JSU Greek Accreditation Program Financial Management
Financial Management -- 11% of Total Value
(62 points possible)
Poor financial management of a chapter is likely to have negative effects on overall chapter management. Implications may include a poor credit rating, loss of necessary chapter programs, deterioration of morale, and potentially even physical discomfort. Through discipline, consistent bookkeeping, qualified supervision, and fiscal control, the chapter will build an atmosphere of fiscal responsibility and security.
12 points
1. A chapter budget is prepared by the treasurer and executive officer each semester or yearly, with approval by the chapter advisor.
In order to receive the full six points per semester, a chapter must submit a chapter budget including the appropriate signatures of the president, treasurer, and (financial or chapter) advisor.
Chapters need not submit actual dollar amounts with their budgets. Percentage allotments indicating the percentage of chapter funding to be spent on a particular event or area of concern will suffice. (i.e. Scholarship = 35%, Social = 15%, etc.)
Remember, the budgets are for the Spring 2012 and Fall 2012 terms.
12 points
2. An adequate bookkeeping system is maintained and monthlyreporting to the chapter, and any other relevant parties (i.e. chapter advisor) is required.
The chapter maintains an adequate bookkeeping system and reports monthly to the chapter, chapter advisor, and other relevant parties (financial advisor, national organization) on a regular basis.
______
Signature of Chapter Advisor
______
Signature of Chapter President
______
Signature of Treasurer
12 points
3. The chapter strictly enforces financial discipline as prescribed by the chapter’s constitution and bylaws (or as mandated by the National headquarters, if applicable).
The chapter strictly enforces financial discipline as prescribed by the chapter’s constitution and bylaws or as mandated by the national organization such as restriction of social functions, no voice and vote privileges, membership probation and expulsion and is in complete compliance with the policies of the national organization.
_____Yes _____No
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Signature of Chapter Advisor
______
Signature of Chapter President
______
Signature of Treasurer
20 points (10 per semester)
4. The chapter pays its bills due to IFC/Panhellenic/NPHC, the University, and other agencies on time.
This information will be verified through the treasurers or IFC, Panhellenic, NPHC, and University personnel. You do not need to submit information for this item. Please keep in mind that this includes paying your utility and rent on time with the University.
6 points
5. The chapter is in financial good standing with national organization.
Attach a letter from Executive Office/Headquarters stating chapter’s financial good standing.