days until our Collective Agreement expires, we are preparing, we are united and we will make change.

Secretary Treasurer Q2 Report – February 2024

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

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