Midstate Central Labor Council financial report, 1998 and 1997

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MID-STATE CENTRAL LABOR COUNCIL
Ithaca, New York
Financial Report

For the Years Ended
December 31, 1998 and 1997

Ciaschi - Dietershagen = Little» Mickelson, LLP

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Certified Public Accountants and Consultants

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MID-STATE CENTRAL LABOR COUNCIL

Ithaca, New York

Financial Report
For the Years Ended
December 31, 1998 and 1997

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MID-STATE CENTRAL LABOR COUNCIL

DECEMBER 31, 1998 and 1997
IY UG IS

Independent Auditors’ Report

TRON Hse ene eawereteanaesecenrey
Be SSO Sra Or Tc Sorter rem UHL skeen ens ene

Statements of Assets, Liabilities, and Net Assets - Cash Basis

A Neen ee ene a we eeserenetnsueeaen ee Petnsusaeueserasss sens

Statements of Support, Revenue, Expenses, and Changes in Net Assets - Cash Basis

Statements of Cash Flows - Cash Basis

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BEREEOO OOS OS COC UCKTSIO DS UGOUSUIRCET OCCHOSCGenooSaOSceoon

Notes to Financial Statements

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PENRO ROY U Rem een veseseseteesenuressconsunctex

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We Tawe audited the accompanying Statements of assets hebiiti|es ond met assets - cash Sess of te We See
Central Lebor Council es of December 31, S358, and the velsied Stiemects of sarmot revenue, expenses, and
CHESS Mm Net assess - cash Sess, soc cosh Jes - cash Sess tr te veer fer ences These finemoia) Statements
ae he respomstiity of he Coourci’s meregemest Our resmossiity & D eeess a coin on ese rcs
Semen beset on cor ace

We COndUCISS Our Sut in Sccorance wih genersly Sccsstes auditing StarGarcs. TROSS Sirtircs vequite Pat we
Der Soon the audit m otter sesonabis assuretes stout wheter: fhe Gnantie Sistemas ae fee of mater
TISSEISTIN Ap auch MOLGES SSGMINNS, O7 2 HE CESS, EYEE SuOHOTTE Te ETM ane GSK FO
by managament, as wel as evening Ge overall francki ated gecnaiadinan was Antborn tal Ser aut groitines&

Teasonebie bests for cur onrmon.

As described in Note 7, these france! sistements were orenared on he Cash tesS whch © & Comp whenske Ress oF

in our opinion, the financall sistements refeved b shove presect ery. im Sil TERN TESS, Te ase lenites
and met assets of the Mid- State Central Letor Council es of Decemibe: camer 34, TS98, end Es SuNMoR Rens, Seranses,
and changes in net assets for he year Den ences, on the bass of accounting Gesombed in Newe 1.

statements were Teviewed Sy US, SNS Our Tent There, GENS Luly SO SSS, SERIES ee TS AT
famearase modmicaions tret Should be made tose sutements briten Re ih Sonkaray wih The Rass
However, 6 Teview is substantially ess in soone than Sn Suck aN Ges INE DRwWwee

te frence! Setemerts ie S&S 2 woe.

The 1927
ae Oh amy
of accounting described in Note 1.

Crasde. Deeks <2, Uve- Wide vr

February 25, 1939
lthaca, New York

WATAINSGLIEN |
CORTLAND ATRENS GLEN

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MID-STATE CENTRAL LABOR COUNCIL

STATEMENTS OF ASSETS, LIABILITIES, AND NET ASSETS - CASH BASIS

DECEMBER 31,
ASSETS
General Health & Cortland Area 1998 1997 .
Fund Safety Fund Workers Rights Total Restated
Current Assets
Cash Checking $ 2,138 $ 150 $ 442 $ 2,730. $ 9,028 P
Total Assets $2,138 § 150 $ 442 $2,730 $ 9,028
LIABILITIES AND NET ASSETS
Current Liabilities
Due to (from) other funds $ (4,020) $ 4,020 $ -0- $ -0-  $ -0-

Total Current Liabilities (4,020) 4,020 -0- -0- -0-
Unrestricted net assets 6,158 -0- 442 6,600 9,587 |
Restricted net assets == 3,870 -0- 3,870 559 i

Total Net Assets 6,158 3,870 442 2,730, __-9,028
Total Liabilities and Net Assets $e 211380 o ee OO RES 442, $__ 2,730 $__— 9,028

Mind? sPipatee
Ate
aye

See Independent Auditors' Report and Notes to Financial Statements

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STATEMENTS OF SUPPORT,

Support
City of Ithaca
UAW Outreach

New York State Department of Labor
Unrestricted Donations

Total Support

Revenue
Membership dues
Newspaper and advertisements
Rent
Consulting and other
Interest income
Total Revenue

Total Support and Revenue

Expenses
Payroll
Payroll taxes
Insurance
Rent
Printing
Phone
Supplies
Postage
Contract services
Equipment
Travel and meetings
Entertainment
Professional services
C.LV.I.T.A.S.
Educational materials
Seminar
Dues
Donations
Other

