The Chapter is a Business

When it comes to finances, the chapter truly is a business. If the chapter utilizes business procedures in its financial operations it will most likely prosper, for many similarities exist between a chapter and a private business.

Every business has its investors; the chapter’s investors are its members. From the day a member joins, he invests funds in the chapter. The chapter leaders are charged to manage this investment to the best of their ability.

As the treasurer of your chapter, you serve in a similar position as the chief financial officer of a business. You sign off on all expenses, and, in turn, you will be held responsible for the financial security of the chapter. Your decisions, your organizational skills, and your integrity will play a big part in defining where the chapter will go in the future.

Communication

Communication is the most important component of the financial operations of any chapter. Each member should be made aware of his financial obligations from the day he signs with the chapter. One of the first new member meetings should include a financial orientation.

It is also recommended that financial obligations be thoroughly described in the chapter’s bylaws and the new member handbook of the chapter. Excerpts can be read or reviewed regularly at chapter and new member meetings. Written acknowledgement of these obligations by each member, possibly in the form of membership contacts, is strongly encouraged.

Regular reports on the chapter’s financial operations should also be provided to the members. The important thing is to use as much communication as possible and to be consistent.

As treasurer, you are at the helm of the financial operations of your chapter. The International Fraternity is your biggest advocate in this endeavor, and we want you to be the most dynamic treasurer you can be. While we provide many great resources on pikes.org and through myPIKE, we know that you’re going to be busy. Our goal is to better equip you with the information you need when you need it so you can stay informed and proactive while you further the goals of your chapter. I will be pushing content to you that I hope will help you be as dynamic as possible, so use this blog as a resource throughout your term! Congratulations on your election, and I’ll be in touch!

Jarrett M. Way

Director of Educational Content & Strategy