Pi Chapter House Corporation Board Report

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The board of directors for the Pi Chapter House Corporations met on Sunday, February 8th for its winter meeting. The board meets quarterly throughout the year.

Operations continue to run in the black with 16 of 31 items running below budgeted costs. Among those is the operational budget for the house that is expected to be at $335,426 at the end of the spring, down from the projected $366,443 from the fall.

Income revenues have risen due to the large number of brothers living in the house and the larger-than-normal number of brothers living outside the house. Occupancy rate for the fall semester will again be at maximum capacity of 54-55. An additional 20 brothers will be living out of the house, on study abroad programs or off-campus internships. Forty-six of the possible 55 house contracts for fall 2015 have been signed and received. The balance of the house openings will be filled with the newly initiated fall 2014 pledge class members.

Those living out of the house are assessed membership fees, social fees, and a proportional percentage of the house operational costs. Savings in food operations resulted from a fixed rate, per person contract with our new vendor College Fresh which is in its first year of service to the chapter.

Over 250 potential rushees visited TKE during the winter 2015 rush period. The brotherhood selectively recruited 12 persons for the winter pledge class and 10 bids were accepted. Two disinterested brothers were disaffiliated from the fraternity. An improved pledge program was reviewed.

House manager presented a list of damages with costs and fines accessed to those responsible. Unknown causes of damages are accessed against all members’ security deposits. The board approved the actives’ request to sell the pool table in the back dining room and replace it with three high top tables and 12 stools.

The response to the new doors on the library and increased demand for a quiet in-house study space resulted in the board approving the actives’ request for two more tables, new chairs and carpeting in the Foster '48 Library. The board approved seeking contractor bids for the replacement of the original hard wood flooring in the living, foyer and dining rooms.

The annual Pi Chapter educational scholarships were budgeted at $2,000. The capital campaign reported 91 percent of all funds pledged have been received. Seventy-nine percent of all commitments have been paid in total and $97,825 remains to be paid. A large percentage of those payments are part of the five-year plan that will be concluding. 450 persons contributed out of 1,177 living alumni and actives. $1,166,846 is currently pledged to the capital campaign. The board members immediately following their meeting attended an impressive formal initiation ceremony for the 18 member fall 2014 pledge class.