The Maritime Union of New Zealand are just starting file their correct financial statements and have released their 2005, 2006 and 2007 Accounts
A quick perusal shows that income received was actually $2.5M in 2007 against the original declaration of $ 573k
Operating expenses was $1.6M more than originally declared.
Full declaration of the consolidated accounts was requested by the Registrar of Incorporated Societies.
The Balance Sheet also shows an $11M increase in assets with $10.1M in fixed term investments.
The 2008, 2009, 2010, 2011 and 2012 Accounts are still to be filed.
More to follow….