Updated: July 1, 2008
Office of Greek Life
Fraternity and Sorority
Furniture Rebate Policy
1. Chapters that operate their own kitchen and meal plan and that do not receive furniture from the University will receive an annual furniture allowance (Greek rebate) as follows:
A. $30 per resident per semester if the chapter’s term GPA for the previous semester is at or below the all men’s (for fraternities) or the all women’s (for sororities) term GPA
B. $40 per resident per semester if the chapter’s term GPA for the previous semester is above the all men’s (for fraternities) or the all women’s (for sororities) term GPA.
2. The University will establish and maintain an interest-bearing deposit account for each chapter. All Greek rebate funds will be credited to the respective deposit accounts within 30 days of the beginning of the semester. Interest will be credited to each account, based upon the balance available at October 15 and March 15 at the annual rate of 90 Day Treasury Bills current on those dates.
A. Reports on the status of each account will be generated monthly and issued to the Director of Greek Life. Once each semester, the Director of Greek Life, will issue a report to the chapter house corporation, advisor, and appropriate chapter officers.
B. With the approval of the Director of Greek Life or designee and the chapter house corporation, chapters may initiate purchase orders and check requests on account balances through the Office of Greek Life in accordance with University financial control procedures. Expenditures are restricted to house furnishings, renovations and improvements which meet fire and safety code regulations. Priority for use of rebate funds should be for renovations or furnishings before purchases of entertainment equipment.
3. Before any rebate funds are released, the chapter must:
A. provide or purchase a bed (mattress and bedframe) for each resident.
B. provide dressers/wardrobes/closets or similar items for each resident.
C. provide desks or work/study space for each resident as requested.
4. Contributions and donations may be made to the fund by chapters, individuals, alumni and house corporations. The funds contained in the deposit accounts shall be considered property of the chapter and held in trust by the University. When a chapter whose existence as a student organization has been terminated by the University or its charter revoked by the national office, funds remaining in this account will be used by the University to renovate the house for alternate use.
5. As incorporated entities, each chapter is responsible for prompt payment of all bills incurred. Because they are affiliated with Rider University, and actions of the chapter reflect on Rider University, it is expected that all chapters remain financially in good standing with all outside creditors.
A. Further, it is expected that each chapter pay all bills owed to the University within 30 days unless otherwise specified. Chapters who have an outstanding balance owed to the University will not be permitted to use Greek rebate funds until such bills are paid.
B. Greek rebate funds may not be used to pay damage bills or fines to the University.
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