In a win for transparency and union member rights, the Chicago Teachers Union finally released “annual” audits to members after a five-year lapse in providing the required records.
But CTU’s leaders didn’t do so willingly. It took the mounting pressure of a lawsuit filed by members, an inquiry by a U.S. Congressional committee and a potential investigation by the U.S. Department of Labor to get union leaders to follow their own internal rules.
Why would CTU leaders fight so hard to keep members in the dark?
Maybe because at least two of the union’s combined financial statements were seriously flawed, accordingto The Last Ward, which obtained exclusive copies. An independent auditor issued adverse opinions about the statements, which means the auditor concluded the union’s finances were misstated in a material and pervasive way.
Specifically, two combined financial statements include the union and its two political action committees. The union “elected to omit” activities of the Chicago Teachers Union Foundation and the Children and Teachers Foundation of the Chicago Teachers Union. As a result, the auditor found the combined financial statements “do not represent fairly the financial position of the Chicago Teachers Union.”
