====== Nu Chapter Finance Policy ======
===== Section 1: Duties of the Treasurer =====
  1. Duties of the Treasurer
    - To collect and receive all funds due the Fraternity.
    - To disburse funds as the Fraternity designates
    - To maintain accurate records of all financial activities and render a report from them whenever called upon by the President.
    - To present all financial records to the Executive Committee for auditing one (1) week before the expiration of the term of office.
    - To supply the Brotherhood with a written report of the funds at the end of each semester.
    - To supply the Brotherhood with a Balance of the Bank Account and Cash Box at every meeting.
    - To serve as Chapter Representative on the National Finance Committee (NFC)
===== Section 2: Financial Records =====
  2. Financial Records
    - The records shall consist of:
      - Bank Account balance(s)
      - Cash Box
      - Statements of disbursements and received payments
    - When called upon the Treasurer shall submit Nu Chapter's financial records to:
      - The President
      - The Brotherhood
      - The National Treasurer
      - The Chief Financial Officer
===== Section 3. Nu Chapter Budget =====
  3. Nu Chapter Budget
    - The Treasurer shall solicit budget requests from all committees within one week of committees being established.
    - The Treasurer shall present a semester budget to the Fraternity for approval at the meeting following the deadline for budget requests.
      - Objections with discussed reason shall be overturned by a WOTB vote
      - Objected budgets shall be brought back to the Treasurer and re-evaluated. Re-submission and approval shall be at the following meeting.
    - The outline for the budget being created should reflect the outcome of the semester prior as well as the current fiscal situation of the Fraternity.
===== Section 4: Dues =====
  4. Dues
    - Dues shall be collected by the Treasurer and notated in the financial ledger of the Fraternity.
    - National dues shall be dictated by the National organization.
    - Local dues shall be twenty ($20) per semester
    - The Treasurer shall be responsible for sending Dues and the Roster to the National Organization by the national deadline for dues every semester
    - Any Brother who does not pay dues by the national deadline shall be automatically placed on Forced Inactive Status, unless they have established a payment plan in accordance with Section 5
===== Section 5: Payment Plans =====
  5. Payment Plans
    - Payment plans for national dues shall be established by the date determined by the Treasurer.
    - Payment plans for dues shall be fulfilled by the end of the agreed upon date determined by the Brother and the Treasurer.
    - Payment plans shall only be contracted, using the form in Appendix A, between the Fraternity, with the Treasurer acting as the Fraternity's representative, and the Brother in need of assistance.
    - Any Brother who defaults on their payment shall automatically be placed on Inactive status until the conclusion of the semester after the contract.
    - The Treasurer shall have the power to decline any attempts at payment plans if he/she determines that the financial health of the Fraternity cannot support payment plans.
    - The Treasurer shall have the power to decline any payment plan(s) with Brother(s) who have previously defaulted on their dues.
    - Any Brother who has been denied a payment plan may bring the decision to the Brotherhood for review.
      - The vote required to overturn the decision shall be a simple majority vote.
===== Section 6: Reimbursements =====
  6. Reimbursements
    - Reimbursements for budgeted items require that receipts are to be submitted to the Treasurer, Historian and a copy for the party's personal records
    - Reimbursement requests for non-budgeted items require:
      - The requesting party must request payment from the Brotherhood.
      - To allow payment for a non-budgeted item the party must ask for a Will of the Brotherhood vote.
      - Receipts to be submitted to the Treasurer, Historian, as well as a copy kept for the party's personal records
===== Section 7: Debit Card =====
  7. Debit Card
    - The Debit Card shall be in the name associated with the bank account.
    - Purchases must be for the Fraternity only and have a WOTB vote and Advisor approval before every use.
    - Ideal uses for the card:
      - Large orders of swag, Chapter shirts, etc.
      - Fraternity supplies for current Brothers, repairs for Fraternity items, etc.
      - Deposit for Formal (Social) Location
    - Money may be deposited through the ATM with receipt proof.
===== Section 8: Fiscal Year =====
  8. Fiscal Year
    - The fiscal year for Mu Beta Psi, National Honorary Musical Fraternity shall begin on July 1 and end June 30.
===== Section 9: Amendments and Will of the Brotherhood =====
  9. Amendments and Will of the Brotherhood
    - This Policy may be amended by a Will of the Brotherhood vote (3/4).
    - Suggested review by the Chapter Treasurer every semester.
===== Section 10: Fundraising =====




> Last Revision submitted by Jackie Shikora and approved on February 7, 2016