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The
assets of SBEU have REACHED $5,981,463.00 as at financial year ending 31 March
2007. This is an increase of $306, 073.00 or 5,4% over the previous financial
year.
The
SBEU General Fund account for $3,012,958.00 while the Benevolent Funds total
$2,968,504.00.
The
main income of SBEU is membership fees, commission from Life and General
Insurance scheme, Union Yes Retreat & Fixed Deposits interest.
The
Retreat made an operating profit of $28,821.00 on gross sales of $335,599.00.
This is very encouraging as we had budget an operating deficit for the 1st
–3rd years of the Retreat’s operations. We expect the operating
profit for this year
to be about $65.000. We achieved an occupancy rate of more than 85% for
weekends and public holidays. |
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The
Union’s financial risk management policy seeks to ensure that adequate financial
resources are available for the development and functioning of the Union’s
operation whilst managing its liquidity and credit risks. The Union operates
within clearly defined guidelines that are approved by members and the Union’s
policy is not to engage in speculative transactions.
We
append the highlights of the Audited Accounts. The Full report is available at
all SBEU Branches. It will also be made available online.
Click link below for the full detailed of the report
> For General Funds Reports 2007
[
Click Here ]
> For
Benevolent Funds Reports 2007 [
Click Here ]
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