The treasurer’s responsibility is to manage honor society funds. This includes preparing the annual budget and developing or maintaining fiscal policies and procedures. The treasurer is required to present financial information to the Board of Directors at each meeting and works with the President to complete the financial section of the annual report. If there is no finance committee chair, the treasurer performs the finance committee duties as well.
The finance committee chair's responsibility is to monitor the chapter's financial procedures and status, oversee the budget process and performance, review chapter finance policies and procedures, ensure participation of the committee during the selection of an auditor and assist and oversee the treasurer as needed.
- Be custodian of the honor society funds.
- Prepare and present a current financial report to the board of directors at each meeting.
- Prepare and submit an annual budget to the board of directors with appropriate committees, advisory council, or task forces.
- Work with an accountant on a formal or informal biennial audit.
- Write checks needed for expenses.
- Develop and maintain fiscal policies and procedures in collaboration with the appropriate committee. Submit new policies or modifications of existing policies to the board of directors for approval.
- Be bonded in an amount equal to three-fourths of the worth of the chapter.
Orientation Video - 16 minutes
Developing the honor society's first budget
Setting Up the Honor Society Bank Account
Policies and Procedures Template Coming Soon!!