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Alan Reid, first witness for the day has been sworn.   He's a 42 year veteran working with City Rail - he became a shop steward with the ETU 22 years ago and has been a member of the State Council of the ETU for 22 years.   Mr Reid has been Treasurer of the ETU NSW for 10 years.   He is not a member o the ALP.

Mr Reid is not a good advertisement for union governance standards.

He has been the Treasurer of the ETU NSW Branch for 10 years - but he's told the Commission that it was only in the past 5 years or so that he became properly aware of the financial and reporting responsibilities that the Treasurer is accountable for, not only union rules but under the various legislative provision (i.e. law) that regulate unions.

Mr Reid has some recollection of discussing large amounts of ETU money in his role as Treasurer but he can't remember what the large amounts of money were for.   Could have been used to buy a house, could have been given to Labor, who knows?   Apparently everyone just did what Bernie said.

The governance ramifications are obvious.

AT 1039 Mr Reid was excused.

The nest witness is Geoff Prime.

Thanks to Andrew Casey who is present at the Commission for the following photographs of screened exhibits.

Bank records shows $20k in $100 notes, $35k in $50 notes and $5k in $5 notes for @NSW_ETU elections #turc pic.twitter.com/xo55m9WaQL

— Andrew Casey (@AndrewSCasey) April 29, 2015

Here is Cash Cheque which Paine signed for $60k for election fund. Paine denies he mighta signed blank cheque #TURC pic.twitter.com/NIXTiUlD0g

— Andrew Casey (@AndrewSCasey) April 29, 2015

Claims at #turc that $60k withdrawn from 'caucus election fund' for election and money was taken out in cash. pic.twitter.com/LNk2BqpPCl

— Andrew Casey (@AndrewSCasey) April 29, 2015

Here's a crisp summary of this morning's proceedings from reader Kooka

kooka said:

I have just been listening to the TURC this morning..... ETU Officers Fund... Mr Geoff Prime ...Trustee Asked the following: Have you seen a Balance Sheet...NO Are accounts audited...NO Have you an external Accountant...NO Accounts at meetings...NO He is quite happy to say he signed a cash cheque for election fund for $60,000-00 but has never followed it up!!! Money means nothing to these Unions...No checks and balances. That is exactly how the Unions and ALP like it.... A flowing ATM,a river of gold. Unions surely have to be brought into line with Company accounting.This is ridiculous!