New Federal LM-2 financial reporting regulations are in effect for all labor organizations with annual receipts of $250,000 or more. JayStar Group, Inc. announces new advisory services to assist labor with their compliance of these new, difficult rules.
NORWALK, CT (PRWEB) August 20, 2004 –- JayStar Group Inc. a leading provider
of financial software solutions announced today the launch of their service
offering assistance, consultancy and products to labor organizations to enable
compliance with the recently revised LM2 Labor Organization Annual Report
regulations. These new U.S. Department of Labor regulations will affect any
labor organization with annual receipts of $250,000 or more. Such a low
threshold of annual receipts, combined with the greatly increased record keeping
needed to properly file these annual reports will guarantee compliance problems
for many labor organizations. The need to act fast is particularly acute as many
labor organizations have just started, or will soon begin their new fiscal year.
They are already required to maintain their records differently, and could
already be in a “catch up” mode without their even realizing it.
JayStar Group has developed unique expertise and is proud to assist Labor in this area. Services include appraisals of an organization’s compliance readiness, detailed recommendations on how to set up financial systems and procedures, implementation of new procedures and systems if necessary, and assistance with the new electronic filing regulations. Commensurate with the beginning of these services is the launch of a new website, WWW.LM2HELP.COM, where more details are available.
“We suspect that many labor organizations are not fully aware of the impact of these new regulations and, in fact, are not in a position to capture the information in the manner required for compliance. These rules apply to all levels of labor, from locals on up to District Councils and Headquarters. All of labor will feel this one. We see it as our mission to minimize the impact of these new regulations on the affected organizations so they may focus on serving their members,” said David G. Roger, President of JayStar Group.
About JayStar Group.
JayStar Group Inc. is already assisting labor and is proud to include as its customers organizations ranging from the International Longshoremen’s Association to the CWA Local 1168 Nurses United. The company’s core expertise is drawn from a combination of finance and information technology professionals with over 50 years’ combined experience. Their focus is on finding the “best fit” of systems, standards, and procedures so their customers can focus their own missions. JayStar Group has partnered with multiple service and product providers and is a Certified Microsoft Business Solutions Partner.
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Source : http://www.prweb.com/releases/2004/8/prweb151218.htm