We wanted to inform you of some significant changes from 2nd quarter of 2023 to our financial processes, specifically regarding the management of House Funds.
In the past, there have been challenges with House Heads who resigned or were demoted, as they were responsible for handling House Funds and often refused to transfer them to the current House Heads or Finance Admins. To address this issue and ensure greater transparency, we are implementing a new process.
OLD PROCESS:
✅30% of MEB Collection: This portion is designated for CHAOS FUND.
Breakdown:
👉15% - Grand Eye Ball Fund: This will continue to be remitted to FINANCE DEITY after careful review and approval of the financial report. The 15% fund will be allocated for GEB DISCOUNT to all eligible members according to the CHAOS PROMOTION SYSTEM.
👉15% - House Fund: Previously, this fund was managed by House Heads and the Finance Realm.
NEW PROCESS:
✅15% - CHAOS GRAND EYE BALL FUND: No changes to this part of the process.
✅15% (Plus/Minus) - HOUSE FUND: We will centralize the House Fund, and it must now be remitted directly to our Finance Deity. The NET amount captured on the financial report must also be remitted to FINANCE. This change aims to prevent issues related to the handling and transfer of finances and makes it easier for us to access funds when needed for House contingencies or charity purposes.
We appreciate your understanding and cooperation as we implement these changes to enhance the efficiency and transparency of our financial processes. If you have any questions or concerns, please do not hesitate to reach out to us.