Treasurer

Chapter Treasurers are expected to maintain accurate financial records for the chapter, including paying all bills and collecting dues, fines and other fees. In order to manage the many accounts in the chapter’s operation, the treasurer should meet each semester with the Karen Seezen in the Office of Greek Life to review the chapters’ financial standing with the University. Successful chapters work diligently at maintaining a zero balance due with the University or make strides to reduce any debt to the University.

Agency Accounts are established for each student group upon registering as an organization for the first time. Campus organizations with the exception of Fraternities and Sororities are prohibited from establishing off campus bank accounts and all of their fund flow through this account. AcFee grants are deposited into this account. Strict guidelines apply to the use of AcFee funds and can be found in the Student Organization Manual HERE. These accounts are commonly used for reserving space on campus, ordering equipment from Plant Operations, paying for third party security at fraternity parties, bulk mailing, postage, copies. Groups receiving AcFee allocations often use this account to pay for expenses related to programming.

Regardless of the source of funding, expenses can be paid following the guidelines set out in the Financial Guidelines section of the Student Organization Manual found HERE. Briefly, any outside vendor must furnish an invoice two weeks in advance in order to be paid by the date of the event. The invoice must include the name, address, SSN or tax-id number, date of service, description of service and amount due as well as a copy of the vendors most recent w-9 form. If any of this information is missing, payment could be delayed. Students who wish to be reimbursed for purchases should know that Vanderbilt will no longer reimburse students for sales tax paid; however, a form may be obtained in the Office of Greek Life which can be given to the vendor and no sales tax will be due. Other methods to purchase supplies are outlined in the Student Organization Manual in the Financial Guidelines section at the link above.

There are several inexpensive and easy to use budgeting and bookkeeping tools available to the chapter treasurer such as Quicken and QuickBooks. Chapter Advisors and the Advisory teams are available to most chapters to assist and advise treasurers. Of course, Karen Seezen in the Office of Greek Life is always willing to answer any questions about financial matters especially pertaining to the payment of vendors and to facility management.