Fraternity Executive Board Meeting: Budget Realignment and Formal Event Strategy Notes

Formal Event Planning: Chicago versus Milwaukee

• The chapter is debating the location and scale of the upcoming formal event, weighing the tradition of hosting it in Chicago against the cost-effectiveness of Milwaukee or local venues.

• A previous event referred to as a "semi-formal" at a bar was considered successful because of its low-stakes nature, where members simply showed up at a bar with existing infrastructure.

• Holding a "formal" at a bar is criticized as being "super lame," even though it would be significantly cheaper.

• There is a proposal to conduct a formal dinner at the same venue where the "gala" was held, although the previous gala was described as an "absolute shit show" due to accounting errors where approximately two-thirds of the funds were unaccounted for.

• The current strategy for setting up formals involves using a specialized company that provides package deals with various variable prices.

• Chicago is traditionally chosen because of package availability and its proximity, though transportation costs are high.

• Danny is identified as a valuable resource for local Milwaukee venues and bars because he is "tapped into" the local scene and has successfully set up events at wedding venues in the past.

• There is a push to capitalize on the acquisition of a "new house" by focusing more events on campus to improve member visibility and recruitment for a larger pledge class.

Financial Analysis and Budget Realignment

• The chapter is moving from a "top-down" budget approach to a "bottom-up" budget building process to ensure transparency and accuracy.

• Comparative Cost Analysis:
    - The cost to host the formal in Chicago was approximately $18,000\,\text{dollars}$.
    - An event held at "Brothers" cost approximately $4,800\,\text{dollars}$.
    - The calculated savings from not going to Chicago is estimated at $13,200\,\text{dollars}$.
    - Hosting a formal in Milwaukee is projected to cost between $6,000\,\text{dollars}$ and $8,000\,\text{dollars}$.
    - The gala venue was previously rented for $11,000\,\text{dollars}$, though this was during an "off-season" period.

• Impact on Member Dues:
    - Choosing not to go to Chicago could be the difference between members paying $950\,\text{dollars}$ per semester versus over $1,000\,\text{dollars}$.
    - Currently, some members are paying out of pocket for additional costs. For example, a previous trip to Chicago cost members an additional $250\,\text{dollars}$ to $750\,\text{dollars}$ on top of funding provided by the fraternity.
    - The goal is to avoid situations where guests or brothers have to pay out of pocket for parties or exchanges, as this is viewed as "ridiculous."

• Internal Revenue and Funding:
    - There is a discussion regarding joining "MUSG" to potentially funnel money into the fraternity, with a possible cap of $10,010\,\text{dollars}$.
    - A specific committee mentioned is overseen by a majority of members from the same fraternity ("Delts"), which could influence voting on fund allocation.

Event Structures and Operational History

• The chapter evaluated the effectiveness of "open bar" formats versus cash bars or alternative structures.

• Exchange Costs:
    - A recent exchange with Marquette involved a bus cost of $46\,\text{dollars}$, alcohol costs of $75\,\text{dollars}$, and a total of $156\,\text{dollars}$. This is contrasted with projected costs from Danny that estimated exchanges at $3,000\,\text{dollars}$.
    - A party cost approximately $450\,\text{dollars}$ out of pocket despite projections of $4,000\,\text{dollars}$.

• Brotherhood event alternatives for Chicago:
    - Transitioning the Chicago trip into a "brotherhood event" rather than a formal.
    - This would involve removing the "open bar" requirement to cut approximately $6,000\,\text{dollars}$ in costs.
    - Activities could include group tickets for a Chicago Cubs game at a rate of $30\,\text{dollars}$ per person, or potentially a Sox game if costs were as low as $5\,\text{dollars}$.

• "The Dells" as a venue option:
    - Suggested as a location for cabin-style retreats or "log cabins."
    - It is viewed more as a "glorified frat camp" rather than a formal venue, focusing on nature and dive bars.
    - "Frat camp" is currently not a concern for the e-board.

Strategic Growth and Member Sentiment

• There is significant pushback from certain membership groups regarding the cancellation of the Chicago formal.

• When the idea of canceling the Chicago formal was brought up in a chapter meeting two months ago, the speaker received significant emails and texts calling it a "retarded idea," with some jokingly referring to "death threats."

• The junior class and the new pledge class are the most concerned, as the Chicago trip is a major "selling point" for the fraternity.

• Conversely, many members are stressed about the high cost of dues ($900\,\text{dollars}$+) and would prefer the financial relief of a local event.

• Accessibility is a concern: Not everyone in the fraternity could afford the previous Chicago trips, leading to exclusion.

• The fraternity aims to utilize sponsorships to offset costs. Mentioned potential sponsors include an energy pouch company that previously provided $1,000\,\text{dollars}$ and two kegs, as well as connections to the CEOs of "Calypso" and "Carlos."

Future Budgetary Procedures and Timeline

• May 11 - May 13: A Zoom/Teams call will be scheduled to discuss price quotes for both Chicago and Milwaukee locations. This must happen before May 14, as one member is undergoing surgery.

• Finals Week: Initial texts will be sent to the event company to discuss pricing.

• Weekend of June 12: A meeting is penciled in to finalize a "hard budget."

• June 19 (Juneteenth holiday): A potential alternative date for meeting, as many members will have off from work on that Friday.

• July 1: Deadline for submitting the finalized budget to the governing body.

• The Finance Committee will be expanded, and members from various classes will be added to the group chat to facilitate a bottom-up budget building approach.

Questions & Discussion

• Senior Send-off Costs: Discussion regarding the budget for the senior send-off. Initially, it was described as "low budget," but costs inflated due to the rental of a party bus ($1,400\,\text{dollars}$), ordering last-minute food, and purchasing too many kegs.

• The Party Bus: A clarification was made that the party bus cost was $1,400\,\text{dollars}$, not $14\,\text{dollars}$ or $750\,\text{dollars}$ as previously thought.

• Texas Roadhouse: The seniors are planning to go to Texas Roadhouse for a meal utilizing $30\,\text{dollars}$ vouchers.

• Hazing Case: There is a brief mention of a potential reopening of a hazing case, with information coming from a contact in "DKED."

• Numerical Check: A list of figures was added during the meeting including $786.30$, $786.70$, $86.36$, $4.80$, and $1.58$.