Psi Pi Omega Alpha Kappa Alpha Sorority, Incorporated

Re: Notice of Internal Audit – Year 2022

As the internal audit committee for the Psi Pi Omega Chapter of Alpha Kappa Alpha Sorority, Incorporated, we are informing you of our intent to performed a chapter internal financial audit in accordance with the “Fiscal Fitness: Guide to Chapter Financial Procedures” revised 2020 issued by the Sorority.

The examination will include such tests of the accounting records and other procedures. The procedures for the audit was designed to determine with reasonable, but not absolute, assurance:

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

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

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

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

-Whether the Chapter has complied with laws, rules and regulations

Please prepare your financial documents and submit them to Soror Mahogany Newell by February 28, 2023. This request is intended for the Chapter Tamiouchos, Pecunious Grammateus, and will be provided to the Executive Board.

Mahogany B. Newell

Standing/Ad Hoc Committee Monthly Report

Committee: Fundraising

Date: 9/25/22

Members Present: Carol Gipson, Chiquita Cooper, Raelyn Holmes, Claire Nesbeth, Turquoise Brown, Tierra Smith, Mahogany Campbell, Yatcha Barnes, Chattorria Glymph, Tamika Slack

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: The committee has determined that due to the availability of the venue and casino company, Casino Royale needs to be pushed out to the Fall of 2023. In an effort to remain engaged with our supporters and raise funds in the meantime, the committee has identified a great fundraising raffle that is low effort but can yield high revenue. The Barrow of Booze would be a raffle that we can host virtually, however, the winner must be local. The raffle will consist of a wheelbarrow full of adult beverages and tickets will be priced at $10. Each Soror will be asked to sell 10 tickets to assist in the chapter’s fundraising efforts, and the goal would be $5000. Donations will be graciously accepted and the committee will compile a wish list of wines, spirits and mixers for Sorors to reference.

OUTCOMES AND CONCLUSIONS:

The committee would like for the Chapter to host a Barrow of Booze raffle in the Spring and host Casino Royale in the Fall. The ticket sales goal for the raffle will be 10 tickets per Soror and the financial assessment for Casino Royale is TBD.

RECOMMENDATIONS FOR ACTION OR CHAPTER CONSIDERATION:

The committee is working to identify a Saturday evening in October or November for the Casino Royale event. The raffle will be held mid-April – mid-May.

Action Required

Motion(s):

I move that Psi Pi Omega host a Spring fundraiser raffle for a wheelbarrow of adult beverages, with each Soror to sell 10 tickets.

I move that Psi Pi Omega postpone Casino Royale to Fall 2023 due to availability of our event partmers.

Chairman Signature: