules related to union finances, LMRDA

Fiduciary Standards

 - Proper expenditure of union funds

 - DOL guidelines and VCP Program

IRS Closing agreement

Bonding – Discovery & Other Insurance Coverage

Financial Planning

Revenue Streams

 - Regular & Associate Dues

     - Direct Dues Payments

 - Revenue Sharing

 - Other Cash Receipts

MHBP Partial Reimbursement

PAC Collections & Remittance of Funds

Lunch 11:45 PM

Accounting Basics

 - Cash Receipts

 - Recording Cash Transactions

National Associate Billing Program

 - Refunds, Adjustments and Returned Checks

Mail Handlers Membership

 - DCO Report

Cash Disbursements

 - Vendors - Vendor files, documentation & Reporting

Payroll – Set-up & Processing

 - Personnel files 

 - Taxable vs Non-Taxable Wages

 - Payroll Taxes & Reporting

 - Payroll Withholding & Liabilities

Question and Answer Session