| Overview The Balance Sheet shows the assets and
liabilities of the organization and is a summary of the results of
transactions at the end of the period being reported. The difference between assets and liabilities is called "Net Excess"
in not-for-profit organizations. In other words, net excess is what would be left if all
of the assets were sold to satisfy all of the liabilities owed by the union. This amount
is one measure of the relative "health" of the union. |
