Dear reader, listed below are Frequently Asked Questions (FAQs) on LASSIB Society Chapters. Feel free to reach out to us at email@example.com if you have a query which has not been answered.
|Q.||Can a Chapter open a local Bank account and manage the accounting activities, since there are designated Treasurer & Joint Treasurer?|
|A.||The accounting and financial activities of a LASSIB Society Chapter is managed centrally by the LASSIB Society accounts team at the Head office. This ensures faster consolidation of quarterly and yearly accounts and enables effective financial tracking. The Chapter Treasurer and Joint Treasurer will closely work with the LASSIB Society accounts team to maintain and protect the financial security of the society and financially facilitate the day to day running of the society. The LASSIB Society accounts team will also share periodic chapter financial reports with the treasurer and the joint treasurer. The intent here is that the chapter members focus their energies on strategic activities and not on operational activities, and the head office effectively manages the financial transactions to maintain compliance to regulatory requirements.|
|Q.||What is membership fee to become a member of a LASSIB Society Chapter?|
|A.||A LASSIB Society Chapter is expected raise its own funds and invest the same in chapter activities. One of the method by which a Chapter can raise fund is through membership fee. The membership fee is as defined here https://shop.lassibsociety.org/product-category/lassib-society-membership/|
|Q.||How is membership fee, received from a member joining a chapter, shared between the chapter and LASSIB Society?|
|A.||The membership fee is equally shared between the chapter and LASSIB Society i.e., 50%-50%. For example, if a new member pays USD 100 as a membership fee, then USD 50 is retained by the chapter and USD 50 is shared with the LASSIB Society head office.|
|Q.||Can The Chapter decide or seek a revision in ratio of membership fees shared with LASSIB Society?|
|A.||As a policy, the sharing ratio of membership fee is currently fixed at 50% for all the LASSIB Society chapters.|
|Q.||Is it ok if the Chapter decides not to share funds raised by means of sponsorships, contracting or other events with the LASSIB Society head office?|
|A.||Any fund that is received for an event or cause is first allocated towards meeting the expenses for the event or the cause. At this point in time the chapter can retain any surplus generated.
An important point to highlight here is that the Chapter members cannot be authorized to sign a legal or a written contract, sponsorship document or any related document in its behalf. Any such legal or a written contract should be either jointly signed or approved by the Chapter members along with designated signatory (or authority) of LASSIB Society head office. This step is to safeguard the interests and legally protect the LASSIB Society Chapter members and the LASSIB Society as an organization.
|Q.||What benefits does a LASSIB Society Chapter member receive when he/she joins the chapter?|
|A.||When a member joins a LASSIB Society Chapter, he/she is expected to answer the question “What is in it for me?” It could be a personal goal like enhance public speaking or improve the skill level of specific category of students in colleges. It could also be professional goals like building up the professional network and engage with leaders from relevant industry segment. The biggest benefit that a member receives is an acceleration towards her above mentioned goals, through the Chapter activities.
While answering “What is in it for me?” for its members, a Chapter is free to decide on its chapter activities. There is no fixed set of activities that a chapter has to do. A lot depends on the personal and professional goals of the Chapter members. Having said that, a chapter can always learn from the best practices of other chapters and ideate further. Some of the key events done by a chapter that benefited the members and the community are:
Kindly note that the above list is NOT exhaustive. A chapter can strategize and execute a different activity or can continue to learn from the best practices of other chapters.
|Q.||When a Chapter decides on its activities and events, is it necessary that it selects from the activities and events which are done by other chapters?|
|A.||A The intent of the Chapter is that the members identify a strategic area, identify its challenges and decide on activities and events that work towards resolving those strategic challenges. In doing so, a chapter is free to take its own course or learn from the best practices of another chapter. However, any activity or event conducted by a chapter should comply with LASSIB Society’s Bylaws and Code of Ethics. For example, any chapter activity should not be motivated by religious intent as this is against the bylaws of LASSIB Society (Aims & Objectives, point 4).|