Article IV: Finances
A. Financial matters of Alpha Omega Chapter are in accordance with the Constitution, International Standing Rules and the Eta State Organization Bylaws.

B. Alpha Omega Chapter shall maintain four funds. (Assessments [or fees] for State and International scholarships and World Fellowship are set amounts included in the chapter members' dues.)

1. The available fund shall be for chapter operations and shall require a budget.
2. The permanent fund, developed from savings over time, may be used for chapter needs and activities with the approval of the Finance Committee and the authorization of the Executive Board.
3. The awards fund, which includes grants-in-aids, comes from the chapter members' and guests'  dollar donations made at the December meeting as well as monies raised from Educational Awards Committee activities.
4. The social fund is petty cash maintained by the treasurer to meet immediate needs related to the chapter meetings.

         a. Petty cash is derived from the $1.00 social fee paid by members at each meeting.
         b. Amounts in excess of $50.00 shall be given to and deposited by the treasurer into the chapter available fund.

C. Alpha Omega receives dues as well as income from other sources.

1. Annual dues shall be required of active and reserve members of the chapter. Said dues shall be $72.00 for active members and $30.00 for reserve members. A lifetime fee of $50.00 for the international publications shall be paid for each honorary member at the time of the initiation. This fee shall be paid by the initiating unit of the Society.

    2.  Chapter dues are controlled by Alpha Omega Chapter shall be determined annually by chapter vote no later than the May meeting of the fiscal                year.
    3.  Alpha Omega Chapter members may vote to pay an amount in addition to dues and fees for the support of a chapter or state organization project.
    4.  All new members [except those entering with honorary status] shall pay, in addition to their dues. a $10.00 initiation fee of which $5.00 is retained            by the chapter, $2.50 is sent to the state, and $2.50 is sent to International.
    5.  Dues can be paid any time between the March meeting and May 15th.
    6.  Options for payment of dues for the upcoming fiscal year are to pay in two installments in February and May or to pay three installments in March,                  April and May. The treasurer shall notify the chapter president of the members who have not paid their dues before the regular May meeting is held.
    7.  If dues are not paid by May 31st, the treasurer must drop the nonpaying member from the chapter roll.
    8.  The nonpaying member shall be notified in writing by the chapter president on behalf of the Executive Board that she has been dropped as a result          of non-payment of due and fees.

D. The treasurer manages expenditures and disbursements according to policies.

1. Annual chapter, state and international dues and fees shall be collected by the chapter treasurer by May 15th and forwarded to the state treasurer by May 31st.
2. All chapter expenses shall be approved by the president.
3. The treasurer shall pay all outstanding chapter bills submitted with an invoice or receipt containing the name of the purchaser and the purpose of the expenditure.
4. The treasurer is responsible for disbursing awards funds.
5. The treasurer, after receiving appropriate records, pays expenditures incurred by the chapter president for state, regional, or international meetings.
6. The treasurer, as funds are available, pays full or partial expenses of other officers and members for state, regional, or international meetings.

    7.  The treasurer shall pay for gifts purchased within the following guidelines:
         a. One red rose is sent to the family of a deceased member.
         b. One red rose is sent to the member at the death of a spouse, a child, or a member's mother or father.
         c. One red rose is sent to a member who is hospitalized; a card is sent if a member is confined at home with an illness.
         d. Each retiree will receive a gift purchased by the chapter.
         e. A guest speaker is given a gift representative of the time and place of presentation.
   8.  The outgoing chapter president will present the honorary president's pin [given by Peggy Koonce] to the incoming president. The treasurer shall             order the outgoing president a president's pin at the chapter's expense.
   9.  Special recognition of a member's death shall be financed by the chapter dues for up to 2-3 family members of the deceased.
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E. The treasurer makes chapter, state, and international reports as well as IRS reports.

1. The treasurer is responsible for presenting a current financial report at each Executive Board meeting, regular chapter meeting and in the chapter newsletter.
2. The treasurer is responsible for the required reports to state and international headquarters respecting the fiscal year of the Society, July 1st to June 30th inclusively.

​Updated: August 6,2019