The Secretary-Treasurer's office handles the
money. True enough. That's the short-hand answer and basic response most members would
give if asked about this office.
But the responsibilities and obligations of the Secretary-Treasurer's office go far
beyond making deposits and issuing checks.
As Secretary-Treasurer, I have what is called "fiduciary responsibility" to
ensure that the Brotherhood's financial resources are handled, recorded and reported with
legal, ethical and moral care.
That means myself, my staff and everyone else in the organization who handles
accounting or makes spending decisions--the Executive Board, the President, and so on are
constantly kept informed.
It is my duty to lead by example and constantly remind all concerned of this
obligation, including system divisions and federations and subordinate lodges.
The idea of fiduciary responsibility is important because--while it encompasses such
traits as honesty and accuracy--it actually goes far beyond such basic responsibilities.
Yes, there are procedures and checkpoints to guard against theft. But equally important
is the idea that the money is spent wisely because money doesn't have to be stolen to be
misused.
Wasting dues money on frivolous expenses, or wasting it through sloppy purchasing
methods is just as bad--and maybe worse because it demonstrates an indifference to
ensuring that the day-in and day-out functioning of the Brotherhood is efficient and
well-run.
Similarly, it is just as irresponsible to neglect to properly invest funds as it is to
sign a blank check. Sound money management and investment is the key to a secure financial
future for the Brotherhood.
Accurate accounting and reporting are two more cornerstones. Factual accounting allows
everyone to impartially assess the financial impact of decisions and policies. And timely
reporting--including the filing of all federal, state and local documents, as well as the
annual statement of the Brotherhood's finances published in the Journal--makes
sure that the Brotherhood fulfills its legal obligations while also providing its members
with regular and reliable information.
The reason that we all must act in accordance with these high standards of care and
deliberation is because we are entrusted with members' money. They have given it to
us with the understanding that we will be advancing this organization for the greater good
of all the members.
We must safeguard the use of that money and the trust that it represents.
That's a tremendous responsibility, but let me assure you, it is one that neither I nor
any officer or staff member ever forgets. It is the principle that guides our actions
every day--to ensure that our members get the most and the best we can give.
Reprinted from the June 1997 BMWE Journal. |