The BMWE is pleased to present to you in this issue of the JOURNAL
our union's annual condensed financial report. The annual report is a
critical way for the BMWE to keep you informed on how your union dues
have been spent over the past year on vital services.
As Secretary-Treasurer, I take very seriously the responsibility of
bringing the annual financial report to you each year. After all, you
have entrusted the office and me with the awesome task of making sure
that your hard earned money is spent and invested in ways that further
the BMWE's mission and goals.
We all from time to time gloss over the technical details of
financial documents and reports. They seem difficult or too cumbersome
to read and understand. But if you consider the importance of BMWE
funds, you may view this annual reporting process through a different
lens. Because the financial capability of the BMWE, combined with the
strength and resolve of our members, translates into power, it is
crucial that we maximize the power of our members' money.
Without carefully managed finances, the BMWE would not have the
resources to educate our members on safety and health concerns, rail
and labor legislation pending in Congress, collective bargaining
developments, or why the outcome of legislative debates and elections
matter to BMWE members and their families.
The finances of this union make it possible for the BMWE at every
level to constantly speak out against hostile proposals that would
harm BMWE members. And without adequate finances we would fall short
in ensuring that the BMWE and the entire labor movement have the best
representation possible. We all know that the big railroads have the
money -- and they spend it by the millions!
According to Webster's Dictionary, a Secretary is the person who is
in charge of keeping the records of an organization. A Treasurer is
the person in charge of the funds of an organization. As your
Secretary-Treasurer, I am the person in charge of keeping an accurate
record of the funds of our organization. But I also have what is
called "fiduciary responsibility." In other words, I am
committed to not only ensuring that there is an accurate record of
BMWE's financial resources, but also to making sure that these funds
are handled with great ethical and moral care.
Fiduciary responsibility means that I need to help guide decisions
about spending and investing money wisely. Sound purchases and
investments translate into an efficient and effective union. With so
much to accomplish for our members, we must remain vigilant in our
efforts to make the right choices that will guarantee the financial
security of our union today and in the future.
Remaining vigilant means that the BMWE will not tolerate wasting
money on items we don't need or wasting it through careless purchasing
methods or decisions. As you will see from the annual report, we take
every purchasing decision to heart and make it with your best
interests in mind.
The entire office of the Secretary-Treasurer understands that we
must lead by example. If we are to expect our systems and subordinate
lodges to take handling their finances seriously, then we must pursue
every means at our disposal to raise the bar on the way we manage our
finances. We can expect no less if we're serious about running the
most effective rail labor organization.
All BMWE money must be spent wisely and that includes having
systems in place for accurate reporting and accounting. Factual
accounting and timely reporting gives you and your fellow BMWE members
the opportunity to see first hand the financial impact of BMWE
decisions and policies. Through the annual report and other federal,
state and local documents the BMWE is required to file, you can
achieve a greater understanding of how your dues are being managed.
As Secretary-Treasurer, I want to personally thank you on behalf of
all of the Grand Lodge Officers, appointees and employees for the
faith and trust you have placed in us as we make daily financial
decisions with your union dues. It's a trust that we value and
treasure - and you have my word that it is a trust that we do not and
will not squander. |