Accounts for fraternities and sororities do not operate in the same way as those for student organizations. Fraternities and sororities cannot use the on campus account to charge goods and services off campus. The accounts cannot be used in Buyway and can only be used for internal University charges. Never deposit funds into the on campus account if that money is intended for off campus purchases or donations to philanthropies. Money in these accounts can only be removed by university internal transfers. You will not be able to withdraw it in any way at a later date.

Each organization is responsible for monitoring the on campus account through the Finance Tab on the chapter’s page on The Hub. If charges are made and the balance is insufficient the account will be overdrawn. Make sure to check on a regular basis to ensure no deposit needs to be made.

No individual may obligate the funds of any chapter without the knowledge and approval of the Treasurer prior to making the transaction. A faculty or staff advisor is required for all fraternities and sororities, and this individual should be prepared to provide informed authorization on all the financial affairs of the chapter. For some University services signatory authorization of the Advisor and Treasurer may also be required. Questions/problems regarding these accounts should be addressed to the Cliff Alexander Office of Fraternity and Sorority Life.

Greek organizations will be responsible for maintaining and auditing the chapter’s own books and records.

Deposits

• Chapters will continue to maintain external deposit accounts for non-University transactions (bank, Savings and Loan, Student Credit Union, etc.).

• To make a deposit, please reach out to Elissa Christmas, christe@miamioh.edu. Make an appointment with her to borrow a deposit only ATM card to make your deposit. Follow the instructions found in the Student Organization Deposit Policy. This policy can be found under Depositing and Claiming Funds on the website of Investments and Treasury Services.

• When determining the amount that should be deposited, review the chapters’ past use of University services to estimate the amount of money needed in order to cover University charges for the coming year. Once the funds have been deposited, the treasurer will monitor the monthly balances, ensuring that when the funds drop below $0.00 another deposit is made to replenish the account. The amount of funds deposited into the account determines the financial limit of what the organization can spend. The Cliff Alexander Office of Fraternity and Sorority Life will notify the chapter if the account balance is exhausted or has moved into the negative.

Debits

• Greek Organization Accounts may be used to pay for the following University services:  
• Conference and Event Planning Services and Scheduling: room rental, technology fees, and catering for functions occurring on University property
• Physical Facilities--chair/table rental, the sign shop, trucking services, maintenance calls in sorority suites, and labor charges associated with on campus events that require PFD employees to work after hours (all services provided at this department’s discretion)
• University Police—event security (all services provided at this department’s discretion)

• To purchase goods for off-campus functions, chapters must write a check from an off-campus financial institution.

• Services not available to Greek organizations: Mail Services (Wells Hall), Central Food Stores, and the Box Office.  Accounts cannot be used to purchase goods or services for chapter or house operations.

• Failure to promptly rectify negative account balances will lead to suspension of chapter privileges on campus. Payment plans are available where needed. Contact the Fraternity and Sorority Life office for more information.

• Greek organizations cannot use their accounts to purchase alcohol.

• Information about transferring funds from fraternities and sororities to other University departments and organizations is available on the General Accounting web site. The expense transfer form must be completed, signed by the treasurer and advisor, and turned in to the General Accounting Office. For assistance with this, please contact General Accounting at 513-529-6118 or visit the office in Roudebush 107.

• Funds may be transferred from a department to a Chapter Account for the funding of University related functions only. If departmental funds given to an organization are intended for non-University purposes, the funding department must complete a check request to the chapter through Miami's Buyway purchasing system. Pending approval, a check will then be processed and mailed to the chapter. 

Other

• Since Greek organizations have chapter bank accounts as a source of cash, cash advances will not be available. Again, chapters cannot remove cash funds from these accounts once a deposit has been made.