CUPE BC remains in a strong financial position having run large surpluses across all funds, reported Secretary-Treasurer Trevor Davies in his annual address to convention Thursday morning. He said this is largely driven by strong investment returns and greater than expected revenue.
Davies, who has served as Secretary-Treasurer since 2015 also told delegates about the critical work CUPE BC’s done to rebuild the defence fund after two major job actions in 2007 and 2014 and outlined his vision for the future of CUPE BC’s finances.
“We’ve been working towards a series of goals for a while. Big goals, and we still have a way to go. I’m happy we had a great year, but we need strong, consistent performance year in and year out if we are going to be a strong, financially independent provincial division,” said Davies.
Davies reported surpluses in all three of CUPE BC’s funds – General, Defence, and the Colleen Jordan Humanity Fund. The surplus combined with strong investment growth improved CUPE BC’s total asset position to over 2 million dollars.
Davies also told delegates about several new initiatives CUPE BC rolled out this past year. The first was the Presidents Academy – a weeklong program designed to support new presidents and the second is the development of an online portal for locals to pay per capita, and access resources.
Davies outlined the importance on having a strong strike fund telling delegates that it is a key pillar of our collective strength, that provides locals with the resources, and resilience to stand up for members rights, and demand fair treatment.
“Having a strong strike fund empowers locals to negotiate from a position of strength. Financial strength, combined with the strength of our members and staff gives us the leverage to reach fair and just agreements. With this we send a clear message to employers - we are united, we are strong, and we will not back down until our demands are met,” said Davies.