Provincial Treasurer’s Report: “We Are Building a Stronger Union For All Those We Serve and All Those Who Follow”
BCNU Provincial Treasurer Sharon Sponton delivered a positive report on the union’s finances on day one of the union’s annual convention.
Reporting on the organization’s current financial standing, Sponton told delegates that 2023 revenues increased over 2022, mainly due to the sizable base wage increases secured in the last round of provincial bargaining.
She also guided delegates through the union’s cash position, noting there is sufficient funding for daily operations and that the union is in a strong financial position.
Sponton reported that end-of-2023 surpluses are allocated to four funds, including the defence fund, bargaining fund, BCNU infrastructure fund, and the Student Nurse Education Bursary fund.
Sponton went on to illustrate some of the work completed by BCNU’s finance department before updating members on payments made to those eligible from the union’s new LPN to RN/RPN laddering fund.
“In 2023, BCNU’s finance staff processed more claims and payments than last year. Over 20,000 salary reimbursement days were claimed and nearly 11,000 salary reimbursement forms were completed. The team handled over 11,900 payments as well as nearly 1,800 payments for the Retiree Benefit Program,” she highlighted.
“And that’s not all. As of last week, over 1,400 applications for the LPN to RN/RPN laddering fund have been received with 1,098 processed. I’m pleased to share that nearly $1.2 million has been paid to members from this fund.”
Sponton reminded delegates about the union’s new member expense dashboard on the member portal to help expedite reimbursement. The new tool creates more visibility at each stage of the reimbursement process, features “withdrawal flexibility” for items not yet reviewed, and it delivers timely reminders throughout the month to help members stay on schedule, she noted.
“To help with regional budget management, you can now submit multiple expenses on one form, streamlining efficiencies,” she explained. “This was created to empower you to focus on core responsibilities with greater efficiency.”
Sponton also reported on the new finance training available online for union leaders and representatives. The new education module, Finance Training for BCNU Leaders and Union Representatives, is an asynchronous online module that can be taken at any time. The module offers key information on the union’s financial policies and processes such as salary reimbursement, union leave and various member expense policies.
She wrapped up her report with a heartfelt thank-you to members. “I extend my gratitude for each of you here today. It’s through your dedication and commitment that we can forge ahead,” she said. “Your support and participation are the cornerstones of our success. Shoulder to shoulder, we are building a stronger union for all those we serve and all those who follow.”