| Policy Number | Local 100 001-M-2025 |
| Policy Group | Membership |
| Policy Name | Finance |
| Date of Origin | February 26, 2025 |
| Date Amended | |
| Date Reviewed | Nov 2025 |
Purpose To ensure financial responsibility, the Local shall develop financial policy utilizing the guidelines document for financial policy development.
Scope Members
Policy Statement The Local recognizes the importance of have financial processes in place to ensure safe management of member’s funds.
Procedure
Intent
Local dues are intended for the Local to function, to provide members support in labour relations issues, union education and other activities which support members and communities.
Local Funds shall be used for the work of the union, not to be used for Nursing Education.
It is inappropriate to divide the local funds between the members to disburse the funds
Review
Financial policy and local dues shall be reviewed biannually or as required.
There shall be an annual audit or review of the accounts of the Local’s financials with the report to be presented to the annual meeting of the Local. Audit/Review of the Local’s financials shall be conducted by an arms-length third party.
All financial documents must be kept for 7 years.
Cheque Signing
All cheques must have two signatures, online banking process must have two-person authorization.
Cheques cannot be pre-signed.
No person will sign a cheque that is payable to themselves, nor authorize a request for payment to themselves.
There must be a minimum of three (3) cheque signers which must include the Local Treasurer and President.
No one individual should be able to access funds be it by debit card, online banking, other methods.
Cheques will be written twice a month.
Financial Payments
All payments to members including but not limited to; Honorariums, Stipends, A Set number of hours, Flat amounts, or any type of direct payment is considered taxable income.
All Direct Payments shall be paid through either the SUN Request for Payment process (members must have a TD1 on file at SUN Provincial) or through the employer to comply with Canada Revenue Agency (CRA) rules.
Gifts
If Locals wish to give gifts, for example retirement, etc, CRA rules must be adhered to. Gift cards are not allowed. CRA has very specific rules about giving gifts.
Purchasing an item is a better option for a local, also to be supported by a motion at a local meeting.