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

Last updated on July 29th, 2024There are a lot of responsibilities that must be addressed as part of a union officer election. An important activity to keep on your radar is helping newly elected officers transition into their positions; this is especially important when there’s a newly elected treasurer. Given

Last updated on July 3rd, 2024In the interest of transparency and accountability, there are stringent laws governing the use of credit cards and expense accounts for unions. These laws are intended to safeguard the funds of union members and ensure that all expenditures are in line with the interests of

Last updated on June 13th, 2024With growing frequency, cybercriminals are targeting unions, prompting a greater need for cybersecurity awareness, training, and protocols at all levels. Last year, the Boston Pipefitters Union saw $6.4 million stolen from its health fund. In November, the Allied Pilots Association was the victim of a

With more Americans than ever supporting unions and more employees expressing interest in joining one, it’s a prime time to explore the best ways to attract the next generation of workers to grow union membership. After all, increasing membership leads to stronger unions, stable finances, and greater collective bargaining power.