Commander Roster, Finances, Vision/Strategy Treasurer Finances Recorder Roster.
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Transcript of Commander Roster, Finances, Vision/Strategy Treasurer Finances Recorder Roster.
CORE SESSION 4:
ROSTER & FINANCES
MANAGING ROSTER & FINANCES
CommanderRoster, Finances, Vision/Strategy
TreasurerFinances
RecorderRoster
ROSTER MAINTENANCE
Beginning of Semester Update member information
Update officers
Before & After Candidate Ceremony Candidate Registration & Approval
Before & After Initiation Initiation Approval
Expulsions & Resignations
COMMANDER RESOURCES
Commander’s Officer Resource Pagewww.sigmanu.org/commander
Members Area Instructions Update Roster Update Officers
Verify Candidates Verify Initiates
MEMBERS AREA REVIEW
Members Areahttps://members.sigmanu.org/login.asp
DUES, FEES, & ASSESSMENTS
WHAT COMMANDERS NEED TO KNOW
RISK MANAGEMENT ASSESSMENT
Pays for all risk-reduction services and educational programs
60% of annual assessment billed in fall 2 installments – due October 1st and November 1st
40% billed in spring 1 installment – due February 1st
Invoiced amounts based on total membership from previous semester and chapter’s risk management tier
Tier Levels – premiums set by tiers, based on recent chapter disciplinary record
INITIATE DUES
Helps to pay for multiple services and programs provided by the General Fraternity
$62.50 per initiated member, per semester Invoiced amount is based on the updated membership information provided by the chapter via the Members Area Per The Law, membership information update must be
completed twice per year on September 15th and January 15th, or 15 days from the start of each semester, whichever is later
CONCLAVE FEE
Covers the registration fee, representative materials, and lodging of chapter representatives to Grand Chapter and College of Chapters
Billed in four equal installments during the academic year. Fall ($1,250.00) – two installments of $625.00, due on
September 15th and October 15th
Spring ($1,250.00) – two installments of $625.00; due on March 1st and April 1st
CANDIDATE FEE
New member fee that is paid immediately after acceptance of bid and registering on Members Area as a candidate
$90.00 – to be paid prior to participating in Candidate Ceremony
If not paid online, at time of candidate registration, then fee will be invoiced to the collegiate chapter
INITIATION FEE
New member fee that is paid immediately after completion of candidate education program, but prior to participation in Initiation Ceremony $220.00
If not paid online, via Members Area, by individual, then fee will be invoiced to the chapter
QUESTIONS?
BUDGETING
5 STEPS TO CREATING A CHAPTER BUDGET
STEP 1: OFFICER REQUESTS
Submitted by every officer responsible for an area of chapter operations
Should be inclusive of all expenses and any potential income from events
Officers cannot submit accurate requests unless they understand the chapter’s vision, strategy, and goals
STEP 2: ESTIMATING COSTS
Functional Costs – typically consist of all expenses included in officer budget requests
Operational Costs – typically do not alter per member, regardless of the size of membership Examples:
IFC Dues
Conclave Fee
Initiate Dues
Risk Management Assessment
STEP 3: ESTIMATING REVENUES
Revenue = Dues Establish revenues on a per member basis Do not over estimate the number of members
STEP 3: ESTIMATING REVENUES
Total Fixed Costs
# of Members
Revenue Needed to
Cover Fixed Costs
STEP 3: ESTIMATING REVENUES
Total of Budget
Requests
# of Members
Revenue Needed to
Cover Operational
Costs
STEP 3: ESTIMATING REVENUES
Fixed Costs per Member
Operational Costs
per Member
Total Revenue Needed
STEP 3: ESTIMATING REVENUES
Candidate Dues should also be included in revenues
Candidate and Initiation Fees MUST NOT be figured into the budget
Housing should be established in its own budget
STEP 4: ADJUSTMENTS
Treasurer, Finance Committee, and Executive Board to determine if the dues structure is feasible to propose for approval
If the dues structure IS NOT feasible, then determine an alternate amount through possible adjustments
At this step, a chapter’s vision, strategy and goals are necessary in order to make decisions based on priorities
STEP 5: PROPOSE THE BUDGET TO THE CHAPTER
Treasurer and Finance Committee present the budget to the Chapter Explain the process used to determine budget
Review each operational area’s expenses
Review the dues structure
Open floor to questions from membership
Move for adoption of the budget
QUESTIONS?
OVER ANYTHING WE HAVE COVERED DURING THIS CORE SESSION