A sorority treasurer is the financial guardian of her chapter and holds one of the three most vital positions, along with the president and vice president. A sorority chapter can function properly only when the treasurer is successful in balancing a semesterly or annual budget, as well as collecting and managing membership dues, fees, alumnae donations, philanthropy funds and more.
A sorority’s chapter treasurer may be tasked with managing tens of thousands of dollars or more, though the amount will vary based on chapter size and other factors.
As the central hub of knowledge for all financial matters within the chapter, the sorority treasurer must understand both her own duties and those of all the other officers. This is because no other officer or sister can function in her duties without the proper management and distribution of chapter finances.
While a sorority treasurer’s role has evolved in the modern era of internet communication, made somewhat easier by the use of sorority software, the human element of the sorority treasurer position is a vital component of the chapter’s hierarchy.
A sorority treasurer’s duties may include: consulting with chapter officers and other sorority officials to balance and finalize a budget; maintaining that budget throughout her term and adjusting when necessary; ensuring membership dues and other fees are collected, and that all members, parents, university officials and sorority officials are properly informed regarding financial responsibilities and the state of the budget; ensuring proper payment of fees, taxes, utilities, and other outstanding balances by the chapter; training the incoming treasurer when her term ends; and following all additional duties outlined in the chapter’s guidelines.
Let’s take a closer look at the Sorority Treasurer and Her Duties.
A sorority treasurer’s job performance depends on her being fully trained, if possible 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 and generally understand 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.
Additionally, 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.
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 must be documented, and any check used must be signed by 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 is not required to be an expert in financial matters. Though it would aid her in her duties, she doesn’t have to be currently 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 from 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 must be removed as members of the chapter. 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.
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, offering sisters and their parents an easy online payment method and more.
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 premier 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.