Effective Management for Chapters and Councils

Presenters:Keri Mohrbach and Allison CoffmanThe University of Toledo

Defining your IncomeWhere is your money coming from?

Prioritizing your ExpensesWhat is most important to your

chapter/council?How have you historically spent your money?

Evaluating your SpendingOngoing and flexible

Qfinance Definition: the comparison of actual financial results with the estimated expenditures and revenues for the given time period of a budget and the taking of corrective action as necessary

WHAT??Allocating your income to effectively cover your

expensesAccountabilityTransparencyTimeliness

Defining whose in chargeWho has final say of spending

Holding your members to responsible spendingApproval to purchase and Documentation of

purchaseSample Worksheet

Ensuring your transparencyCan anyone, at anytime understand where your

money is going

Keeping your chapter/council members informedBi-weekly reconciling with chapter VP Finance Monthly updates (council)

Sample Form

If you gave out a loan, how quickly would you ask for payment before getting annoyed?

Give those on your account the access they needAll members/advisers on your accounts should

have the ability to pay bills Where is your checkbook located?

Excel TemplateChronological order of expenses - DETAILS

BudgetTracker.comKeeping everyone updated on budget

BillHighway/Online bill payEasing the bill paying process

Evaluate where you are at right nowWhat do you need to focus on most?What tools exist to help you?

Set realistic goals for your termWhat can you accomplish in the short-term?What goals will take longer and need buy from

your chapter/council?

What are your first steps?Write down the first thing you want to do when

you get back to campus