1. Polices and Procedures
FINANCIAL OPERATIONS
Polices and Procedures
Soror Robin G. McCoy, Tamiouchos

2. RESPONSIBILITIES OF OFFICERS AND COMMITTEE CHAIRMEN
Each committee chairman will prepare a proposed budget for its activities. Budget request must be submitted to the Chairman of the Finance Committee by August in order to have a line item in the budget for the following year.
Any requests for new line items or an increase in existing line items after the budget request has been submitted in August shall first be submitted to the Executive {Committee} for approval and then to the Finance Committee and then to the Chapter.
The chairman has ultimate responsibility for ensuring that a record of all income and expenses is maintained for each event.
Taken from SOPs CHAPTER 2 - Financial Operating Procedures

3. RESPONSIBILITIES OF OFFICERS AND COMMITTEE CHAIRMEN (Con’t)
The chairman must obtain written approval from the Basileus prior to obligating any funds of $ or more.
The chairmen will sign all vouchers for reimbursement or payment and submit to the Basileus for approval.
Within thirty (30) days of an event, the committee chairman must submit financial accounting of all funds (income and expenses—paid and unpaid), including all outstanding vouchers.
Taken from SOPs CHAPTER 2 - Financial Operating Procedures

4. CHAPTER DUES AND ASSESSMENTS
Dues for Operations $155.00
Per Capita
EAF Assessment
Building Fund Assessment
IFNV Admin. Assessment
TOTAL $320.00
Life Members $195.00
Returned Check Fee - $25.00
CHAPTER DUES AND ASSESSMENTS

5. Exercise Due Diligence Each chapter member has entrusted you with a portion of her dues to efficiently and effectively implement the operations of the Chapter.

6. 2017 Chapter Budget
What is the total amount of funds that have been entrusted to your committee/office to manage for the year?
How do you plan to spend the budgeted funds? Do you have an activity plan?

7. DEVELOP Officers and COMMITTEEs budgets*
Develop A Plan!
Budget: $1,000.00
Activity A Activity B Activity C
Income $ $ $300.00
Expenses $ $ $300.00
Diff $ ($200.00) $0.00
* FOR INCLUSION IN THE CHAPTER BUDGET

8. List Your Activities! Activity A – Process checks
Activity B – Holiday party

9. Identify costs associated with the Activity
(EXPENSE BUDGET)
Activity A - Process Checks
Checks – $
Envelopes – 1 box $
Stamps – $
Budget $

10. Identify estimated costs associated with the Activity
NOTE: For larger events – identify the sub activities first and use a budget template.
Activity B - Holiday Party
Facility Rental (Site)
Decorations
Publicity
Refreshments (Food)
Program (Speakers)
Prizes (Gifts)

11. Identify (Estimate) the Revenue associated with the Activity
For larger events – use a budget template.
Activity B – Holiday Party
Estimate the number of people you expect to attend
Guides/Resources
Previous years actual attendance
Previous chairperson/committee members
Basileus

12. Profit and Loss Summary
(Zero Based Budget)

13. Track Your BudgeT Monitor Your Funds
Expenses:
Actual Total
Flyers $ $ 50.00
Refreshments $ $150.00

14. Analyze and Record Expenses: Budget Actual Diff
Flyers $ $ $0.00
Refreshments $ $ $40.00

15. Vouchers Rules - Standard Operating Procedures
All chapters’ expenditures must be authorized, either by inclusion in the chapter budget or by vote of the chapter.
All disbursements of funds will be dependent upon a completed voucher. All vouchers must have the necessary receipts, invoices and appropriate documents attached.
The committee chairman will submit completed vouchers to the Tamiouchos, individual committee members must submit their vouchers to the committee chairman.
Written approval must be obtained from the Basileus before obligating the Chapter for $ or more. This approval must be attached to the voucher when payment is requested.
All completed vouchers received by the Tamiouchos must be paid within 30 days.

16. Vouchers Review Procedures
Is the voucher package:
Complete - Does the form contain the proper signatures and supporting documentation (original receipt).
Accuracy - Is the total correct?
Validity - Is this a true chapter expense?

17. Reimbursements Not provided for:
Committee chairman purchase of gifts for committee members.
Generally, not after 60 days.
Registrations (i.e. Race for the Cure etc.)

18. Financial Tips to reduce activity costs
Check out available supplies in the ZCO storage facility.
Research prices and costs of venues
Obtain best value – 3 quotes for large expenditures (general guideline)
Partnership – Quid Pro Quo!
Government departments has booklets and pamphlets available (free of cost – Health Fair).
Find out the needs of the people you provide a service to (Doorways etc.).
Develop a rapport with the folks you provide a service to and ask them for ways you can assist.

19. Financial Liaison Representatives
Be available to provide clarity on chapter financial policies and procedures during committee meetings.
Advise and assist with:
Receipting funds for activities.
Maintaining record of income and expense for each event.
Maintaining a running account of tickets issued, paid for and returned.
Drafting committee budget.
Monitoring committee expenses

20. Questions ???

21. DATE
DESCRIPTION
RUNNING TOTAL
Budget
$ 1,000.00
2/11/2016
FLYERS – $100.00 $
3/22/2016
PROGRAM - $ $
4/29/2016
FOOD - $ $
DECORATIONS-$100.00 $