Making Finances Your FriendQuick Tips to Help Keep Your Chapters at the Top of their Game

Erin Morris, Client Relations Specialist

Budget & Billing

Five Areas of Focus

New Members

Outstanding Balances

Reporting

Budget Review

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01 Beginning of Semester August or January

BudgetThe keys to understanding your organization’s budgeting procedure

Cash Trends Does seasonality make sense?

Recruitment, etc.

01

Analyze BudgetAnalyze last and current fiscal years

Anything weird or out of place?

Large amounts for odd budget categories?

02

How?How much is billed?Has everyone been

billed correct amounts?

How? Who? What?

Who?Has everybody been billed?

Are members missing?

How?Appropriate items billed for?

Housing? Chapter dues? National fees?

Has the Chapter been Billed?

02 Middle of the Road September/October or February/March

New MembersDepending on when recruitment may be for different chapters, considering how to handle/account for new members is key

Billing How and where members

make payments?

Who? How much? What?

02

Updates Update chapter roster and database

01

03 End of Semester November or April

Are there any?

Yes

How much?

Are they graduating

seniors?

Identify members that are outstanding

and collect OR

Build payment plans into the next year, if

necessary

Identify members and build plan to collect based on

your organizations’ standards and

policies

Outstanding BalancesYes

No

Reporting Red Flags

Are Your Member Reimbursements High? Are there receipts for all reimbursements?

Are reimbursements made out for even amounts?

Are they being written to the same members over and over again?

Are the amounts of the reimbursement checks correct?

Reporting Red Flags

Vendor Checks Are the vendors valid?

Are there receipts for all purchases?

Are the amounts of the checks correct?

Are checks made out for even amounts?

Reporting Red Flags

Member Credits (if applicable)

Does the chapter credit member bills?

If so, is the credit valid?

Review BudgetReview reporting to ensure that it is being done properly

RecordsEnsure the Budget is Being Recorded Properly

Any weird budget categories being used?

01

BudgetExamine the Amount Budgeted vs. the Actual Amount Spent

Is the chapter over anywhere? If so, why?

02

248.273.0074 | www.billhighway.co

Questions?