SAG-AFTRA

Summer 2020

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sagaftra.org | Summer 2020 | SAG-AFTRA 13 Accepted Accounting Principles). We are incredibly fortunate that when 2020 began, SAG-AFTRA was on track for a record-breaking fiscal year. Obviously, the pandemic and the resulting industry shutdown threw us off course, but our strength in the first 10 months of the fiscal year placed SAG-AFTRA in the best possible position to weather this storm. After COVID-19 hit, we worked tirelessly to adjust to the new constraints and, in spite of the challenges we faced, we ended with a year-end surplus — which will be essential in supporting the difficult year ahead. Although broadcast and voiceover work continue, many members are still out of work and our dues revenue is down. Since our members' working dues are calculated based on the previous year's income, we can expect a reduced level of working dues paid to the union next year, even if production does resume in the near future. The projected decline in union income necessitated a more aggressive approach to budget cuts. It feels reductive to describe these decisions as just "cuts," because they are much more than that; they were painful decisions that involved Dear Fellow Union Member, T his is a difficult and uncertain time for us as individuals and for our union. I take my role as secretary-treasurer very seriously and want you to know that I am dedicated to preserving union assets and ensuring that we remain fiscally strong. To that end, I have some important operational news to share. The Finance Committee has worked diligently throughout this crisis, and I want to thank Arianna Ozzanto and her dedicated staff for all the hoops of fire they've jumped through to provide us daily accounts of our finances. During this unprecedented time, our financial team has proven itself a responsible steward of our union's finances. With SAG-AFTRA's conservative financial philosophy, we have successfully withstood the large market swings and did not suffer the same levels of financial damage as many other organizations. The auditors at PricewaterhouseCoopers have, once again, issued an unmodified opinion and certified that our financials are in compliance with GAAP (Generally our coworkers and friends, and we did not make them lightly. These sacrifices will keep your union strong and allow SAG-AFTRA to continue supporting you through this difficult time and into the future. The year ahead will pose many challenges, but you can rest assured that we will continue to closely monitor our finances and make the necessary adjustments to continue serving our members. This institution has been supporting members through economic booms and financial crises alike since the 1930s. Regardless of the circumstances, SAG-AFTRA is safeguarding precious union resources, continuing to provide uninterrupted member service and developing meaningful protocols to help get you back to work safely. Our mission is to stand strong in defending, protecting and advocating for our membership. In health and solidarity, Camryn Manheim C A M R Y N M A N H E I M "Our mission is to stand strong in defending, protecting and advocating for our membership."

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