- Introduction
- International Office Fees/Reimbursements
- Chapter Treasurer Reporting Responsibilities
A. Introduction
There are certain requirements which must be fulfilled by the chapter Treasurer. This Financial Reporting Guide is intended to help the chapter Treasurer fulfill his or her responsibilities.
The Oath of Office which you, the Treasurer, took upon assuming office states:
"You have the distinct honor in being elected to the position of Treasurer. Your office requires extreme accuracy and honesty. Your responsibilities cover the financial affairs of the _____ Chapter of Beta Alpha Psi. This includes preparing the operating budget, financial position forecast, monitoring cash flows, promptly recording all transactions and safeguarding the chapter’s resources. Your responsibilities also include preparing the chapter's year-end report, containing the audited financial statements and tax return for the chapter for the year"
We hope this guide assists you in carrying out your important responsibilities.
B. International Office Fees/Reimbursements
As Treasurer, you are responsible for submitting all required fees to the International Office and for requesting any allowable reimbursements.
| Description of Fees |
Amount |
| Annual Chapter Maintenance Fee (must be submitted by October 15) |
$200 |
| One Time International Candidate Fee (must be submitted within 60 days after entering candidate into Reporting Intranet) |
$55 |
| Payment Fee (per candidate, after 60 days) |
$20 |
| Certificate Fee for Honorary Initiate (who is already a member of another chapter) |
$15 |
| Replacement Certificate Fee |
$15 |
| Returned Check Fee |
$25 |
| Delivery Chargers for Supplies (other than regular mail) |
$25 |
Fees should be submitted by check to the International Office:
Beta Alpha Psi
Palladian I
220 Leigh Farm Road
Durham, NC 27707
Reimbursements
Regional Meeting Host Chapters are provided advance payments and reimbursements as outlined in the Regional Meeting Guideline Manual. All requests for reimbursement must be postmarked within 60 days of the completion of the activity.
C. Chapter Treasurer Reporting Responsibilities
Each chapter must prepare and submit an End of the Year Report by June 1. The Treasurer’s responsibilities for this report include:
- Preparing the financial statements for the fiscal year ending April 30:
- Statement of Financial Position (see Example)
- Statement of Activities (see Example)
Summaries of SFAS 116, SFAS 117 and SFAS 124 have been provided for your reference.
- If your chapter had average gross receipts (for the past three years) > $25,000, you must also download the IRS Form 990, complete it, scan it and submit it through the Reporting Intranet.
- If your chapter had gross receipts > $100,000 for the past year, you must also attach an auditor’s report. You can attach either a report from an independent audit or an internal audit report.
The information above should be given to the Reporter to enter into the Reporting Intranet.
