The Fraternity Advisor

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Your fraternity budget is probably $20,000 a year minimum. Because this figure is so high, your fraternity is doing your brothers a disservice if you aren’t treating your treasurer’s responsibilities as a business.

Chances are, you have a brother or two in your fraternity has fallen behind on their dues for a significant amount of money. These brothers have worked with the treasurer and the previous treasurers to work out a payment plan which was supposed to bring them current. However, they never seen to be catching up on their responsibilities.

Every fraternity believes that their alumni have deep pockets and will help the chapter out financially. However, most fraternities do not receive much financial support from their alumni. The reason for this is simple – fraternities don’t know how to ask.

The president has a fiduciary responsibility to the brotherhood. He must serve as the checks and balance on all financial affairs. This is a critically important function that most presidents overlook.

Every fraternity pledge class should be empowered to control their own finances. Doing so will not only empower the class, it will teach them the importance of being fiscally responsible.