The Vice President of Finance is the chief financial officer.  Chapter finances are the number one reason for chapter decline.  Poor financial practices and controls create a slippery slope.  The Vice President of Finance must champion a chapter budget, effective collection methods, and appropriate reporting to the chapter, Alumni and Volunteer Corporation, Headquarters, and the Internal Revenue Service.  He reports to the Executive Committee, the Alumni and Volunteer Corporation, and should meet regularly with the Vice President of Financial Operations of the Alumni and Volunteer Corporation and the Chapter Counselor. 

As the chapter’s Vice President of Finance, you have several vital functions: 

q Budgeting — Ensuring each officer has a working budget and sticks to it.

q Financial Controls — A receipt for every dollar spent, every dollar received, and appropriate measures for financial security in place.

q Collections — Brotherhood has a price.

q Reporting — Your chapter, Alumni and Volunteer Corporation, and your Headquarters staff need to know what’s going on to best help you succeed, and don’t forget the IRS.

q Recruitment — How to position financial commitment to potential members.

q Develop solid financial controls and accountabilities

q Develop skills around chapter budgeting, reporting, and accounting software

q Gain commitment for long-term chapter savings

q Share/learn best practices in financial stability

q Recruitment expenses, Balanced Man Scholarship, fund-raising successes