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					Chapter Finances & Operations



            July 29, 2000
     Alumni Leadership School
              Presented By:
            Jeremy M. Harvey
       Chapter Financial Consultant
       Topics To Be Discussed

•Chapter Finances
   • Eminent Treasurer Duties
      • Budgeting
      • National Deadlines
   • Tips for Improving Chapter Finances
   • Where does the money go?


• Chapter Operations
              Chapter Finances
Definition:
  • Chapter finances include anything that has to do with the
  movement or management of fraternity chapter funds.


Things to keep in mind:
  • An SAE Chapter is a brotherhood of men, as well as a
  business organization.

                       - The Phoenix, p. 110

   • “Brotherhood starts when the bills are paid!”

                        - Jim Pope, Past ESA
               Treasurer Duties
• Collect money that is owed to the chapter and present a receipt
• Hold the chapter’s funds, securities, vouchers, and account
books
• Submit a monthly financial report to the chapter
• Pay all monies owed by the chapter
• Attest transfer cards
• Prepare and forward to the fraternity office by the 30th of the
month following the end of the fiscal year an annual financial
statement
• Prepare and forward Form P, Form C & Form A to the
fraternity office
• Maintain an annual budget
                      Budgeting
• Budget semesterly
• Look ahead
• Prepare for the unexpected
• Make sure operational expenditures are covered first
• Review past budgets
• Know where all revenues are coming from
• Always add a safety factor on variable costs
• Revenue should be 10% greater than expenditures
            National Deadlines
• Oct 1 - Liability Insurance Premium (Discount)
• Oct 15 - Chapter Budget
• Nov 15 - Form C & IRS 990
• Feb 1 - Annual Dues Payment (Discount)
• May 1 - Fidelity Bond Premium Due


•Others
   • Form P - within 10 days after formal pledge ceremony
   ($75/man)
   • Form A - within 10 days after initiation ($200/man)
                Chapter Fees

• Insurance Premium    $124 per active brother

• Annual Dues          $90 per active brother

• Fidelity Bond        $150 per chapter

• Pledge Fees          $75 per pledge

• Initiation Fees      $200 per initiated brother
              Tips For Improving
               Chapter Finances
• Use a computer or Omega
• Have important information sent to a P.O. Box
• Elect someone who is responsible and accountable
• Elect a deputy treasurer
• Form a financial committee
• Have a chapter financial advisor
• Have an accounts receivable sheet
• Restrict social activities for brothers who are late with dues
• Maintain a chapter savings account or investment
• Jeremy Harvey 1-800-233-1856, extension 244
        Where Does The Money Go?
                                 Initiation Fees
                                       13%
 Insurance Fees                                                 Total Revenues: $ 3,674,056
      26%
                                         Annual Dues
                                            10%


Pledge Fees
    3%                                    Investment
                                            Income                  Foundation
       Other                                 16%                     Functions
        8%
                                                                       8%
                  Alumni Gifts
                     24%
                                                       Fraternity
                                                       Functions
                                                         21%
                                                                                    General & Admin.
                                                                                          49%



      Total Expense: $ 3,892,932
                                                             Insurance
                                                             Expenses
                                                               22%
            Chapter Operations

• Effectively pass the torch
   • Train young members
   • Have pledges on committees
• Maintain good alumni relations
   • Newsletters
• Maintain communication with housing corporation
• Maintain good relations with the school and surrounding
communities
   • Get involved!!

				
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posted:5/25/2010
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