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Bylaws:article_6

Article 6 (Finance Committee)

6.1 (Committee Members)

The chapter advisor, president, internal vice president, external vice president, treasurer, and assistant treasurer(s) shall compose the finance committee.

6.2 (Chairman)

The treasurer shall serve as the chairman of the finance committee and shall have no vote.

6.3 (Assistant Treasurers)

A minimum of one assistant treasurer shall be elected annually, at the first regular meeting after January 1st. The assistant treasurer(s) shall hold their position for one calendar year and shall have no vote on the finance committee.

6.4 (Responsibilities)

It shall be the duty of the finance committee to:

6.4.1 (Meetings)

Hold meetings twice a month and to keep a record of its proceedings.

6.4.2 (Budget)

Establish the chapter budget and enforce any regulations regarding finances.

6.4.3 (Audit)

Conduct a monthly audit of the Treasurer’s records.

6.4.4 (Billing & Credit)

See that all bills and charges against the chapter are paid promptly and maintain a sound credit rating for the chapter.

6.4.5 (Assessments)

Levy and collect special assessments.

6.4.6 (Monthly report)

Require that the Treasurer report the current financial position to the chapter at least monthly.

6.5 (Committee Power)

The finance committee shall have the power to:

6.5.1

Authorize the collection, distribution, and expenditure of all chapter funds.

6.5.2

Require reports on finance from the Treasurer, and reports from the Food committee and House and Grounds committee at regular intervals.

6.5.3

Employ and discharge all salaried employees and determine their compensation.

6.5.4

Authorize extra-budget expenditures of the chapter, and to make all necessary and proper adjustments of the budget.

6.5.5

Require that all financial reports be kept current and in an efficient manner.

6.5.6

Initiate proceedings for suspension or expulsion against financially delinquent members by use of the 1-10-15-30 rule. This states that bills will be out on the 1st, due on the 10th with 10% fine if late. Any member still delinquent on the 15th will be brought up for suspension at the next chapter, and any member still delinquent on the 30th will be brought up for expulsion from the fraternity.

6.5.7

Require all purchases made with a house card, including but not limited to, Walmart, Lowe’s, or debit, be approved by a member of the finance committee and that said purchases be reported to the Treasurer within 24 hours of the purchase date.

6.6 (Appeal to Committee)

Any action of the finance committee may be appealed by filing a written request with the executive committee within one week of the financial committee’s action. The appeal should contain a brief summary of the reason for the appeal. At the next regular chapter meeting, the finance committee chairman shall present the finance committee’s reason for the action. The defendant shall then present his reasons for wishing to appeal the decision. Each shall be limited to five minutes. There shall be no debate. A three-fourths vote is necessary for the appeal to be successful. All voting shall be done via secret ballot.

6.7 (Petition Defense)

Any person who submits a petition to the finance committee has the right to defend his petition in person at the next finance committee meeting after the submission of said petition.

6.8 (Override)

If due process as prescribed in the previous by-laws is not followed, the appeal or petition is automatically approved.