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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.

Posted By: Agreed
Page 1 of 9
#1by:    
#1    

Our Chapter Officers who were average dressed while members all began wearing designer suits after taking Chapter office. Whi is paying for this...

We are...

By: Yes
by: How about Mommies   

and Daddies?

By: How about Mommies
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by: Yeah   

Tons of Greeks at Texas can afford that stuff without embezzling from their chapter. It's called being rich.

By: Yeah
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by: Hyy   

Bee BeeBpp[

By: Hyy
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by: nope   

nope

By: nope
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by: WELL....   

what???

By: WELL....
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#2by:    
#2    

Those Chapter Officers most actively opposed to an annual audit are your biggest suspects for improprieties. Annual audits bring confidence back to the Chapter.

By: ^Sorority Officer^
#3by:    
#3    

Do not feed and maybe he will go away.......

By: Trouble making troll
#4by:    
#4    

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.

By: Haha
#5by:    
#5    

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.

By: ...
#6by:    
#6    

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: Agreed

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by: You know   

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.

By: You know
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#7by:    
#7    

To protect UT students:

Lets make a University petition for all Greek Houses to require an annual January audit if all expenses.
This will protect the House and its members from fraud and other abuses.

By: How true
by: No   

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.

By: No
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#8by:    
#8    

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: nope
#9by:    
#9    

This has got to be some dude who works for an independent auditing company in Austin that is trying to drum up some business right? Or just a troll?

By: So
by: I thought   

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.

By: I thought
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#10by:    
#10    

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: ^Corrupt Officer^
by: Nah, just not dumb   

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.

By: Nah, just not dumb
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