Plasterers & Cement Masons Local No 148

“During the year ended december 31, 2017, it was discovered that the local's business manager had misappropriated funds of the local at which time the business manager was removed from his position and the local was placed under international trusteeship. The opcmia initiated an investigation into the local's finances and discovered that local's business manager had made unauthorized disbursements and expenditures from the local's checking accounts for his personal benefit and/or for which no documentation for the business purpose of the transaction was provided. These unauthorized transactions total $178,684 from january 2013 through may 2017. It was also discovered that the business manager authorized payments to a former employee that no longer provided any services to the local. These unauthorized payments to this former employee total $14,710 from july 2015 to june 2017. It was also discovered that an office employee received unauthorized payments between april and may 2017 totaling $1,461 and unauthorized salary payments between july and october 2017 totaling $1,173. This office employee was terminated upon discovery of the unauthorized disbursements. As of december 31, 2017, the local was due $178,684 from the former business manager and $17,344 from the former employees. These amounts have been reported as loans receivable. The local, with assistance from the opcmia, legal counsel, and an independent cpa firm, is continuing to investigate the extent of the loss to the local. The local will seek to recover the loss from the former business manager, former employees, and through the local's fidelity bond insurance policy.”

“Plasterers & cement masons local no. 148 is a membership organization. Membership to the local is described in article iv of its by-laws.”

“Plasterers & cement masons local 148 eligible members in good standing appoint officers of the governing body through an election process. Election of the officers is discussed in articles 7 & 8 of the organization's by by-laws.”

“A two thirds vote of members in good standing, who are present at the specified special meeting, is required to adopt amendments to the plasterers & cement masons local no. 148's constitution and by-laws. Amendments are described in article xxi of the organization's by-laws.”

“There is no committee with authority to act on behalf of the governing body.”

“The plasterers & cement masons local no. 148's form 990 is prepared by its independent public accountant who then forwards the completed return to the local's governing body for review and signature prior to filing.”

“The executive board meets monthly, at which time reviews all policies in place have been adhered to and strictly enforced.”

“The organization does not make available to the public its governing documents, conflict of interest policy or financial statements.”

“Transferred from merged opcmia locals 62, 78, 311, 567, 812 and 909 129,633.”

“Plasterers & cement masons local no. 148's governing body is responsible for the oversight of the audit of its financial statements and the selection of the independent accountant.”