Sheet Metal Workers J&A Train Tr Fund

“The trust is administered by a board of twelve (12) trustees, six (6) of whom shall be designated as union trustees and six (6) of whom shall be designated as employer trustees. The mca-smacna of san antonio shall designate three (3) of the employer trustees and the austin sheet metal association shall designate three (3) of the employer trustees. The union shall designate six (6) of the union trustees.”

“The trust does not have a committee authorized to act on behalf of the governing body.”

“The organization contracts their outside public accounting firm for the preparation of the return based on data supplied by management. Once the return has been prepared, a draft is reviewed by the organization and any changes are incorporated into the filing. With the changes made to the filing, the return is then submitted to the trustees before filing.”

“The conflict of interest policy is directed not only to directors and officers, but to all employees who can influence the actions of the jatc. It shall be the continuing responsibility of the board, officers, and management employees to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures to the board chair, who shall bring the matter to the attention of the board. The board shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to jatc. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1) the conflicting interest is fully disclosed; 2) the person with the conflict of interest is excluded from the discussion and approval of such transaction; 3) a competitive bid or comparable valuation exists; and 4) the board has determined that the transaction is in the best interest of the organization. The decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of jatc and the advancement of its purpose. Conflicts of interest are reviewed at each meeting, as they arise by the committee.”

“The board of trustees approves compensation for all employees during the budgeting process. The board also verifies that compensation for union-represented employees complies with the collective bargaining agreement in effect.”

“Governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

“MODIFIED CASH”

“The board of trustees oversees the audit. The board did not change either its oversight process or selection process during the tax year.”