New York Codes, Rules and Regulations
Title 12 - DEPARTMENT OF LABOR
Chapter VIII - Division Of Labor And Management Practices
Subchapter A - Reports And Records
Part 550 - Labor And Management Improper Practices Act-rules And Regulations
Subpart 550-3 - Maintenance And Retention Of Records
Section 550-3.1 - By labor organization and employer organization
Universal Citation: 12 NY Comp Codes Rules and Regs ยง 550-3.1
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Every labor organization and employer organization shall establish and maintain records which will provide in sufficient detail the necessary basic information and data from which the annual financial report may be verified, explained or clarified, and checked for accuracy and completeness, and shall include, without limitation:
(1) Gross receipts
(i) the amount and date of each
receipt
(ii) the name of the source
of each receipt
(iii) the occasion
or reason for such receipt, e.g., assessments, dues, etc., together with
documentary verification of such information
(2) Bank statements
(3) Duplicate bank deposit slips or record
book of bank deposits
(4) Duplicate
dues and assessment receipts
(5)
Collective bargaining agreements
(6) Gross disbursements
(i) the amount and date of each
disbursement
(ii) the name of the
recipient of each disbursement
(iii) the purpose of each
disbursement
(7)
Cancelled checks
(8)
Invoices
(9) Petty cash
vouchers
(10) Receipted
bills
(11) Authorization to expend
money, such as resolutions.
In addition to the foregoing the records of a labor organization shall contain information on receipts from fines, work permit fees and from check-offs.
(b) All such records shall be kept available for examination for a period of not less than five years after the end of the fiscal year.
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