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Chapter Accounting Standards PDF Print E-mail

CAS

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:

  1. Budgeting
  2. Member billing and dues collection
  3. Payables
  4. IRS compliance and reporting

With that charge in mind, as well as the additional goals of:

  1. Allowing chapters to maintain financial leadership and responsibility at the local level
  2. Honoring IRS rules and tax regulations
  3. Providing the best online accounting service provider at the lowest possible industry cost

…the Board of Trustees recently voted to adopt uniform Chapter Accounting Standards and approve three options for chapter financial management and accounting:

  1. Chapters partner with Billhighway, Beta’s new, official web-based accounting service provider
  2. Chapters arrange for an accounting professional verification of finances
  3. Chapters self-report financial statements and IRS forms (Only available for current Self-Reporting chapters that remain compliant)

Chapter Accounting Standards Options

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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