Monday, January 6, 2014

Dues Referendum 2014 - the proposal

As you may be aware, Council has been carefully monitoring Equity's ongoing financial stability for several years now. Although we have been able to weather inflation for most of the last decade and a half, it has finally caught up with us.

In response to increased costs over the past 14 years, Council proposes to adjust basic dues to $180 (currently $135), coupled with a change in working dues to 2.25% (currently 2%). Because a change in the dues rate requires member approval, we will be conducting a referendum on the matter this coming February.

At Council's request, staff prepared 5 different dues adjustment projections for our consideration: a change in basic dues only; a combination of changes to basic and working dues, and three options for a change in working dues only. We went with a combined basic and working dues format based on member feedback, which suggested that a modest increase to basic dues, coupled with a small increase to working dues, would be an appropriately balanced approach. 

The final work was done at our June 2013 Council meeting. Using real-time financial projections, we adjusted the amounts to what we anticipate members will regard as fair, reasonable and bearable across the whole spectrum of member incomes.

So, what will the proposed change in dues look like on your paycheque? If approved, the semi-annual dues billing will go up to $90 in May and November, or an increase of $3.75 per month. On the working dues side, the rate would increase to 2.25%, so a member in the middle of our income range, earning about $15,000 per year, would see working dues go up by $37.50 for the whole year.

We value informed voters, so if you want more info, we want to hear from you. Contact us at duesreferendum@caea.com and we'll get you the answers you need.

When you receive your voter package, Council encourages you to vote “yes”. It’s your association – please support Equity, so Equity can support you.

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