Tompkins Cortland Labor Coalition review report on financial statements, 1996 and 1995

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TOMPKINS CORTLAND LABOR COALITION

Ithaca, New York

Review Report on Financial Statements

December 31, 1996 and 1995

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TOMPKINS CORTLAND LABOR COALITION

DECEMBER 31, 1996 and 1995

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Statements of Assets, Liabilities, and Fund Balance - Cash Basis .......... 2

Statements of Support, Revenue, Expenses, and Changes in Fund Balance
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John H. Dietershagen, C.P.A.
John E, Little, C.P.A.

Jerry E. Mickelson, C.P.A.
Thomas K. Van Derzee, C.P.A.
Debbie Conley Jordan, C.P.A.
Patrick S. Jordan, C.P.A.

Frederick J. Ciaschi, C.P.A.
Dennis G. Jones, C.P.A. (1958-1996)

Ciaschi » Dietershagen : Little + Mickelson, LLP :
Certified Public Accountants and Consultants Pi

Board of Directors f
Tompkins Cortland Labor Coalition : ‘
Ithaca, New York

We have reviewed the accompanying statements of assets, liabilities and fund
balance - cash basis of Tompkins Cortland Labor Coalition as of December 31, 1996

and 1995, and the related statements of support, revenue, expenses, and changes
in fund balance - cash basis, and cash flows - cash basis for the years then

ended, in accordance with Statements on Standards for Accounting and Review
Services issued by the American Institute of Certified Public Accountants. All
information included in these financial statements is the representation of the
management of Tompkins Cortland Labor Coalition.

A review consists principally of inquiries of the Coalition’s personnel and Oe
analytical procedures applied to financial data. It is substantially less in &s
scope than an audit in accordance with generally accepted auditing standards, the
objective of which is the expression of an opinion regarding the financial
statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should

be made to the accompanying financial statements in order for them to be in
conformity with the cash basis of accounting, as described in Note 1.

Casdy, Dekshyen, Medellelson UP

September 24, 1997
Ithaca, New York

CORTLAND ITHACA

WATKINS GLEN
18 Tompkins Street Suite 103, 118 Prospect Street

Cortland, New Y ;
Ee EE Ithaca, New York 14850 221 N. Franklin Street

607-272-4444 Watkins eerinewvon 14891

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SECEELLLLLELEEE SS:

Current Assets
Cash

TOMPKINS CORTLAND LABOR COALITION

STATEMENTS OF ASSETS, LIABILITIES, AND FUND BALANCE — CASH BASIS

DECEMBER 31

ASSETS ©

Total Assets

LIABILITIES AND FUND BALANCE

Current Liabilities
Payroll taxes payable

Due to UAW

Total Current Liabilities

Fund balance

Total Liabilities and Fund Balance

1996

$ 29,128

$ 29,128

$ 2,619
2,000

4,619

24,509

$ 29,128

1995
$ 15,700

$ 15,700

$ 2,344
2,000

4,344

11,356

$ 15,700

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SELLE LELELEEE

TOMPKINS CORTLAND LABOR COALITION

FOR THE YEARS ENDED DECEMBER 31,

1996
Support
City of Ithaca $ 12,625
UAW Outreach 14,800
New York State Department of Labor 99,565
Syracuse Health Center 14,637
Donations hee:
Total Support __ 142,569.
Revenue
Membership dues 6,267
Newspaper and advertisements 4,973
Consulting and other =O
Interest income 88
Total Revenue 11,328
Total Support and Revenue 153,897
Expenses
Payroll 86,213
Payroll taxes 7,395
Insurance 11,525
Rent 8,424
Printing 5,597
Phone 3,455
Supplies 2,408
Postage 2,226
Contract services 6,186
Equipment 1,908
Travel and meetings 1,156
Entertainment 201
Professional services 700
C.I.V.I.T.A.S. 214
Educational materials 706
Seminar 45
Dues 170
Donations 190
Other 2,005
Total Expenses 140,744.
EXCESS OF SUPPORT AND REVENUE (EXPENSES) 13,153
Fund balance, January 1, 11,356
Fund balance, December 31 ; $ 24,509

See Accountants’ Review Report and Notes to Financial Statements

STATEMENTS OF SUPPORT, REVENUE, EXPENSES, AND CHANGES IN FUND BALANCE — CASH BASIS

1995
7,500
27,114
74,267
5,374
3,297

117,552

9,329
2,190
911

12,475

130,027

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TOMPKINS CORTLAND LABOR COALITION
STATEMENTS OF CASH FLOWS — CASH BASIS
FOR THE YEARS ENDED DECEMBER 31,

Cash Flows from Operating Activities:
Excess of support and revenue (expenses)
Adjustments to reconcile excess of support and
revenue (expenses) to net cash provided
by operating activities:
Increase in payroll taxes payable
Net Cash Provided by Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
NET INCREASE IN CASH

Cash balance, January 1,

Cash balance, December 31,

See Accountants’ Review Report and Notes to Financial Statements

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TOMPKINS CORTLAND LABOR COALITION
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1996 and 1995

Note 1 - Summary of Significant Accounting Policies

Activity
The Labor Coalition is organized as an unincorporated association
and operated as a not-for-profit organization to assist local member

unions through educational and informational programs. Membership in
the Coalition is open to all interested organizations and persons.

Cash Equivalents

For purposes of the statements of cash flows, the Coalition
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, 1996 and 1995.

Grants

The Labor Coalition receives its primary support from the New York
State Department of Labor and the City of Ithaca.

Method of Accounting

The Labor Coalition’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.

Use of Estimates

The preparation 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.

Tax Exemption

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

Related Party Transactions

The Coalition leases office space under an operating lease from a
member, the UAW Local 2300, for $400 per month. For the years ended
December 31, 1996 and 1995, the Coalition paid $7,200 and $4,825,
respectively, which included additional rent charged for the Coalition

II Grant. In addition, the UAW loaned the Coalition $3,000 of which
$1,000 was repaid during 1995.