Provincial Treasurer’s Report: BCNU Ends 2024 Fiscal Year in Strong Financial Shape
BCNU Provincial Treasurer Sharon Sponton delivered the union’s financial report during the first day of convention, and provided details about the union’s revenue, operating surplus, financial position, capital assets and expenses.
Delegates learned that revenue from membership dues grew in 2024 following wage increases and a growth in the number of members working full-time. Revenue also increased following the one-time Nurses Bargaining Association (NBA) Nurse Support Fund transferred from the provincial government. Additionally, union investments brought increases in revenue thanks to higher investment interest rates.
Sponton informed delegates that the 2024 year-end operating surplus has been fully allocated to the Infrastructure Fund, the new Member Engagement and Steward Education Fund and the Bargaining Fund.
Sponton also let delegates know that BCNU has sufficient cash funds for daily operations and capital assets free of mortgage and financing. She noted that BCNU’s real estate properties, including the recently purchased Kelowna office, are secure long-term investments.
“As you can see, BCNU is in a strong financial position at the end of 2024,” she said.
Sponton commended the work of BCNU’s finance department, noting that it processed 20,393 salary reimbursement days, 11,156 salary reimbursement forms, 29,775 invoice and expense forms and 14,446 payments in 2024.
Delegates saw the complete list of BCNU’s funding and bursaries, including the new Strategic Priorities Education Fund Bursary and CFNU Indigenous Student Nurse Education Bursary. Sponton reported that, as of May 2025, BCNU has awarded $4.86 million to members accessing the LPN to RN/RPN Laddering Fund, $2.46 million in NBA Hardship Assistance and $2.23 million to members enrolled in the NBA Supplemental Mental Health Benefit plan.
Sponton concluded her report by reminding delegates to take the union’s new finance training module for BCNU leaders and representatives to learn about the union’s financial policies and processes such as salary reimbursement, union leave and various member expense policies.