L-3 Financial Statements – Fund Accounting

Whereas PIPSC currently has an operating fund, strike fund and bargaining fund combined in one financial statement and a separate building fund statement; and

Whereas it is difficult for the ordinary member to gain an overall understanding of PIPSC’s financial position and the position of the individual funds; and

Whereas it is possible that the building will incur a loss of $2 million this year; and

Whereas it is important that members be able to easily gain an understanding of the true financial picture of PIPSC;

Be it resolved that the PIPSC financial statements show the operating fund, strike fund, bargaining fund and building fund separately and show a consolidated total.