Fulfilling a Treasurer's Responsibilities

Elizabeth Powell

November 15, 2023

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There are several important responsibilities that local and state treasurers will need to familiarize themselves with and fulfill. Whether you are newly elected, appointed, or have maintained the treasurer’s position for a length of time, maintaining fiduciary responsibilities is of the utmost importance. After ensuring local and state finances are being maintained with appropriate “checks and balances” and financial controls are in place, a treasurer should verify that the local or state follows all legal requirements.

Department of Labor Legal Requirements

  1. Local and State affiliates are required to have a constitution and bylaws and a copy must be electronically filed with the annual LM report to the Department of Labor.
  2. Local and state affiliates are required to have a fidelity bond covering 10 percent of the local or state’s liquid assets. (We strongly recommend local and state affiliates bond 100 percent of the liquid assets.)
  3. Local elections are required to be held every three years and state affiliates every four years. (The constitution may require elections be held more frequently.)
  4. The Department of Labor requires an LM report (LM 2, LM 3, or LM 4) to be filed annually.
  5. Treasurers are required to maintain financial records for the last five years.
  6. They must also maintain executive board and general membership meeting minutes.

Internal Revenue Service (IRS)

In addition to local or state payroll requirements:

  1. I-9 (for all employees).
    • Filing W-2, W-3, and W-4s.
    • Electronically filing form 940 (Payroll Taxes Deposited).
    • Collect and deposit state and municipal or county taxes.
    • Electronically filing form 940 (federal unemployment tax deposited).
    • 1099 issued for non-employee compensation.
    • W-9 ( Tax ID for independent contractors).
  2. The IRS requires an annual 990 Report (990, 990- EZ, 990-N) electronically filed with the IRS.

Other Legal Requirements

To ensure local or state affiliates are complying with Article 16, section 4 of the constitution and bylaws of the APWU as amended, a copy of the following is required to be forward to the Secretary-Treasurer’s department:

  • A copy of your local or state constitution.
  • A copy of your local or state signed annual LM report that was filed with the Department of Labor.
  • Written verification that your local or state filed an annual 990 report with the IRS.
  • A listing of local or state officers and verification that the local or state has held elections in accordance with the union’s constitution.

Treasurers should contact Annette August-Taylor, Executive Assistant to the Secretary-Treasurer at 202-842-8538 or aaugust@apwu.org if you are not sure whether your local or state is complying. During 2023, the Secretary-Treasurer’s department provided inperson Secretary-Treasurer’s training opportunities in April, June and September for presidents and treasurers to attend.

I would like to wish all the members of the APWU happy holidays and a prosperous New Year. ■

Save the Date! The next Secretary-Treasurer’s training is scheduled for National Harbor, MD at the MGM for March 4-8, 2024. Details will be posted in the event section of the APWU website. do to assist you in any way, please do not hesitate to contact us.

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