My Fraternity Ran Out of Money Halfway Through the Semester

My chapter started off the semester strong financially; until about two weeks ago when we were notified by our treasurer that we ran out of the majority of our budget due to outside expenses (which we still have yet to figure out). I am the sorority relations chairman of my chapter and I still want to plan mixers with sororities, give gifts to sororities for their founder’s days and contribute to our Parent’s Weekend and homecoming success. But it’s hard to do that using the limited chapter funds that we have right now. Are there ways to successfully meet these goals on a shoestring budget?

Answer:


Let me share two secrets with you.

1 – The most fun I have had in my entire life was when I was dead broke.

2 – It doesn’t matter how much money I have, it still isn’t enough to do everything I want to do.

What does this mean?

You don’t need money to have a good time.  Get creative with your events and gifts.  You can give a sorority a present, or you can have the entire chapter show up on their doorstep to serenade them.  You should be able to figure out which one will make more of an impression.

If you really need cash for events – fundraise.  This actually works as a great motivator to get brothers willing to participate.  There are a million great ideas for fundraisers.  Check out these two great resources:

Fraternity Fundraising Ideas

How to Fundraise $40,000 for Your Fraternity – The Fraternity Leader – How to Make Your Fraternity the Best on Campus

The bigger issue you have is why are you out of money with two months of the semester to go?  That you don’t know why is a pretty severe issue.  Here are questions I’d want to know if I were you:

1 – Where did the money go?

2 – What was the budget and why was that not followed?

3 – Has the treasurer been removed from office?

4 – What was the president’s role?  Either he was part of the problem or negligent – both are causes for serious concern.

5 – Is the chapter advisor aware of the problem?

You have a very serious leadership issue on your hands that needs to be addressed immediately.  You start by getting the answers to these questions.

This question was submitted by one of our readers. If you have a question you want me to answer go here to submit it: Fraternity Advice.






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