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Preparing for the Future with Sound Financial Planning
This past week I attended the NPMHU 2009 Financial Management Seminar along with Local 308’s treasurer, Tony Branco. It was three days of intense learning that focused on our fiduciary responsibilities to our members and our legal obligations as they relate to the Department of Labor and the IRS. One of the most impressive things for me was to hear National President John Hegarty talk about preparing for the future with sound financial planning. He said we have to consider a future of reduced revenues. Consider the news that came out of Washington this week that the Service would like to reduce mail delivery from six days to five. Certainly, we all know that the Postal Service is not hiring new workers. That means our membership base will be flat, at best. In reality, it’s down nationwide from a high of 51,000 members to 47,000 currently. The loss of membership is a result of attrition and the Postal Service eliminating jobs. John also said that our future depends on uncertain factors, such as automation. The Postal Service will continue to look for ways to streamline its operations by automating them. In fact, the Service is studying automation that cuts flats bundles and places the mail in trays automatically. If it adopts that automation, the mail-handler craft will certainly lose some jobs. John concluded by reminding the locals to be judicious in spending money. That certainly has the full commitment of myself and our entire executive board. We are working hard to prepare our local for a better future. Never forget, in unity there is great strength. Fraternally,
John
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