sisters
by: Agreed
Require your Sorority to have a January Independent Audit of ALL finances. This will require current Sorority Officers to defend their actions or be charged with financial impropriety before they graduate in May.
An annual $500- $1 million house budget is too much trust/money to place on 20-22 year olds.... An average initial audit finds 5-10% budget improprieties. There are too many Sorority Officers wearing designer suits on a college student’s budget.
Commentby: YeahSep 5, 2014 5:06:34 PM
Tons of Greeks at Texas can afford that stuff without embezzling from their chapter. It's called being rich.
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by: HyyOct 6, 2014 12:23:13 PM
by: nopeNov 1, 2014 1:06:34 PM
by: WELL....Nov 7, 2014 4:01:20 PM
#4 by: Haha
I figure the 5-10% you imply would more likely be the result of inefficiency of running a fairly large operation with little experience than embezzlement or other intentional misuse 99% of the time. Unless you think we have Jordan Balfort Jrs. running sororities. This is fake.
#5 by: ...
Sorority dues seem to enter an ever-present black hole. Honestly, house maintenance, transportation for events, custom apparel, and fines paid to UPC can't possibly add up to an annual budget of $1 million. Where does the rest go?
Fraternities have similar annual budgets, but seem to do all of the same functions as sororities plus much, much more. At least 40-60% of most large fraternities' budgets go towards social functions (including TX-OU, build parties, performing artists, and formals). The lack of financial transparency amongst sororities is simply mind boggling.
#6 by: Agreed
Both Sororities and Fraternities should have an annual January audit by an independent firm. Any organization with an $500,000 plus annual budget should be required by its due paying members to have an annual audit. Its just good common sence.
Any Chapter Officer that is against this reasonable request should be your top suspect for improprieties.
by: You knowAug 26, 2014 8:25:37 PM
An independent audit probably isn't that cheap, and the penalty for embezzlement in the past has been charters revoked and so on. It would be a witch hunt, an additional incurred cost, and possibly a liability to the whole chapter's wellbeing in a more serious way in the case that there is impropriety.
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by: NoAug 26, 2014 8:29:26 PM
Not every chapter, especially the fraternities, has the extra money to fund an audit. That could be a crippling expense for smaller chapters and requiring it would seem pretty unfair.
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#8 by: nope
An audit usually costs less than 1/2% of the budget being audited. Most audits pay for itself several times over by finding unreasonable fees, double charging, phantum charges that are refunded back to the Chapter. Also the probable improprieties by Chapter Officers are required to be refunded as well. The probability is over 90% of making a profit for the Chapter after an audit.
The post above is probably from an Chapter Officer trying to avert an audit.
by: I thoughtAug 27, 2014 12:50:46 PM
it was a troll at first, but maybe someone's actually that delusional where they think this would be a good spot to bring this up and get it started to drive business.
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#10 by: ^Corrupt Officer^
Anyone in a Chapter House who opposes a reasonable audit of Chapter Finances is trying to hide improprieties. Most public or private organizations with an annual budget of $500,000 or more is audited to protect the organization from financial abuse and fraud.
UT should mandate an annual audit requirement for all Greek Chapter Houses. It is good for all involved except the criminal element defrauding members.
by: Nah, just not dumbAug 27, 2014 2:40:44 PM
Lol ok bro, whatever you say. There's also the fact that many of the small fraternities don't have an annual budget of $500,000. I know my chapter gets audited by our international headquarters every few years (like two I think, never was on exec), and once a year by our alumni association. If you actually knew how chapters are run, you would know that the kids don't really control that much of the money. It's predominantly alumni associations that allocate money for parties and other social events, as well as house renovations as necessary. Sorry to burst your bubble, but not every Greek chapter is corrupt like you think.
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by: How about MommiesAug 25, 2014 7:22:09 PM
and Daddies?
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