We used to have fines for everything...from missing rush events to meetings to service projects. Then our national devised a system in which you have to do so many items in a year. If you follow the program and complete your requirements, you're fine. If not, then you are brought up before standards board. Standards board usually will put some punishment on the person who isn't meeting their obligations, such as no mixers for a month or if it's really hideous, no formal. Social restrictions seem to work for a lot of chapters. Fining works only if people care enough to pay it...and when they don't, the fines will pile up to the hundreds of dollars and that person will leave owing you money.
If your national doesn't have a program like ours, you can implement a points system that works in the same way. This way, you reward those who are coming. Those who don't earn enough points in a semester go to standards and punishments handed down. I know punishments is the wrong word, but you get the jist. This has worked for some people as well.
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