Rule 3: Never handle cash

A president and a chapter cannot be successful unless the finances are strong. As president, you have a responsibility to the organization to make sure the finances are handled professionally and appropriately.  Never deal in cash. Don't accept cash or pay for goods or services in cash. Make all financial transactions by check to ensure there is a paper trail. This will prove to be very valuable if there is ever a financial disagreement. Second, every check that is paid by the chapter should require the signatures of the president and the treasurer. This will ensure that both the treasurer and the president know how every cent is being spent. Also, both people have to have the backbone to say no when they don't agree with the way money is being spent.

“The Chapter President –Preparing Sorority and Fraternity Leaders for the Unexpected”
by Patrick Daley
thefraternityadvisor.com