[Code of Federal Regulations]
[Title 29, Volume 2]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR453.15]

[Page 208]
 
                             TITLE 29--LABOR
 
  CHAPTER IV--OFFICE OF LABOR-MANAGEMENT STANDARDS, DEPARTMENT OF LABOR
 
PART 453_GENERAL STATEMENT CONCERNING THE BONDING REQUIREMENTS OF THE 
LABOR-MANAGEMENT REPORTING AND DISCLOSURE ACT OF 1959--Table of Contents
 
Sec. 453.15  The meaning of funds handled ``during the preceding fiscal 
year''.

    The funds handled by personnel required to be bonded and their 
predecessors during the course of a fiscal year would ordinarily include 
the total of whatever such funds were on hand at the beginning of the 
fiscal year plus any items received or added in the form of funds during 
the year for any reason, such as dues, fees and assessments, trust 
receipts, or items received as a result of sales, investments, 
reinvestments, or otherwise. It would not, however, be necessary to 
count the same item twice in arriving at the total funds handled by 
personnel during a year. Once an item properly within the category of 
``funds'' had been counted as handled by personnel during a year, there 
would be no need to count it again should it subsequently be handled by 
the same personnel during the same year in some other connection.