Article VIII: Finances

Section 1: General Procedures

Clause 1: Procurement

This Chapter shall procure its funds through membership dues, fees, and assessments, and through fundraising activities conducted in accordance with the Chapter’s Governing Documents.

Clause 2: National Fraternity Funds

All receipts handled for the National Fraternity, such as Pledge fees, Initiation fees, annual Chapter assessments, and orders for supplies, shall be kept carefully segregated by adequate bookkeeping procedures so that these revolving funds may not be used by the Chapter.

Clause 3: Audits

At the end of each semester, and as otherwise required by the Chapter, the Chapters financial books shall be audited by the Advisory Committee and such other auditors as the Chapter may specify.

Section 2: Dues and Fees

Clause 1: Dues

The amount, distribution and collection of dues for Active members shall follow the procedures outlined in the Chapter Bylaws. Dues shall not be required for the term in which a member is initiated. The payment deadline for dues is the fifth Chapter meeting of the semester unless suitable arrangements have been made with the treasurer. After this date, a $5.00 late fee per week will be assessed.

Clause 2: Pledge and Initiation Fees

Each person becoming a Pledge or Active member shall be required to pay the appropriate Chapter and National Pledge or Activation Fee(s) before they are duly pledged or initiated. Any Pledge or Active member who has not paid these fees may not participate in the ceremony.

Clause 3: Assessments

An assessment may be levied on all Active members upon a two-thirds (2/3) vote at a regular Chapter meeting, provided that the proposal for the assessment has been submitted in writing two (2) regular meetings in advance.

Clause 4: Activity Charges

For the sole purpose of defraying expenses directly associated with a Chapter project or event, the Chapter may require that an activity charge be paid in order for members to participate in that project or event.

UPDATES:

4-26-17: Grievance Procedure has been updated so that the Grievance Committee doesn't have to report the grievance to the entire E-Board, only the appropriate officers. Ben out!

3-7-17: Change to the duties of Historian, VPL, VPM, President, Parliamentarian, and Advisory Chair. Addition of Grievance and Paparazzi Committees. Change to Associate Dues. Addition of Other Elected Positions. Change to Suspension and Expulsion Procedures.

2-1-17: Change in Standing Policy, Pledge Requirements (Section I, Clause 2, B 2) to reflect the addition of LAUNCH, lessening of service hours, and lessening of meeting requirements. "Attend 2 Big/Little events" was also removed.

1-10-17: Bylaws updated to reflect change of requirements for returning to active from inactive status (Article II, Section 5, Clause 2). Code of Conduct was updated to add the extended Grievance Procedure.

9-13-16: Standing Policy updated to reflect changes made to the Pledge Interview requirements.

5-10-2016: Bylaws updated to reflect changed made end of school year 2016. Changes include updates to duties of VPs of Fellowship and Historian, addition of a Formal Chair clause, an update to Convention reimbursement in the Standing Policy, and a change to the reimbursement policy in the Financial Policy. Elysha out!

2-2-2016: Standing Policy updated to reflect changes made to the Big/Little program made on 2-2-2016.

1-3-2016: Bylaws updated to reflect changes made Fall 2015.

10-20-2015: Bylaws changed to reflect edition of the Code of Conduct on 10-20-2015.

9-24-2015: Abridged Standing Policy added.

9-23-2015: Bylaws changed to reflect approval of changes from 9-22-2015.

7-13-2015: Abridged Bylaws are complete.

7-6-2015: Website goes live to the chapter! Some pages are still incomplete.