Though it is only February, we have already had a busy start to the year. Chapters have been submitting the required documents for the second set of rebate requirements (due January 15), we’ve begun to schedule one-on-one calls with chapter leadership, and we introduced two additional policies related to financial management. The new policies will be a big change for our chapters, but also come with many benefits. We recently held a webinar on Tuesday, January 30 to discuss the policies in detail and the next steps along with the benefits of this new program. Learn more about the benefits of this program below.
Policy 1 - Chapters were provided with a financial reporting template that will need to be submitted twice a year as part of the rebate requirements.
As chapters began to use the new financial reporting template, they’ll notice the benefits of the document. The reporting template supports chapter’s recordkeeping practices by including all their financials on one, easy to use document which ensures accountability, transparency, sustainability, and overall financial well-being of the chapter. To learn more about the template or how to use it, please view this webinar here.
Policy 2 - Chapters will transfer all financial accounts to the ANFP-approved online financial platform, Crowded.
One of the newly announced policies involves chapters moving their funds to our new banking platform, Crowded, which is designed for organizations like ANFP that have several chapters. Once chapters make the transition to the new platform, they will find there are many benefits including the easing of some of the administrative burden that goes along with managing a bank account. It will also help to streamline the transfer of the account when new chapter leaders are sworn into office and become the new account authorizers. Additionally, the account can be accessed anywhere and anytime. And perhaps most importantly, it will ensure the financial well-being of all chapters no matter the level of activity or leadership in place.
Policy 3 - ANFP National shall have “Read only” access to all chapters’ financial accounts through verified login credentials on all accounts.
When chapters transfer their accounts to the new platform, ANFP national will be assigned to the account with ‘read only access’. This means National will not be able to conduct business on behalf of the chapter and only view the account on an as needed basis. This will allow National to support struggling chapters and keep finances of dormant chapters intact until leadership can be established. It will also help to ensure account turnover is seamless as well as protects chapters against fraud.
While we understand these are big changes and there will be a learning curve with the new platform, much training and support will be provided. Also, the new policies will benefit the chapter greatly and allow us to focus more on improving our members’ ANFP experience.
For those of you that were not able to join the live webinar covering the policies, you can view it on ANFPtv HERE.