You may have assumed that the president’s office was most important, but how wrong you are. Although the president is responsible for maintaining control and organization, the treasurer must manage the financial affairs of the chapter. The success of the chapter depends on your ability to manage its funds. Intimidating, isn’t it? If you have had the chance to be an assistant treasurer, you have gained some experience in handling budgets and accounts receivable, and in writing reports. If not, you should seek advice from your advisor or house corporation.
First and foremost, you must realize the importance of always reviewing the current financial condition of the chapter. If your chapter is in the red zone, then you need to determine why. Many times a deficiency of funds may be due to several different problems: perhaps unpaid balances, overspending of committee funds, or a decrease in membership all had something to do with the deficiency. Once you’ve determined the nature of the problem, you and your assistants will be able to revise the budget to bring your accounts back into balance.
- Responsible for all financial obligations and transactions of the chapter
- Serve as chairman of the finance committee
- Maintain the financial records of the chapter
- Responsible for preparing the annual budget
- Complete the monthly financial report (MFR)
- Arrange for a financial review of the chapter’s financial records
- Serve as a member of the Executive Committee