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Financing The Union

Coins falling in to a pile

The NASUWT manages its finances in an open and transparent manner in accordance with the Trade Union and Labour Relations (Consolidation) Act 1992, the legislation by which trade unions must operate. The legislation requires that the Union’s finances are audited annually by an independent auditor and submitted to the Certification Officer.

 



Management of local finances

The management of the local finances within the Local Association is the responsibility of the locally elected Officer group. The elected officers are responsible for devising an activity led budget which has been approved by the members of the Local Association via the democratic process. As a part of the Officer group, the local treasurer has a vital role to play in the strategic development and monitoring of the budget, and making reports to members on the financial health of the local association.

One of the key roles of the treasurer is to ensure that members are reimbursed promptly and properly for any expenditure they incur whilst carrying out Union activities. It is also essential for them to ensure that there are sufficient funds in the Local Association bank account to meet these payments. In order to do this, the Treasurer will need to submit an Imprest Claim Form to restore the working capital at regular intervals. All items of income and expenditure should be declared on the appropriate Imprest claim form, including bank interest and charges and also any Direct Debits or Standing Orders.

 

 



Financial Statements

Elected representatives of Local Associations attending Annual Conference receive a copy of the Union’s Financial Statements. The Honorary Treasurer presents the Financial Statements to a Private Session of Annual Conference and responds to any questions that have been submitted. 

NASUWT members can request a free copy of the most recent financial statement from the Union’s headquarters by e-mailing finance@mail.nasuwt.org.uk or telephoning 0121 453 6150. 

The NASUWT audited financial returns can be found on the Certification Officer’s website