were drawn up, it was revealed yesterday.

And the union's spending exceeded its income by almost $366,000, a new financial report shows.

Most of the rise in expenditure was due to a jump in union management's expenses.

It is the second year running that expenditure at the BIU has outstripped earnings. But the year before the figure was less than $86,000.

The union presented its latest audited accounts, covering October 1, 1991, to September 30, 1992, to the Registrar General.

The period involved continued recession hardship for workers and Island-wide unrest related to the Bermuda Forwarders dispute.

Total expenditure went up from $2,120,890 the year before to $2,238,432, largely because of an increase under the heading "other expenses of management''.

These expenses, which are not detailed further, grew from $809,177 to $917,993. Officers' salaries rose slightly, from $878,294 to $880,869.

Payments to unemployed members increased from $47,568 to $82,192. And members' sickness payments went up from $2,440 to $3,990.

The figures reveal total income dropped across the board, from $2,035,134 to $1,872,461. Contributions paid by members to all funds went down.

The BIU gas station brought in $101,040 net -- more than three times what it did the previous year.

But the Liberty movie theatre lost $154,295, more than twice the loss of the previous year.

The latest accounts show little apparent change in real estate holdings, which form almost all of the BIU's $8,328,821 assets. But they indicate the BIU had no cash in the bank, compared to $5,774 the year before.

The organisation did, however, owe the bank less than it did the year before -- $794,806 compared to $873,108. And fewer union dues were outstanding No strike pay or legal expenses are mentioned in the account statement.

The last time the union's income exceeded expenditure was the year ended September 1990. The union then brought in more than $240,000 than it spent.

That year the union had $68,407 in the bank.