|Chapter Accounting Standards|
Chapter presidents who served as delegates to the 171st General Convention tasked General Fraternity leaders to research and recommend to the Board of Trustees a refined and straightforward approach to chapter finances that would aid chapters with:
With that charge in mind, as well as the additional goals of:
…the Board of Trustees recently voted to adopt uniform Chapter Accounting Standards and approve three options for chapter financial management and accounting:
In 2013, after seeing the compliance rates of each CAS option, the Board of Trustees modified the options to only allow chapters in the future to select the Billhighway or accounting professional options while allowing compliant self-reporting chapters to continue to prove their compliance. Furthermore, in order to better assist Billhighway chapters, the Billhighway Gold and Platinum service levels were created. These programs can assist those chapters or house corporations that would benefit from additional coaching, support and automated processes.
While Beta chapters are free to choose which method best suits their needs, the Fraternity strongly encourages chapters to partner with Billhighway, the Fraternity’s official chapter-accounting partner. Chapters that use Billhighway enjoy full integration with Administrative Office member rosters, access to historical financial records, and annual IRS form 990 submission on the chapter’s behalf by the General Fraternity.
For more background information about the process that led up to the presentation of these three particular chapter financial management options and to learn more about Billhighway’s comprehensive set of services, features, advantages and benefits, please review this Frequently Asked Questions document.
If you’d like to speak with someone regarding the chapter accounting standards options or Billhighway, call the Administrative Office at 800.800.BETA (2382).
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