Chapter Budgeting and Financial Planning
Making Chapter Financial Decisions
When considering any new financial transactions for their chapter, the Board of Directions should keep the following questions in mind:
- How does the proposed transaction further the chapter’s mission and vision?
- Is the proposal consistent with the chapter’s articles of incorporation, bylaws, and state laws?
- Is the proposal consistent with the national organization’s mission, vision, and bylaws?
- Has the chapter considered other reasonable options for achieving the goals to be met by the transaction?
- Have outside advisors been consulted if necessary?
- Is there a proper structure in place to allow for an informed decision?
- Will the transaction give control of chapter funds to outside bodies?
- Are there any restricted gift to or fundraising implications?
- Has the Board examined all possible conflicts of interest?
- Is the Board confident that the transaction terms are the fairest possible?