Please see an update below regarding the financial affairs of the Component.
Banking and Investments
GIC Holdings:
- $1,400,000.00, earning 4.80%, matured on February 28, 2026
- $1,100,000.00, earning 2.85%, maturing September 19, 2026
We currently maintain a balance exceeding $7 million in our day-to-day bank account, which earns an interest rate of 2.50%
Statement of Operation
2025-2026 Year end (Q1)
Please see the below Unaudited Statement of Q1 2025-2025, covering the period between July 1, 2025 to September 30, 2025
Strike Pay
During this quarter, the membership was on strike for 3.5 days. CUPE National advanced $3,409,350 to cover one full week of strike pay for all five locals. As the strike lasted 3.5 days, the remaining funds must be returned to CUPE National along with the final strike reports.
Here is the current status:
- Local 4091: Completed – reports filed and remaining funds returned
- Local 4092: In progress
- Local 4094: In progress
- Local 4095: In progress
- Local 4098: Completed – reports filed and remaining funds returned
Clarification – Toronto Local 4092 Strike Pay
Further to the previous bulletin regarding a strike pay banking issue affecting members of Toronto Local 4092, we would like to provide an important clarification.
We have since confirmed that the situation was the result of a banking error and was not caused by the Local 4092 Secretary-Treasurer or the Local’s administration.
We regret any confusion the earlier communication may have created and appreciate everyone’s patience while this matter was reviewed and clarified.
Highest Earner report Q1 – 2025-2026
July 2025 – $11,974.67
August 2025 – $12,458.67
September 2025 – $11,622.00
Audits
Our fiscal year ended on June 30, 2025. The external audit for the 2024–2025 fiscal year is currently underway.
Our Component Trustees will be conducting the audit of the 2019–2020 fiscal year this spring.
In solidarity,
Guillaume Leduc
Secretary-Treasurer, Air Canada Component of CUPE