Duties and Responsibilities
- Create a budget that is both just and compromising to the needs and goals of the Executive Board for the fiscal year.
- Stay up to date with what you purchase each semester, and work with past treasurers to ensure that your budget is realistic!
- Ensure that all transactions are recorded and that you can provide explanations/statements to all expenses.
- Sit down and compare your numbers to what the bank statements say. Monthly statements might provide more security than online access methods.
- Work in conjunction with the president, as well as other Executive Board members in regards to financial needs and funding for events. Don’t think you are alone! You have other executive board members to help with ideas and responsibilities. Ask for help!
- Provide regular financial updates for chapter members.
Tips for how Budgeting and Organizing:
Budgeting:
Organization:
- Assess what resources you have to spend and prioritize what you need. The key to budgeting is to accomplish your goals without relying on future fundraisers - budget for your events based on what you already have. Your expenses should not exceed your assets.
- Don't leave fundraising off of the budget; keep track of how much you earn through the various fundraisers that you host. At the end of the semester, you can use that as a gauge for future fundraising events.
- If you don’t have a consistent fundraising event, create a fundraising committee. Sell food or other items as a chapter, or partner with another organization. Working with other organizations will create connections and allow for a larger group of volunteers to participate in the fundraiser.
- The budget is more than just a document of numbers - treat it as such! Once the budget is finalized, it becomes the law of the land.
Organization:
- When tracking your transaction history, use a ledger from Microsoft Excel or Google Sheets and have it track your balance in the account for you. You can then use this as a way to compare your bank statements.
- Keep record of all invoices and receipts for fundraisers/supplies/workshops/any chapter expenses.
- A key component to organization is communication. Explain to the executive board the chapter balance and your suggestions for spending limits. The ledger and the receipts should guide decision-making.
Sample Budget: |
Sample Ledger: |
Potential Fundraisers
- Krispy Kreme Digital Dozens: Take your fundraising online with Digital Dozens - a virtual and convenient way to raise money. Sell Original Glazed dozens virtually to friends and family, and distribute redemption codes via email. To learn more, click here.
- Sell Merch/Concessions: Summer camps, Pre-MPA, and any other community events your music of school may put on are great ways to make raise money for your chapter. Buy concessions and t-shirts in bulk and sell them for a profit!
- Restaurant Fundraisers: Reach out to local restaurants and create an event. Invite your friends and family to eat at a restaurant and take home a percentage of profits. Here are some popular restaurants that participate in these fundraisers.