Filling out the Reconciliation Reports each month and turning them into the Corporate Treasurer each month can show the Finance Committee the expenses and budgets of each house, averting a deficit before it happens by comparing budget to actual.
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It’s not a personal audit, but as a member of the house, you have an impact on the future of the house when you:
turn in receipts on time to your finance officer (so timely information can be shared to see if you’re on track for a deficit or surplus)
sign off on your house budget and any adjustments over the semester
as a house, contribute to house savings (part of your budget)
- as a house, pay back a previous house surplus to the SHC (who gave it back to previous house members already)