12/10/2019

Daily Buzz: Train Chapters on Financial Management

Keep in mind: Finances aren’t everyone’s idea of a good time

One of the challenges of chapter management is balancing the books. If you get a call that a chapter is headed toward—or already in—financial trouble, it’s time for your finance team to jump in.

“To fully understand the situation, a few calls may suffice,” writes Sarah Garrity on the BillHighway blog. “Or, you may need to get someone on the ground who can talk with the people involved. But right now, you’re in triage mode. What does the chapter need to right the ship? A loan from National?”

Start taking the steps outlined in your emergency financial plan (you do have one of those, right?). Then, roll out a financial training program for chapter staff.

“Since finances aren’t everyone’s idea of a good time, keep in mind the 3 E’s: educate, entertain, and engage,” Garrity says. “Arrange financial training for all incoming officers via a webinar, series of videos, or online learning program. Use your learning management system to track participation so you know who’s completed the training and who hasn’t. For treasurers and board members, provide training that focuses on their specific responsibilities.”

After training, make sure to stay in touch with the chapter officers and members to monitor the group’s growth.

“Regular formal and informal communication helps you gain the trust of chapter leaders,” Garrity says. “They’ll pay more attention to the training and resources you provide, and they’ll turn to you when they need help.”

Please select this link to read the original article from Associations Now.