The International Brotherhood of Teamsters reported a balanced budget in 1998 for the first time in four years, according to audited financial statements released by the union.
Although income from dues and investments declined slightly, overall spending was down sharply for the year. The result was a budget surplus of $7.1 million.
Details of the 1998 budget were published in the October issue of Teamster magazine and represents a transition year following the 1997 ouster of Ron Carey as president of the 1.4-million member union.
Carey was barred from holding office in the organization after federal overseers found evidence that he had diverted un-ion money to pay for his 1996 re-election campaign.
For the full story, see the Oct. 11 print edition of Transport Topics. .
