All chapters are required to use Greekbill for chapter finances, unless approved with an exemption to use a University Bursar Office. Once the candidates are added into mySam, it is important for your Exchequer to also make sure they have been added to your Greekbill Roster (this should happen automatically but always good to double check). For the few chapters who still bill through their Bursar, it is extremely important that the Exchequer gets them added into that system ASAP.

It is extremely important that the Exchequer is at the first candidate meeting to discuss finances and due dates with the candidates. The Exchequer needs to send out the billings to your candidates after that first meeting in order for the chapter to collect the required funds to meet important deadlines. Below are the minimum costs that the chapter has to pay for candidates to headquarters, however, your chapter can charge more than these minimums to assist with your chapter operations.

At a minimum, it cost $496 dollars to become a member of Sigma Alpha Mu. Here is the breakdown of these costs that the chapter needs to collect from the candidates.

• Candidate Dues: $95
• Initiation Fees: $380
• GreekBill Fees: $21

Candidate Dues get billed to the chapter once the candidates are added into mySam. The Exchequer will see an invoice in the Chapter Statement tile in mySam. Candidate Dues need paid to HQ within 30 days. IF YOU HAVE A CANDIDATE DROP from the process within the first two weeks of the candidate process, his status needs to be updated to “depledged” on your roster and the Headquarters will credit the chapter back his $95 candidate dues. If it is after that two-week timeframe, there will not be a reimbursement. Therefore, it is encouraged that your chapter collects at least the $95 from each of your candidates by the end of week two, that way the chapter is not out the $95 if a candidate drops after that reimbursement deadline.

Initiation Fees have to be paid for a candidate to be initiated. It is extremely important that the chapter collects this and is prepared to pay Headquarters two weeks before the scheduled initiation. If a chapter initiates members before paying Headquarters for the initiation fee, that is considered an illegal initiation and a 10% surcharge is added to the invoice. Once the Initiate Request is submitted (review the video in this training) an invoice is automatically created and the chapter can make that payment by clicking on the Chapter Statement tile in mySam.

Greekbill charges chapters $21 service for all members on the roster each semester, including your candidates. So it is important that your chapter builds that into what you are collecting from each candidate.

If you have questions about finances or making payments, please consult with your HQ Chapter Coach.