Guide for Class Treasurers
Role of the Class Treasurer
The class treasurer serves a four-year term and has the responsibility of monitoring and disbursing class funds for class-related events and activities. The class treasurer works closely with the yearly-elected Medical Student Government (MSG) class co-chairs and representatives to coordinate these events. Dues are collected once at the beginning of the MS1 year and should last for the following four years. These dues are an important source of funds as they help subsidize events and activities ranging from the formal in the MS1 year to flowers for the birth of a classmate’s child to celebrations for match week and graduation in the MS4 year. While the final decision as to how the funds are spent is up to the class treasurer, it is important that collaboration occurs between the Class Board (MSG co-chairs & representatives) and the Class Treasurer. Keep the best interests of your class as a whole in mind, while respecting the fact that the co-chairs and reps are elected to plan social events for the class. Give them a framework of how much money they have to spend with each year.
Collecting Class Dues
Traditionally $50 has been collected from each class member. Begin as soon as you are elected in your first year. This is often a challenging process. Explain to your classmates that these are collected from EVERY first-year class and that they are used to:
- Help fund various social events for your class for the next four years
- Help subsidize tickets to the formal.
- Send cards/balloons/wishes of congratulations or condolences to classmates on behalf of the class as life events happen during your years at Penn.
Use your discretion for classmates that come to you to discuss financial concerns. After initial collection, use your class co-chairs & reps to spread the responsibility of encouraging those classmates that have not yet paid (phone calls or personal e-mails can be particularly effective). There will also be a small number of your classmates from whom you will not be able to get dues. How that affects their ability to attend class events, especially in the first year, is up to your class board.
Setting Up a Bank Account
- Past treasurers have set up accounts at either PNC or the Penn Student Credit Union.
- Obtain a free checking account and have checks printed as you will use these to reimburse class board members that pay for expenses.
- By opening a business account, you can generally put the class name as the name on the account but have you listed as the authorizing signature. You should keep this account separate from your personal finances. Let the bank help you to decide which account is most appropriate for your particular needs.
Template for Planning a Four-Year Class Budget including Activities & Expenses
(based upon feedback of previous treasurers)
| Year 1 ($2500) | |
| MS1 contribution to the year’s formal | $2000 |
|
|
| Class-specific social / stress-relief events | $500 |
| Year 2 ($900) | |
| End of pre-clinical block party | $350 |
| Basic Science Teaching Awards (cost of certificates, frames, reception) | $350 |
| Miscellaneous social events, especially those following clinical blocks 1&2 | $200 |
| Year 3 ($850) | |
| Contrib to misc social events, especially those following clinical blocks 1&2 | $400 |
| End of core clinical clerkships party (block 4) | $450 |
| Year 4 ($1750) | |
| Contrib to approx. monthly class get togethers / Happy Hours | $250 |
| Contrib to class get together during bioethics week | $100 |
| Contrib to Match Day Afternoon Party @ Bar (following Suite 100 reception) | $500 |
| Contrib to Match Day Night Party @ Bar | $400 |
| Contrib to Party near Graduation Weekend | $500 |
| -------- | |
| All Years ($700) | |
| Discretionary Funds for Class Gifts for Congratulations or Condolences | $700 |
| -------- | |
| Estimated Starting Total | $6700 |
Suggestions to share with class co-chairs & representatives
Note that for most class happy hours, bar nights, events, these can be most cost-effectively designed by scheduling when a bar already has specials or appetizers available, or you can spread money around by paying for 1 round of drinks for an event or making a deal with a bar that they you will try to bring in at least 50 people and do they have any specials, etc. they can make available to your class (with ID, bracelet, etc.)
Bars that have been used by other classes successfully
| Buffalo Billiards: | Have made deals to reserve private room for us before; also can cater food; mention you are from Penn Med |
| Sugarmom’s: | large space with pool tables, usually have specials |
| Potcheen: | Have free appetizers during some happy hours |
| Roosevelt’s: | Good place for Happy Hour |
| McGillan’s: | Very large bar with second room upstairs |
| Loie: | Can give you the back half of the bar |
| Mad 4 Mex: | Convenient location, though not always A-1 service |
| Black Sheep: | Upstairs and downstairs bar |
| Ten Stone: | Pool table and back room can be reserved, serve a large variety of beers |
There are many, many more bars out there… Just ask upperclassmen for other suggestions!!
Be sure to ask the MS2-MS4 treasurers for suggestions, ideas and guidance.
GOOD LUCK!
Compiled by the 2004 Penn Med Class Treasurers and MSG Executive Board
Revised 5/05
» TOP