The Congress of South African Trade Unions (Cosatu) has reported in its detailed income statement a loss of R842 153 rand in the year to December 2005, down from a R5,4-million profit in 2004.
This is reported in its treasurer’s report to the Cosatu congress being held at Midrand. Its books were audited by Deloitte and Touche.
Although total income was R33,7-million in 2005 — from R34,1-million in 2004 — expenses rose to R34,5-million in 2005 — up from R28,6-million in 2004.
Under the income item, it is noted that affiliate fees — from unions falling under the Cosatu umbrella — amounted to R28,3-million in this time, up from R26,9-million in 2004.
Total income was R33,7-million in 2005 compared with R34,1-million in 2004.
The biggest expenditure items were salaries, wages and contributions at R13-million — up from R10,5-million in 2004. Campaigns cost R12-million in 2005, up from R9,2-million in 2004.
Motor vehicle expenses were up from R1,58-million in 2004 to R1,6-million in 2005.
The treasurer’s report noted that “the latest figures from July 2006” were worrying. It said 11 affiliate unions owed the federation R9,5-million in mainly affiliation fees. — I-Net Bridge