Total Expenses

EXCESS OF (EXPENSES) OVER
SUPPORT AND REVENUE

Transfers

Net Assets, January 1,

Net Assets, December 31,

MID-STATE CENTRAL LABOR COUNCIL

REVENUE, EXPENSES, AND CHANGES IN NET ASSETS - CASH BASIS
FOR THE YEARS ENDED DECEMBER 34,

General
Fund

Health &
Safety Fund

Cortland Area
Workers Rights

1998
Total

1997
_Restated_

10,000 $

10,000 $
11,821

11,821

104,681

3,394
129,896 _

13,375
17,316
24,369

1,978

57,038

104,681
1,424

23,245

1,970

1,970

104,681

7,424

7,424
eos
6,400

7,507

2,39

137
100
446

1,87

766
4,867

35,451

__ 107,992

109

6,879 85,243

(278) (3,311) (2,709)

(18,100)

(1,750) -0-

1,750
559

8,186 401

$ 6158 $

442 §$

See Independent Auditors’ Report and Notes to Financial Statements

Sole

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MID-STATE CENTRAL LABOR COUNCIL

STATEMENTS OF C

ASH FLOWS - CASH BASIS

ee Health & Cortland Area 1998 1997
—fFund__ Safety 9 Restated
Cash Flows from Operating Activities: ety Fund HEROS IN shite —total_ _Restated_

Excess of (expenses) over support

and revenue (278) $ (3,311) $ (2,709) $ (6,298) $ (18,100)
Adjustments to reconcile excess of

(expenses) over support and revenue
to net cash (used) by operating activities:
Transfers (1,750)

Increase (decrease) in liabilities:

Due to other funds (1,330) 1,330
Due to UAW Local 2300 -0- -0-

(2,000)

Net Cash (Used) by Operating Activities (1,981) (20,100)

Cash Flows from Investing Activities
Cash Flows from Financing Activities

NET DECREASE IN CASH (3,358) (1,981) (6,298) (20,100)
Cash balance, January 1, 51496 eee 2 (1 i eee | 40 ee O O28 een 205 26

Cash balance, December 31, 2,138 Sip aars eo SOLED rates a 442 $__2,730_ $___9,028

Independent Auditors’ Report and Notes to Financial Statements
See In

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MID-STATE CENTRAL LABOR COUNCIL

NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1998 and 1997

Note 1 - Summary of Significant Accounting Policies
Activity

The Labor Council is an affiliated and charte

eu red union with the American Federation of Labor and Congress
of Industrial Organizations (AFL-CIO

). The Labor Council is organized as an unincorporated association and

operated as a not-for-profit organization to support local member unions through educational and informational

programs. Membership in the Labor Council is open to affiliated local unions, councils, joint boards, district
councils, and other organizations supporting the goals of the Labor Council.

Basis of Accounting

The Labor Council's policy is to prepare its financial statements on the cash basis of accounting;
consequently, revenues are recognized when received rather than when earned, and expenses are
recognized when cash is disbursed rather than when the obligation is incurred.

Fund Accounting

To ensure observance of limitations and restrictions placed on the use of resources available to the Labor
Council, the accounts of the Council are maintained in accordance with the principles of fund accounting. That

is the procedure by which resources for various purposes are classified for accounting and reporting purposes

into funds established according to their nature and purposes. Separate accounts are maintained for each
fund.

The assets, liabilities, and net assets of the Council are reported in three self-balancing fund groups as
follows:

The General Fund, also known as the Operating Fund, represents the portion of expendable funds that are
available for support of the various unions.

The Health & Safety Fund accounts for the New York State Department of Labor Grant.

The Cortland Area Workers Rights Fund is a spin-off organization supporting union workers in Cortland
County.

stimates : rae ' ee
a he eer of financial statements in conformity with generally accepted accounting principles requires

management to make estimates and assumptions that affect certain reported amounts and disclosures.
Accordingly, actual results could differ from those estimates.

Sal ats of the Statements of Cash Flows, the Labor Council considers all short-term instruments

purchased with a maturity of three months or less to be cash equivalents. There were no cash equivalents at
December 31, 1998 and 1997.

Te Oral is exempt from income taxes under Section 501 (c)(5) of the Internal Revenue Code.

This text was generated automatically from the photograph and has not been corrected. The image is the authoritative record.

MID-STATE CENTRAL LABOR COUNCIL
NOTES TO FINANCIAL STATEMENTS

(CONTINUED)
DECEMBER 31, 1998 and 1997

Note 2 - Related Party Transactions

; The Labor Council leases office space under an operating lease from a member, the UAW Local 2300, for

387.50 per month. The Council receives $ 137.50 per month from the AFL-CIO for use of a portion of the
space.

The Labor Council also shares a copier, copier supplies, a postage meter, a fax telephone line, a drinking
fountain and bookkeeping services. The Council shares the cost of some of these expenses with the UAW and
the Council receives donated services/supplies for some of these items.

Note 3 - Subsequent Events

The Labor Council was placed into trusteeship by the President of the AFL-CIO on January 27, 1999. The
Council is currently being managed by the appointed Trustee, Roger Clayman, AFL-CIO Field Representative.

Note 4 - 1997 Restated Financial Statements

The 1997 Financial Statements have been restated to include the Cortland Area Workers Rights Board and
the payroll tax liabilities have been eliminated to reflect the cash basis of accounting.

Note 5 - Concentrations

The Labor Council receives its primary support from the New York State Department of Labor and the City of
Ithaca. The Department of Labor has conducted an annual audit of their contract with the Council.