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We were in a bad situation at the beginning of the semester because the VP Finance that we elected last November didn't make grades and we had to find someone else.
Thankfully the new VPF learned to use quickbooks recently and even discovered we have $8,000+ in accounts recievable from ex-members and alumni over the past 6-8 years. I know we'll be lucky to see any of that but we just expelled four members who owed ~$1,500, and we can't afford to let that disappear.
Plus current members not over the debt limit like waiting til the last day to pay, and that amount will vary between $1000-$2000 at any given time until the end of the month. Our current size is now 26, with 4 more graduating this semester and we're paying HQ insurance for 30 members this fall and next spring.
Just trying to give the summary of our situation. Hopefully our chapter collection rate will follow the same path ya'll's did. I'm President right now and just helping our VPF squeeze pockets and pay bills is turning my hair grey!
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