| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | Bylaws were approved September 3, 2024 and below are notable updates. Article III - Election - add language on run-off election when necessary. Added new Section regarding situations when voting machines may be used for local elections. Added language regarding when a member or apprentice is eligible to hold office. Article V - Business Manager - Deleted language regarding full time basis for office of President/Business Manager and Assistant Business Manager. Article IX - Dues - Update amount of monthly dues per A and BA membership classifications. Article X, Fund - established General Fund as the funds of the Local Union. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE LOCAL IS COMPRISED OF DUES PAYING MEMBERS AS IN ACCORDANCE WITH ARTICLES XIX AND XX OF THE IBEW CONSTITUTION. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS IN GOOD STANDING HAVE THE RIGHT TO VOTE FOR OFFICERS BY SECRET BALLOTING ONLY. |
| FORM 990, PART VI, SECTION B, LINE 11B | NO REVIEW HAS OR WILL BE CONDUCTED. |
| FORM 990, PART VI, SECTION C, LINE 19 | NO DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. |
| FORM 990, PART XII, LINE 1 | THE LOCAL UNION FINANCIAL STATEMENTS ARE BASED ON THE MODIFIED CASH BASIS OF ACCOUNTING, WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THAT BASIS DIFFERS FROM GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THAT REVENUES ARE RECOGNIZED WHEN RECEIVED INSTEAD OF WHEN EARNED AND EXPENSES ARE RECOGNIZED WHEN PAID INSTEAD OF WHEN THE OBLIGATION IS INCURRED. DIFFERENCES ALSO INCLUDE LEASE EXPENSE BEING RECOGNIZED WHEN PAYMENTS ARE MADE RATHER THAN USING THE STRAIGHT-LINE METHOD OVER THE LEASE TERM, AND A RIGHT-OF-USE ASSET AND LEASE LIABILITY ARE NOT RECOGNIZED ON OPERATING LEASES WITH TERMS OF MORE THAN ONE YEAR. MODIFICATIONS TO THE CASH BASIS OF ACCOUNTING IN THE ACCOMPANYING FINANCIAL STATEMENTS INCLUDE, CAPITALIZING PROPERTY AND EQUIPMENT AND RECOGNIZING DEPRECIATION EXPENSE. ADDITIONAL MODIFICATIONS INCLUDE RECOGNIZING INVESTMENTS AT FAIR VALUE. |
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