We used a point system on a fine basis. Things were worth varying points depending on how important of an event it is. Example. Chapter is 3pts and initiation is 10. Each point is worth $10. Fines were assessed at the end of the semester, and if you had more X dollars in fines, you lost socials for the next semester + had to pay the fines. There would be opportunities during the semester to earn bonus points, and you could be excused from events without penalty depending on the circumstance. One point about this though since it involves fines, a list of fineable events should be given out at the beginning. If something needs to be added during the semester, it needs to be announced enough ahead of time so people can prepare. You do not want it to get to the point where events are announced at chapter on wed and they are on Thursday. This worked pretty well, because girls just couldn't miss everything and get daddy to take care of it. The other key to this system is a strong disciplinary system that will stand behind the system.
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