SPRING 2020 DUES UPDATE AND FAQS

Dear Sisters,

Thank you for your patience as we work to address dues in a way that benefits all members of the chapter while also ensuring the chapter has the necessary finances to address any remaining or reoccurring chapter expenses.

Over the past week, our programs & services team audited all chapter accounts, analyzing current funds, budget expenditure, member payments, outstanding invoices and potential reimbursement scenarios. While we are working to wrap up this process as soon as possible, it is time intensive. Many of you have questions and we want to provide you updates as they are available.

Please understand we are working to expedite this process as much as possible.

WHERE IS MY MONEY GOING IF WE CANNOT HAVE ANY IN-PERSON EVENTS?

We have paused all chapter spending so we can audit chapter accounts and determine what percentage of spring dues was collected, what percentage of the budget was spent and what percentage is remaining in the chapter's account.

Once the audit is finalized we will share the chapter refund amount. Each member's personal refund amount will depend on how much they have paid to date (see below).

DO I STILL NEED TO PAY MY DUES FOR THIS SEMESTER?

Unpaid dues from the spring 2020 semester hinder our ability to fully audit the chapter's expenditures, remaining funds and potential reimbursements. As chapters have already had outgoing expenses related to sisterhoods, social events, recruitments, bid day, philanthropy events, etc. that occurred in January, February and early March, we are requesting that all members pay at least 50% of the spring total before potential refunds are finalized. New members should pay the first installment of their local dues only.

If you have been financially impacted by COVID-19 and are unable to make payments at this time, you will not incur late fees. After refund amounts are established, we will reach out to all sisters who have outstanding balances and work with you to establish a payment plan as needed.

WILL I BE GETTING A REFUND?

It depends. Refund amounts are being assessed for each chapter and will vary depending on what funds the chapter has spent this semester, if the chapter still has any invoices to pay and if the chapter overspent on any of their budgets. We hope to communicate refund amounts by April 1.

If you have already paid in full: You will receive the established refund amount.

If you have completed some payments: You will receive the established refund amount minus the amount that you owe. If you have an outstanding balance that is greater than the established refund, you will receive a credit towards your balance and will have an outstanding balance (less than what you owed before).

If you have not completed any payments: You will receive a credit towards your outstanding balance and will still need to pay the updated amount as your spring 2020 dues.

If your chapter has too many members with outstanding payments: The chapter may only be able to afford to give you part of your refund. The rest will be paid out when/if those sisters with outstanding balances have paid.

DO I STILL NEED TO PAY MY DUES IF I AM A GRADUATING SENIOR?

All members, including seniors, should pay at least 50% of their spring dues before potential refunds can be assessed. All active members, regardless of graduation status, will receive the same established refund amount.

Seniors who graduate with an outstanding balance will not be granted the privileges of an alumna member until the outstanding dues have been paid off.

Please hold all additional questions. Responding to questions slows our audit process delaying our ability to finalize potential refunds.

PHI SIGMA SIGMA

(410) 799-1224 | phisighq@phisigmasigma.org