Last updated on July 3rd, 2025Unions, like any other organization, are subject to financial recordkeeping requirements. The Labor-Management Reporting and Disclosure Act (LMRDA) provides specific guidelines for unions in regard to financial records and retention requirements, with the purpose of ensuring transparency and promoting democratic practices within labor organizations. According

Last updated on June 16th, 2025As unions perform their primary function of supporting and advocating for union members, various financial processes are taking place behind the scenes every day. These financial processes include collecting and processing member dues, creating budgets, authorizing and tracking expenses, maintaining financial records, preparing financial reports,

Last updated on May 5th, 2025Labor Unions operate within a unique regulatory environment, and as such, must constantly monitor compliance in their financial processes. Compliance within labor unions is essential for maintaining the union’s financial and reputational integrity, as well as protecting the rights of both workers and employers. Compliance

Do you or your employees use union vehicles for reasons other than work? If yes, you need to be aware of the taxation rules for the personal use of company cars. What is “personal use of a company vehicle/car”? Personal use of a company car (PUCC) encompasses any use of

Internal controls are mechanisms that help to ensure an organization’s financial integrity. Unions rely on these internal controls to minimize financial risk, prevent fraud, and maintain the accuracy of financial records. It is crucial that these processes are regularly assessed in order to maintain their effectiveness. What are Internal Controls?

Last updated on February 7th, 2025Why Should You Prepare a Budget? Budgeting is a critical component of any organization. The American Federation of Government Employees discusses several reasons why preparing a detailed budget for your union is important: A well-formed budget helps to ensure the financial health and security of

Last updated on September 27th, 2024In the ever-evolving business landscape, local unions are increasingly recognizing the need for strategic financial management. One potential solution that’s gaining significant traction is outsourced accounting. Access to expertise is the most appealing advantage of outsourcing accounting. Accounting firms are equipped with seasoned professionals who

The Labor-Management Reporting and Disclosure Act (LMRDA) contains recordkeeping requirements for financial records that clarify or verify reports filed with the Office of Labor-Management Standards (OLMS). A union’s treasurer and president (or other corresponding principal officers) are responsible for ensuring their union meets these recordkeeping requirements. After a report is