February 7, 2015

Dear Union Member:

I am pleased to report the Union is in sound financial condition with a net annual cash surplus of $11,547 for the fiscal year ending August 31, 2014.

I am also pleased to report that the dues rate of 0.85% for those making more than $60,000 per year and 1.00 % for those making less than $60,000 per year will remain as is through the fiscal year ending August 31, 2015.

I am also pleased to report that the union received a refund of $25,424 from AFT/NYSUT for overpayment of dues for fiscal year ending August 31, 2014.

I anticipate an end of year, net annual cash surplus of $30,483 for fiscal year September 1, 2014 – August 31, 2015, a net gain of $18,936.

Please see the attached Financial Statement and Budget, here.

In Solidarity,

Dennis Masback

Treasurer