1. Chapter Finances & Operations $ $ July 29, 2000 Alumni Leadership School Presented By: Jeremy M. Harvey Chapter Financial Consultant

2. Topics To Be Discussed Chapter Finances Eminent Treasurer Duties Budgeting National Deadlines Tips for Improving Chapter Finances Where does the money go? Chapter Operations

3. Chapter Finances An  AE 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 Chapter finances include anything that has to do with the movement or management of fraternity chapter funds. Things to keep in mind: Definition:

4. 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

5. 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

6. 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)

7. 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

8. 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

9. Where Does The Money Go? Total Revenues: $ 3,674,056 Total Expense: $ 3,892,932

10. 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!!