Maegan sends this reminder on dealing with Troop Finances:
Reminder: council financial forms come in your packet every year or can be printed off the website.
1. Bank Account Information Sheet: This is turned in when you begin a troop or there are changes to your account. Every account must have two non-related signers, but only one is required for signing checks.
2. Annual Financial Report: This is usually due around June 15th. You do not have to turn in receipts or a detailed spreadsheet, but we would encourage that a 2nd pair of eyes check turned in reports. Under the Forms and Resources page on the website under the Troop Forms section you’ll find and easy to follow Troop Detailed Financial Record.
3. Lapsed Troop Report: You must turn this in showing your account is zeroed out and closed if your troop isn’t continuing due to graduation or other reasons. Money can’t be handed out to girls but should be spent on the girls, donated anywhere, or given to the Council’s Troop Reorganization Fund. If girls are moving on to another troop some money can go to the new troop. Let the girls decide on how to use the money.
4. Tax Exempt Letter (separate attachment): You can use this to register at various stores for tax free purchases. You may have to fill out paperwork particular to the store using our tax exempt number which is not on the letter. It is 63-0288834.
5. Troop Sponsorship Agreement: This is submitted if an individual or company is donating money to your troop. The “ask” must be approved by the Council first.
6. Money Earning Application: If your troop would like to raise money outside of Fall Product or Cookie sales you will need to submit this form for approval. Safety Wise also has rules on what type of fundraisers you can do.
Common Issues:
1. Type of account: Your account should more than likely be a general checking. You can use debit cards/and or checks.
2. Spending own money as a troop leader: We know this happens, but it is never an expectation we place on volunteers. If you have to reimburse yourself for whatever reason from the troop funds please have your co-leader or other person on the account reimburse you and document it in your records.
3. Giving money to other organizations: In Safety Wise it states we can’t explicitly raise money in the name of another organization or participate in selling any other commercial product besides cookies/nuts. However, out of profits or money you already have in your account you can choose to donate funds. You can collect and donate physical items to other organizations at anytime.
4. Girl leaves the troop: Her money cannot be refunded for national membership fees and our suggestion is for any other money as the money belongs to the troop. If someone leaves they cannot be handed money directly. If a girl transfers to another troop it’s up to you to possibly transfer part of her troop dues to the new troop. Registration is transferred when you inform Council of the switch.
5. What if a child doesn’t pay: There are a variety of options as you can take the money she owes out of cookie profit, work out a payment plan, or not allow the child to attend add on events or purchase additional things like event t-shirts, etc. Please try to work with people as best as you can and make a written record signed by all parties for a payment plan. If this is a continuing problem Council can help.
6. Writing checks out to cash: We do not recommended this at all and we suggest getting a debit card and marking in your records what the cash was for.
7. What if someone bounced a check: They owe you for the check and the processing fee. From that point on we would suggest having the family pay in cash, cashier’s check, or money order only.
8. Not happy with your bank service: We have no ties or allegiance with any bank, so if you are not happy with your service the best thing we can suggest is moving your account to another bank that suits your needs and preferences better. Please remember that as the Council we can do very little with big Banks and changing their practices just to suit Girl Scouts.
Things We’re Still Working On:
1. Online banking: Although this isn’t new, it is a new problem for the Council. Since we all open up accounts under the same number there is a good chance that when you bank online you can see other accounts. You cannot do anything to them but you can see them. For some people this is not the case. It just depends on how the banker you worked with entered it into the system. Please have patience as this will be a slow process in working with the many banks.
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