Please see an update below regarding the financial affairs of the Component.
Banking and Investments
As of February 29, 2024 we have:
Meridian Bank :
- $1,252,814 @ 3.45% Maturing on May 6, 2024
Desjardins Credit Union :
- $3,300,000 @ 5.75% Maturing on August 24, 2024
- $1,100,000 @ 5.75% Maturing on September 19, 2025
- $1,400,000 @ 4.80% Maturing on February 26, 2026
We also have a balance of approximately $1,100,000 in our savings account, earning 5% interest.
Statement of Operation
Q2 2023 (October 2023 – December 2023)
Please see below the Unaudited Statement of Operation for the 2nd quarter of 2023-2024, covering the period between October 1, 2023 to December 31, 2023.
Highest Earner report Q1:
Oct. 2023 – $14,154.67
Nov. 2023 – $9,462.00
Dec. 2023 – $10,950.00
Audits
Our three Component Trustees have completed the 2021-2022 audit. We had requested that our trustees conduct a 2021-2022 trustee audit to facilitate ACCEX in receiving funds from CUPE National for a cost-sharing campaign. Subsequently, for the upcoming audit, we will resume auditing chronologically, commencing with the fiscal year of 2018. The trustee report for the 2021-2022 audit is available on the Component website.
Happy flying,
Guillaume Leduc
Secretary-Treasurer, Air Canada Component of CUPE