The finance committee oversees the budgeting process and enforces the financial policies of the chapter. Most commonly, the committee is composed of the chapter treasurer (who acts as chairman), an alumnus advisor, assistant treasurers, the past chapter treasurer (if available), as well as the house and kitchen managers (if applicable).

Specific Committee Member Functions

The responsibilities of the recommended finance committee are as follows:

Assistant Treasurer (Accounts Receivable):

  • Ensure accuracy of member balances in electronic billing system; enter payments received by the chapter.
  • Ensure accuracy of member statements with billing service account representative.
  • Work with members in the formation of any potential payment plans (as an exception and only when deemed necessary as a result of personal hardships).
  • Educate members and new members on the financial obligations of membership.

Assistant Treasurer (Accounts Payable):

  • Act as signatory on chapter checking account (two of the three authorized signers should sign every check).
  • Assist with creation/maintenance/reporting of the chapter budget.
  • Ensure timely payment of all balances due by the chapter.

Chapter President:

  • Act as signatory on chapter checking account (two of the three authorized signers should sign every check).
  • Assist in education of members and new members regarding the chapter’s financial policies and procedures.
  • Assist the chapter treasurer in enforcing the chapter’s financial policies as necessary in individual circumstances.

House/Kitchen Manager:

  • Serve as housing/kitchen operations liaison to the chapter finance committee.
  • Assist the chapter treasurer in enforcing the chapter’s financial policies as they pertain to housing/ kitchen operations.

Having a committee in place provides the manpower to stay on top of the financial proceedings of the chapter, while inherently implementing a system of accountability when it comes to chapter finances. For more information, take a look at the treasurer handbook.

Jarrett M. Way

Director of Educational Content & Strategy