An Overview of our Budget

1. Our income for the calendar year 2006-07 is $38,180.
2. Out of this approximately $2500 will be deducted for those individual who will “out”.
3. Our cash in the bank as of late March 2007 is
1. A CD in Altura Credit Union: $42,000.00
2. UBS Mutual Fund Account: approximately $42,000.00
3. Regular checking account: $82,966.00

TOTAL CASH BALANCE: $145,576.00

We had never filed taxes before Dariush had become treasurer. We were not registered with the IRS under our name. They had an old document on us still under Riverside City College filed under Della Condon’s presidency.

Our tax D was updated and we are now tax exempt.

All of our financial papers are now current and all of our papers are filed with IRS as well as with the state CTA.

Dariush has submitted a copy of all those to our executive board and is providing another copy for our files in the office.

Our total expenses for the 2004/2005 calendar year were $5922.00.

Our total expenses for the 2005/2996 calendar year were $11,800.00

Projected expenses for the 2006/2007 year will be approximately $16,000.00.

We have voted to transfer 10% of our annual income to our Political Action Account. For the 2006/2007 academic year that amount will be $3818.00.

As an agency fee chapter we have two approved categories for expenditures:

1. office expenses
2. wages and benefits
3. negotiations
4. grievance processing
5. governance
6. chargeable officer release time
7. conferences/workshops relating primary to representations obligations
8. chargeable communications
9. legal expenses relative to representational obligations
10. social activities
11. chargeable contributions to university unit or other joint fund
12. other expenses relating to representational obligations

Non-chargeable expenses:

1. Political Activities and Contributions
2. non chargeable support wages and benefits
3. legislative and initiative activities
4. member recruitment/members only programs
5. public relations designed to enhance teacher image generally
6. charitable contributions and scholarships
7. non chargeable communications
8. non chargeable contributions to university unit or other joint found
9. non chargeable office release time
10. other expenses not relating to representational obligations

Most of our expenses approximately 80% must be in chargeable expenses.

Almost all of our expenses have been in food, conferences (hotel, registration, some transportation) office supplies, mileage, salary for our office worker, elections materials, postage and tax preparation fee.

Most of these fall in to three major categories:

a. governance

b . conferences/workshops relating primarily to representational obligations

c. legal expenses relating to representational obligations

So fall all 100% of our expenses during the last two years have been in chargeable expenses.