A sorority treasurer’s job performance depends on her being fully trained by the outgoing treasurer. She needs to thoroughly read and understand the guidelines provided by her national organization regarding her duties and responsibilities. If possible, she should also read up on the duties of other chairpersons. Knowledge of the goals and duties of these offices helps her weigh their individual budgeting needs.
Working in tandem with the chapter president and other chairs, a treasurer will ensure that a budget is drawn up and finalized with the needs of each chapter chair, agreed upon chapter goals and any outstanding chapter debts met. Some chapter expenses to factor in will include insurance and taxes, housing costs, Panhellenic membership and dues to nationals. The treasurer will allocate funds and, if possible, budget for savings and potential shortcomings. Each committee will then be responsible for how their portions of the finances are managed.
During chapter meetings, a sorority treasurer will present weekly financial reports and remind sisters of due dates, payment plans and delinquencies with membership dues.
She will create a paper trail with all financial matters and ensure sisters have transparent access to the budget’s balance and upcoming expenses.
Outside the relatively fixed expenses your chapter must manage year in and year out, there are also the larger financial goals you wish to accomplish.
These are the long-term sorority financial goals you or other sisters have proposed.
Long-term budget planning could include:
One of a sorority treasurer’s most important duties is to ensure there is open, transparent, and accurate communication and reporting of all financial matters between the chapter and university officials, the housing corporation, and other authorities such as National Office, the Local and National Adviser, and the National Secretary.
The higher-ups in your sorority and college are an important voice in how your chapter budget is run. They can be an invaluable resource in helping you accomplish your goals.
Finally, the sorority treasurer may be asked to handle matters such as ordering initiation jewelry and other purchases necessary for tradition ceremonies and events.
She will be tasked with reimbursing sisters for personal funds used on chapter-related purchases, when the sister produces an approved reimbursement form and receipt. Each reimbursement should be documented, and any check used must be signed by both the treasurer and president.
If there is a chapter credit card, the treasurer must hold and manage it under the authority of the president.
The sorority treasurer never acts alone. While she wields her own authority, this authority is most effective when the treasurer works in tandem with her president.
The treasurer relies on the president to back her up in many situations, including:
The president also relies on her treasurer, such as:
The sorority treasurer is not required to be an expert in financial matters. Though it would aid her in her duties, she doesn’t have to currently be studying in a degree field involving finance. She is not solely responsible for the chapter finances, deficits, and surpluses.
Holding the office of treasurer doesn’t mean pulling a chapter out of debt and delinquency by herself. If sisters do not or cannot pay their dues, despite constant warnings and penalties, it’s not the treasurer’s fault if these sisters lose good standing as members of the chapter.
Budgeting is generational. Fixing long-term debt over the course of a single term is not among a treasurer’s goals or duties.
The sorority treasurer does not act alone in determining the chapter finances. She works together with other chapter officers and advisors, and follows a set of detailed regulations.
The sorority treasurer cannot legally force a sister to pay.
She must simply do her duty in sending reminders of outstanding debts, following disciplinary guidelines and, if necessary, suggesting financial recourse through a collections agency or writing off sisters’ dues.
A sorority treasurer above all else never acts alone, and cannot succeed without the support of her sisters, alumnae, national organization and university.
It’s becoming less and less common for a sorority chapter and its treasurer to approach annual or semesterly budgeting without the use of budgeting software, such as OmegaFi’s Vault.
The concept of budgeting software for sororities is that an electronic, internet-based, all-in-one interface can replace and enhance older methods of drawing up and managing a sorority chapter’s budget.
Software can enhance budgeting by offering centralized access to the budget and individual outstanding debts, sending delinquency reminders and other financial communications, simplifying bank transactions, and offering sisters and their parents an easy online payment method.
Sorority budgeting software can make the transition from one treasurer to the next easier. It also gives your national organization a broad-picture idea of your chapter’s financials. It does this by maintaining a constant and up-to-date database over the entire time a chapter uses this software. As a piece of premier budgeting software, Vault also offers access to professional financial advisors who can guide a sorority through the process of chapter budgeting.
Representing her sisterhood’s letters is a sorority treasurer’s number-one duty. She must be an upstanding member of her community, her university and her sorority. She must be strong in moral character and show her sisters respect at all times.
She must perform the duties of her office professionally and to the best of her ability. A sorority treasurer faces many challenges during her term, but she is not alone. Help is available.
Learn more about how OmegaFi is dedicated to helping sorority treasurers perform their duties to the fullest.
