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