Psi Pi Omega Alpha Kappa Alpha Sorority, Incorporated

Re: Notice of Review – Year 2022 – Pecunious Grammateus

As the internal audit committee for the Psi Pi Omega Chapter of Alpha Kappa Alpha Sorority, Incorporated, we are informing you we have performed a review for the chapter internal financial audit in accordance with the “Fiscal Fitness: Guide to Chapter Financial Procedures” revised by the Sorority.

Below is our final response to the audit. The procedures for the audit were designed to determine with reasonable, but not absolute, assurance:

1. Whether the Chapter has received and used funds in accordance with designated purpose of the funds.

Response: Compliant

2. Whether the Chapter is maintaining effective accounting control over assets, liabilities, receipts, and expenditures

Response: Compliant

3. Whether the records, books and records of the Chapter adequately record its financial and fiscal activities and provide a basis for review of accountability

Response: Compliant

4. Whether tests of the Chapter’s fiscal operations reveal evidence of reportable conditions, fraud or defalcation or other weaknesses

Response: Compliant

5. Whether the Chapter has complied with laws, rules and regulations

Response: Compliant

Recommendations:

• Separate reporting or logging for electronic transactions o Transmittals should reconcile to monthly deposits made

• Establish a method of reconciliation with monthly report and Tamiouchos report and or bank statement o Money collected should reconcile to monthly deposits made

Thank you for your support with this audit. This information will be provided to the chapter and documents provided to the external auditor to meet the audit deadlines.

Mahogany B. Newell Audit Committee Chair

Final Cluster Meeting 2022 Report

May 2023 General Body Meeting

● Region Tamiouchos Update: Seed money had to be used first. before a Region check would be. issued.

Per MRD, any profit made from the Cluster Meetings is considered region money and will not be reimbursed to the host chapters.

● Cluster Account needs to be closed. The balance will be divided and returned to sorors who paid assessments.

● Minutes need to be reviewed and finalized.

● Transition Meeting with Cluster Coordinator and 2023 Cluster Meeting Chairman completed.

Yours in Sisterly Service,

Soror Penny Birch 2022 Cluster Meeting Chairman

Standing/Ad Hoc Committee Monthly Report

Committee: Fundraising

Date: April 26, 2023

Members Present: Yatcha Barnes, Raelyn Holmes, Turquoise Brown, Chattorria Glymph, Adia, Stokes, Tamika Slack, Chiquita Cooper, Mahogany Newell

GOAL/OBJECTIVE OF COMMITTEE (Statement of Task):

Develop Fundraising activity for program year. Current Fundraiser will fund programs for the Chapter as well as scholarships for the Foundation

MEETING RECAP:

Call to Order: 7:33PM Conclusion:8:01PM

Bar Cart Raffle: The committee has complied a “Wish List” of items, which is available on Sign-up Genius and donations will need to be collected at the May chapter meeting. In addition to the wish list of items, Sorors can opt to provide items they may already have or donate cash for the committee to utilize for the wagon and/or spirits. The Raffle will consist of a wagon full of adult beverages and tickets will be priced a t $10, $25 and $50. Each Soror is asked to sell 10 tickets to assist in the chapter’s fundraising efforts, and the goal would be $5000.

Casino Royal planning has begun. The committee has secured the venue, casino company and DJ to date. Then ticket prices will be $100 and the committee will motion for the financial assessment to be $250 . The sponsorship packets will be ready for distribution at the May meeting and we will present the motion for the assessm ent as well

OUTCOMES AND CONCLUSIONS:

The committee is planning for the Chapter to host the Bar Cart raffle May 1st – 19th and host Casino Royale November 4th. The ticket sales goal for the raffle will be 10 tickets per Soror and the financial assessment for Casino Royale is asked to be $250.

RECOMMENDATIONS FOR ACTION OR CHAPTER CONSIDERATION:

Action Required

Motion(s):

I move that the Financial Assessment for 2023 be $250 for the Casino Royale fundraising event.