1. Duties of the Treasurer

   1. To collect and receive all funds due the Fraternity.
   2. To disburse funds as the Fraternity designates
   3. To maintain accurate records of all financial activities and render a report from them whenever called upon by the President.
   4. To present all financial records to the Executive Committee for auditing one (1) week before the expiration of the term of office.
   5. To supply the Brotherhood with a written report of the funds at the end of each semester.
   6. To supply the Brotherhood with a Balance of the Bank Account and Cash Box at every meeting.
   7. To serve as Chapter Representative on the National Finance Committee (NFC)

2. Financial Records

   1. The records shall consist of:

      1. Bank Account balance(s)
      2. Cash Box
      3. Statements of disbursements and received payments
   2. When called upon the Treasurer shall submit Nu Chapter's financial records to:

      1. The President
      2. The Brotherhood
      3. The National Treasurer
      4. The Chief Financial Officer

3. Nu Chapter Budget

   1. The Treasurer shall solicit budget requests from all committees within one week of committees being established.
   2. The Treasurer shall present a semester budget to the Fraternity for approval at the meeting following the deadline for budget requests.

      1. Objections with discussed reason shall be overturned by a WOTB vote
      2. Objected budgets shall be brought back to the Treasurer and re-evaluated. Re-submission and approval shall be at the following meeting.
   3. The outline for the budget being created should reflect the outcome of the semester prior as well as the current fiscal situation of the Fraternity.

4. Dues

   1. Dues shall be collected by the Treasurer and notated in the financial ledger of the Fraternity.
   2. National dues shall be dictated by the National organization.
   3. Local dues shall be twenty ($20) per semester
   4. The Treasurer shall be responsible for sending Dues and the Roster to the National Organization by the national deadline for dues every semester
   5. Any Brother who does not pay dues by the national deadline shall be automatically placed on Forced Inactive Status, unless they have established a payment plan in accordance with Section 5

5. Payment Plans

   1. Payment plans for national dues shall be established by the date determined by the Treasurer.
   2. Payment plans for dues shall be fulfilled by the end of the agreed upon date determined by the Brother and the Treasurer.
   3. Payment plans shall only be contracted, using the form in Appendix A, between the Fraternity, with the Treasurer acting as the Fraternity's representative, and the Brother in need of assistance.
   4. Any Brother who defaults on their payment shall automatically be placed on Inactive status until the conclusion of the semester after the contract.
   5. The Treasurer shall have the power to decline any attempts at payment plans if he/she determines that the financial health of the Fraternity cannot support payment plans.
   6. The Treasurer shall have the power to decline any payment plan(s) with Brother(s) who have previously defaulted on their dues.
   7. Any Brother who has been denied a payment plan may bring the decision to the Brotherhood for review.

      1. The vote required to overturn the decision shall be a simple majority vote.

6. Reimbursements

   1. Reimbursements for budgeted items require that receipts are to be submitted to the Treasurer, Historian and a copy for the party's personal records
   2. Reimbursement requests for non-budgeted items require:

      1. The requesting party must request payment from the Brotherhood.
      2. To allow payment for a non-budgeted item the party must ask for a Will of the Brotherhood vote.
      3. Receipts to be submitted to the Treasurer, Historian, as well as a copy kept for the party's personal records

7. Debit Card

   1. The Debit Card shall be in the name associated with the bank account.
   2. Purchases must be for the Fraternity only and have a WOTB vote and Advisor approval before every use.
   3. Ideal uses for the card:

      1. Large orders of swag, Chapter shirts, etc.
      2. Fraternity supplies for current Brothers, repairs for Fraternity items, etc.
      3. Deposit for Formal (Social) Location
   4. Money may be deposited through the ATM with receipt proof.

8. Fiscal Year

   1. The fiscal year for Mu Beta Psi, National Honorary Musical Fraternity shall begin on July 1 and end June 30.

9. Amendments and Will of the Brotherhood

   1. This Policy may be amended by a Will of the Brotherhood vote (3/4).
   2. Suggested review by the Chapter Treasurer every semester.

Last Revision submitted by Jackie Shikora and approved on February 7, 2016