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Finances: How it can work

Finances: How it can work. 36 th UAW Constitutional Convention (JUNE 2014). First : we would stop using the $25 million annually out of the strike fund for operations. Second: we would continue to use the $60 million for organizing

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Finances: How it can work

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  1. Finances: How it can work

  2. 36th UAW Constitutional Convention (JUNE 2014) • First : we would stop using the $25 million annually out of the strike fund for operations. • Second: we would continue to use the $60 million for organizing • Third: raise dues by ½ hour a month and put the whole amount into the strike and defense fund.

  3. Without and with dues increase • No dues increase and all the cuts we need to do: then at $535 million in 2018 • With dues increase and cuts we need to do: between $700 and $750 million in 2018. • IFWE DON’T HAVE A MAJOR STRIKE.

  4. UAW Strike Fund: with and without dues increase No dues increase With dues increase

  5. So how do we balance our budget? • We spend $40 million more then we take in. • So we have asked the Staff Council and OPEIU to work with us on putting together a VEBA. That’s $20 million dollars annuallysavings. • We will restructure our union by streamlining operations. We are cutting a Vice President, merging Regions 1C and 1D • We are selling property, sub -regional offices, Miller Building , we are looking at every person and organization that we do business with (consultants), temps , interns, trips, etc. Our goal is to cut $10 to $15 million. • Lastly, we are looking at reductions. We believe we can achieve this through retirements. If we can’t, we will have to reduce.

  6. We can do it • $40 million • - $20 million retiree healthcare • __________ • $20 million • - $15 million reduction in expenditures • __________ • $5 million in reductions • By 2018, we should have a balanced budget

  7. We will have no choice • $550 trigger is real . Not taking the $25 million annually is real . • WE ARE FORCED TO DO THE CUTS.

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