On Twitter late at night when I was trying to distract myself from the events of yesterday Brenda Pilott sent me this tweet in response to a conversation about the extreme unlikelihood that Cactus Kate would ever work for a union:
I responded that unions indeed have dodgy accounts to which her response was:
Coincidentally when I checked my email was an analysis of the PSA’s financials by the redoubtable Owl.
Public Service Association – Members should ask for a discount on Union Fees (Observation by the Owl)
The PSA Members should ask for a discount on Fees.
I am amazed to read in their 2011 Financial Reports and Reports that they had to increase union fees to members because (paraphrased by the Owl for simplicity but from their Reports)
- Increases to GST
- Increases in Business costs
- Ensure sound financial balance sheet
Members should note:
- There were two major increases – Wages by $500k (no GST there!)
- The second increase was $2.2M spent on travel and meetings yet they spent $400k on new IT projects including video linking all their site and upgrading all mobile phones for 131 staff (up two from the previous year – yet travel and meeting increased $200k)
- Their Balance Sheet is valued at $25M with $6M in holiday homes and made an operating surplus of over a $1M (excluding tax and depreciation)
- The PSA have a number of staff on contracts doing project work – yet they are criticizing the number of consultants being used in the Public Service (Have I read this wrong?)
Observation by the Owl
The PSA earns a 6% -8% return on investment (depends how you calculate it could be higher %) therefore members should be reaping the benefits of their investment in IT and a $1M surplus is excessively high for an Incorporated Society.
My calculations are that each member should get a $100.00 discount from 2013 onwards.