But the responsibilities and obligations of the Secretary-Treasurer’s office go far beyond making deposits and issuing checks.

As Secretary-Treasurer, I have what is called "fiduciary responsibility" to ensure that the Brotherhood's financial resources are handled, recorded and reported with legal, ethical and moral care.

That means myself, my staff and everyone else in the organization who handles accounting or makes spending decisions--the Executive Board, the President, and so on are constantly kept informed.

It is my duty to lead by example and constantly remind all concerned of this obligation, including system divisions and federations and subordinate lodges.

The idea of fiduciary responsibility is important because--while it encompasses such traits as honesty and accuracy--it actually goes far beyond such basic responsibilities.

Yes, there are procedures and checkpoints to guard against theft. But equally important is the idea that the money is spent wisely because money doesn't have to be stolen to be misused.

Wasting dues money on frivolous expenses, or wasting it through sloppy purchasing methods is just as bad--and maybe worse because it demonstrates an indifference to ensuring that the day-in and day-out functioning of the Brotherhood is efficient and well-run.

Similarly, it is just as irresponsible to neglect to properly invest funds as it is to sign a blank check. Sound money management and investment is the key to a secure financial future for the Brotherhood.

Accurate accounting and reporting are two more cornerstones. Factual accounting allows everyone to impartially assess the financial impact of decisions and policies. And timely reporting--including the filing of all federal, state and local documents, as well as the annual statement of the Brotherhood's finances published in the Journal--makes sure that the Brotherhood fulfills its legal obligations while also providing its members with regular and reliable information.

The reason that we all must act in accordance with these high standards of care and deliberation is because we are entrusted with members' money. They have given it to us with the understanding that we will be advancing this organization for the greater good of all the members.

We must safeguard the use of that money and the trust that it represents.

That's a tremendous responsibility, but let me assure you, it is one that neither I nor any officer or staff member ever forgets. It is the principle that guides our actions every day--to ensure that our members get the most and the best we can give.

Reprinted from the July 1995 BMWE Journal.