International Collegiate Finance Rules

(Finance Team Handbook – pages 4-6)

  1. Convention and The Leadership Conference Expenses
  2. Transportation expenses for the chapter’s delegate to Convention or The Leadership Conference will be reimbursed by the Fraternity for any chapter that is financially current as of May 31. The chapter must also be current with their minimum contribution to the Alpha Gamma Delta Foundation.
  3. All registration charges, room and board costs and all fees for Convention or The Leadership Conference must be remitted to International Headquarters in U.S. Currency by the specified due date.
  4. If the President does not return to school in the fall, she must reimburse the chapter and/or the Fraternity for the costs of her attendance.
  5. Chapters are encouraged to budget for the Chapter Advisor to attend Convention and/or The Leadership Conference.
  6. To maintain the Fidelity Bond, two signatures (one collegian and one advisor) are required for all financial accounts.
  7. The Fidelity Bond requires that an alumna member may serve in only one of the following offices simultaneously: Finance Advisor, House Association Treasurer, Alumnae Chapter Treasurer.
  8. Cash may not be used to make Alpha Gamma Delta chapter payments. Payments from the petty cash fund are exceptions.
  9. All chapters are required to use a duplicate receipt system. There are no exceptions.
  10. There shall be no payment to a collegiate member or alumnae member for service beyond reimbursement for out-of-pocket expenses, nor shall there be any reduction in dues and fees as a form of payment.
  11. Alpha Gamma Delta funds may not be used for the purchase of alcoholic beverages (Standing Rule 2a). No pooling of member funds may be used to purchase alcoholic beverages.
  12. A budget may not be based upon or supplemented with chapter fund raising. Funds may be raised for special projects or philanthropy. In the United States, the IRS stipulates the maximum amount a chapter may raise for chapter purposes.
  13. All collegiate chapters are required to maintain a Reserve Fund that is 10% of the operating budget.
  14. Budgeted expenditures directly from the Reserve Fund are prohibited.
  15. Any officer that overspends her budget without prior Executive Council approval is personally responsible for the overspent bill(s).
  16. No collegiate member or advisor may authorize a Payment Request Voucher for herself.
  17. A new member shall not be pledged until the New Member Fee is paid in full. Promissory Notes shall not be accepted for the New Member Fee.
  18. A new member shall not be initiated unless all payments (dues, Initiation Fee, Badge costs and applicable Property Support payments) are paid in full on or before the date of Initiation. Promissory Notes and Installment Notes shall not be accepted for these payments. If a new member terminates her pledge, property support payments and other new member fees are non-refundable.
  19. Chapter dues and/or room and board fees shall be established and maintained in the mid-range or above compared to other women’s fraternities on campus.
  1. Every initiated member (collegiate and alumna) is required to pay for the lifetime leasehold (non-refundable) on a Badge. Badges must be selected and paid for prior to Initiation. A second Badge or replacement Badge is permitted.
  2. A chapter that fails to remit fees, dues and reports to International Headquarters on time is subject to fines. Failure to meet chapter financial obligations also results in loss of chapter Good Standing and may result in chapter Probation.
  3. To be eligible for Inactive Membership for any reason, a member must be current with all fees and dues payments. Promissory Notes are not acceptable as payment to become current for the purpose of applying for Inactive Membership status.
  4. Chapters shall have a bylaw stating the number of members that may be granted Inactive Membership for financial reasons at any one time.
  5. The names of initiated members or new members in arrears must be reported and read aloud at each chapter meeting. Members in arrears are not in Good Standing and lose voice and vote.
  6. A member missing a payment one week past the due date must meet with the VPF and FA to determine her financial problem and to decide when payment will be made. Written documentation of this conference must be made.
  7. Those with past due amounts not paid by the due date shall be reported to Executive Council by the VPF in her report, along with the amount past due. Those reported as past due in payments shall either:
  8. Pay immediately.
  9. Sign a 30 day Promissory Note (if chapter is within percentage limitations) for the reported amount due while continuing to keep current with subsequent fees and dues charges.
  10. The number of Promissory Notes a chapter may have at any one time is limited to no more than five percent of the membership.
  11. If a member defaults on a Promissory Note, the original due date of the account receivable is considered for change in membership status procedures.
  12. Any collegiate member who is in arrears on her financial obligations for two consecutive months (whether she is enrolled in school or not) is subject to change in membership procedures.
  13. Resident Agreements are to be signed by both the collegiate member and her parent/guardian and returned no later than spring break for the following year.
  14. Chapters providing living accommodations in a chapter house require each resident to pay a non-interest bearing security deposit to the collegiate chapter to be held in the Reserve Fund.
  15. When a chapter house is not full, even though the membership is large enough to have accomplished this, those members living outside the chapter house shall have additional Parlor Fee such as to compensate for the room and board of those empty spaces plus a reasonable service charge for the additional bookkeeping.