7.02.26 – Treasurer’s Update: Our 2026 LM-2 Has Been Filed and Posted

Thursday, July 2, 2026

Our 2026 LM-2 Has Been Filed and Posted

The LM-2 for the fiscal year ending March 31, 2026, was filed with the U.S. Department of Labor (DOL) on June 30, 2026, and is now available in the Members-Only section of APFA.org.

What is the LM-2?
The LM-2 is the annual financial report every labor union of our size files with the DOL’s Office of Labor-Management Standards (OLMS). It reports our total receipts and disbursements; the compensation paid to your Union Representatives and staff; the payments we make to outside professionals, vendors, and consultants; and our assets and liabilities.

Financial Performance
Here is the top line for the year, with last year alongside it for comparison:

• Total cash receipts: $14,804,796, up 8.1% from $13,701,623.
• Total disbursements: $14,095,269, down 0.4% from $14,146,427.
• Dues and agency fees collected: $13,419,191, up 2.1% from $13,139,191.
• Cash on hand: $1,772,700, up about 67% from $1,063,173.
• Total assets: $15,264,818, up 6.6% from $14,324,560.
• Net assets: $12,966,492, up 2.5% from $12,650,781.

One important note on the dues and agency fees. Of the $13,419,191 collected, $4 of every $41 in dues and agency fees received was allocated to mandatory savings in the Negotiations and Negotiations Related Fund (NNRF). This year, that came to $1,309,329.75, which is restricted to that fund and is not available for general operations. So the amount actually available to run the Union day-to-day was about $12.1 million ($12,109,861.25).

Some of what we spent was later reimbursed, so it came back to the Union. Externally, we recovered $513,854, mostly in company pay/loss reimbursements for EAP/CIRP and for the Contract Implementation Committee (CIC), as reported on Schedule 14 of the LM-2.

Internally, another $840,759.70 was reimbursed to the operating budget from our Special Funds, covering costs that those funds exist to pay:

• Meetings & Events Fund: $475,645.23
• NNRF: $238,357.42 (Pay/Loss for 1 CIC Member and expenses for all CIC Members)
• Voting & Elections Fund: $51,159.62
• Arbitration Fund: $41,922.65
• Education & Training Fund: $31,604.81
• Litigation Fund: $2,069.97

All told, about $1.35 million of our disbursements was offset by reimbursements.Our independent auditors are scheduled to begin their field work in August. Once that’s complete, we will post the audited results in the member’s only section of the website. So, for now, this update is about the LM-2, how your dues money came in, and where it went.

Dues Arrears Performance
As of March 31, outstanding dues totaled about $1.9 million across roughly 5,000 accounts. The large majority of those are small, most under $1,000, and we work on every one of them. It also helps to see where those balances sit:

• 1,929 Active Members on the line: $449,000
• 1,151 Members on a leave of absence: $659,000
• 604 Inactive Members (Retired in arrears): $362,000
• 39 Agency fee payers and objectors: $33,000
• 1,315 Former members (resigned, terminated, management, transferred): $381,000
  • Of these, 959 accounts totaling about $334,685 are have been sent to our outside collection agency.

We’ve been working diligently across all headquarters departments to revamp our statement design to make it clearer and easier to read, and to enhance the notification process, including the launch of e-Statements.

Currently, we are often unaware of whether a member has gone on leave or returned until months later, causing arrears to fluctuate and creating timing issues. We are working to find a solution with the company to give us more real-time access to leave durations so that members can get automated notifications prior to going into arrears.

If you are going out on a leave, please email the Dues Department at [email protected] to put a card on file to ensure your dues are paid while on leave.

Hours Paid and Hours Worked Report – Coming This Month
As mentioned in our last Treasurer’s Update, the next report to be published this month will detail the budget, the hours each of your representatives has been paid, and the number of hours they worked. While the LM-2 shows the full dollar amount of salary and reimbursements, this report will break down the number of hours paid to make up that salary.

Your Right to APFA’s Financial Records
This is your money, and the right to see how it is used is yours. Under Article II, Section 3.B of the APFA Constitution, every Member in good standing has the right to access all administrative and financial reports and records. Under Section 7.G.1 of the APFA Policy Manual, those records may be reviewed through your Base President or the Office of the National Treasurer, and the Policy Manual specifically provides that the Members Only section of our website may carry information on the financial status of the Union.

Federal law also provides a right of access to certain information. Under Section 201(c) of the Labor-Management Reporting and Disclosure Act (LMRDA), every Member, upon a showing of just cause, is entitled to inspect the books, records, and accounts necessary to verify the accuracy of the annual financial report (Form LM-2) that APFA files each year with the U.S. Department of Labor’s Office of Labor-Management Standards (OLMS). Our LM-2 filings are posted in the APFA Finances section of the APFA website and are also public; anyone with a computer and internet connection can examine the reports or obtain copies through the OLMS Online Public Disclosure Room.

If you would like to review records to verify what is reported on the LM-2, or have any questions, please contact me at [email protected].

In Solidarity,

Erik Harris
APFA National Treasurer
[email protected]