Move that Alpha Phi Omega, Kappa Chapter, shall hold the following policies
regarding its financial records and the handling of its money:
- The fiscal year shall extend from July 1st until June 30th of the
following calendar year.
- All allocations made in a session shall expire at the end of that
session unless each is explicitly extended into the following session.
- Financial Records include, but are not limited to: all receipts,
requests for reimbursement, ledgers and journals, reports of audits,
bank statements, totals from zeroing cash registers, paper tapes from
registers, check stubs, cancelled checks, and budgets.
- The Treasurer shall maintain all Financial Records for the current
and previous fiscal year. At the end of each fiscal year and following the
audit of the ledgers and journals by the appropriate persons, all records prior
to the previous year shall be turned over to the recording secretary for
- No dues-paying or advisory member of this chapter can be refused
access to the financial records of the chapter.
- Receipts shall be issued for all monies received. Receipts for cash shall be
numbered and self-duplicating.
- The Treasurer may maintain sufficient cash to cover foreseeable needs in a
- The Treasurer shall see to it that all received payments, cash and checks,
are properly deposited into chapter accounts within 48 hours of the first
following bank opening of the bank where the accounts are held.
- Receipt of checks as payment
- No check shall be accepted as payment that is not made payable to
"Alpha Phi Omega, Kappa Chapter"
- All checks received in person must have the name and address of the
account holder; the name must be the same as that on the CMU or legal photo
identification of the person bearing the check.
- All checks not received in person must be credited to the chapter's
account before any services or goods are rendered.
- If a check deposited by the chapter is returned to the chapter
for insufficient funds, the check's account owner shall be assessed a fee of
twenty five ($25) dollars plus the amount of any costs or fees incurred by
the chapter as a result of the bounced check.
- All reasonable legal means will be used to recover the money
otherwise to have been transferred by the check.
- Bounced checks from members shall be treated as any other financial
obligation of the members in question.
- Checks will not be accepted from persons or organizations that are
known to have bounced checks to us in the previous two fiscal years.
- At the discretion of the Treasurer, a check may be issued in an amount equal
to money received to be made payable according to the specifications of the
person(s) furnishing the money. The treasurer accepts the responsibility of
ensuring that the chapter's account is credited with the money in the time
specified for deposit of receipts.
- All bookkeeping shall be double entry.
- Passing On The Books
- Before the installation of a new Treasurer, both the incoming and
outgoing Treasurers shall audit and sign the ledgers and journals.
- At the end of each fiscal year, the ledgers and journals shall be
audited, signed by the treasurer and closed, except as here designated.
- Accounts Payable and Accounts Receivable shall not be so closed.
- Request Forms
- The Reimbursement Request form must clearly state all of the
following information: Name of Requester, Name on Check, Date,
Event/Allocation, Reimbursement Requested.
- Original receipts must accompany a Reimbursement Request Form for the
request to be valid.
- Cash Box
- The treasurer shall maintain manuals for the operation of cash boxes.
- Any shortfall must be made up by the person to whom the cash box
was issued. Discrepancies in excess of $5 shall be investigated and reported
to the chapter.
- The chapter shall retain Cash box surplus. Cash box surpluses in
excess of $5 shall be investigated and reported to the chapter.
- Materials for Sale
- The Executive Committee, or a person or committee appointed by the
Executive Committee, shall set selling prices.
- For tickets, coupons, vouchers, certificates, and all other similar
items, any person or organization accepting responsibility for sale of the items
shall be responsible for any shortfall due to misuse, loss, misappropriation, or
theft of items indicated from their inventory. Discrepancies shall be
investigated and reported to the chapter.
- Disposition of Chapter Equipment
- No equipment may be released from the Chapter's inventory without
consent of the chapter.
- Unless otherwise indicated by the chapter when consent to release is
given, disposal of such items shall be:
- Items worth less than ten dollars ($10) may be disposed of at
the discretion of the Sgt at Arms.
- All other items are to be sold by the treasurer at an
auction, on a date set by the chapter.
- Disposition of Chapter Supplies
- No chapter supplies may be taken for personal use, except as
- The Sergeant-at-Arms must consent to the disposal of spoiled or
- At the end of an event, the event chair may, at their discretion,
dispose of opened food that cannot be used for another event.
- Uniformed police, uniformed emergency medical, and uniformed
university maintenance personnel are eligible for free food at concessions.
- Persons actively participating in the service of the chapter
are eligible for free fountain drinks and non-pre-packaged concessions items,
as long as it does not interfere with the conduct of business.
- National Dues Paid on Member Behalf
- Dues Payments for the time period of a semester or less shall be
charged against member's chapter dues in the current semester or in the next
semester for payments occurring between semesters.
- Dues payments for period longer than a semester shall be prorated
against the chapter dues for all semesters covered by the payment.
- No member shall be required to pay more than the chapter dues
effective for the semesters in question.
- The Executive Committee is authorized to approve all contracts
to implement decisions of the chapter.
- The President or another Member designated by the Executive
Committee shall sign any contract on behalf of the chapter to indicate the
chapter's agreeing to the contract.
- On a monthly basis, the Treasurer and the President, or the President's
designee, shall audit the compliance of the financial records with the rules of
the chapter. An audit report shall be generated and submitted to the chapter
by the Treasurer in the Treasurer's usual report.
- When an allocation is expired, no further expenses may be incurred against
Move that the Chapter consider the following policies as financial policies:
Policy on Cash Registers
- The treasurer shall maintain manuals for the operations of
- Cash Register "Cash-in-drawer" (X) totals shall be taken and
reconciled with drawer contents when the register is closed or on a change of
- Complete cash register 'Z' reports will be run at the close of
each day of cash register operation. Drawer shortfalls in excess of $5/hr or 2%
of gross receipts (whichever is greater) shall be investigated and reported to
the chapter. Any shortfall greater than the allowed shall be made up by the
- Any drawer surpluses shall be retained by the chapter. Drawer
surpluses in excess of $5/hr or 2% of gross receipts (whichever is greater)
shall be investigated and retained by the chapter.
November 11, 1996
If Members wish to allocate an amount not in the Budget, or in excess
of the amount in the Budget for that item, the Treasurer shall advise the
Chapter that the amount is not covered by the budget and the effect such an
allocation will have on Chapter finances.
Composition of Budgets
November 11, 1996
The Semesterly Budget passed by the Executive Committee shall list the
total anticipated income, total anticipated expenses, and net profit or loss
for every planned project or other budget item, with individual entries for
every income greater than $1000.00, capital expense greater than $100.00, or
non-capital expense greater than $400.00.
November 11, 1996
The President and Chairman of the Advisory Committee may be allocated
discretionary funds of no more than $200.00 per Semester.
No other officer may be allocated a discretionary fund.
Once allocated, such a discretionary fund may be spent by that officer
without requiring further action by the chapter or approval of another officer.
November 11, 1996
Chapter dues shall be $10.00 per Semester.
Chapter Fundraisers (Modified)
November 11, 1996
The expenses incurred in the operation of a charity fundraiser will be
deducted from the money raised. The remainder will be donated to the charity.
"Magic Bus" and concessions projects shall be Chapter fundraisers. The
net profit from all other projects will be donated to charitable organizations.
The recipient organization(s) will be chosen by the Chapter prior to the
project and advertised as such throughout the project.
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