No matter how much your troop plans on saving or spending, you’ll need a safe place to deposit your troop dues, product sale proceeds, and other funds. If you’ve stepped up to lead an existing troop, you may inherit a checking account, but with a new troop, you’ll want to open a new bank account.
Here are a few helpful tips:
- Be sure to find a bank that has free checking and low fees.
- Designate a “troop treasurer,” that is, one person who is responsible for troop funds and for keeping a daily account of expenditures.
- Ensure your account comes with a debit card that you can use during activities or trips. These transactions are easier to track at the end of the year.
- Be prepared like a Girl Scout, and make sure another troop volunteer has accessible a debit card for the troop account in case the main card is lost.
- Handle a lost troop debit card the same way you would a personal debit card: cancel it immediately.
- Keep troop funds in the bank before an activity or trip, and pay for as many items as possible in advance of your departure.
Many troops ask a parent to act as the volunteer “troop treasurer”. This can be a great way to involve a parent who wants to be active with the troop but whose schedule is restricted because of work or other obligations. After selecting a bank, the troop leader should request a Troop Bank Authorization letter to take to the bank to open the account. These links will help you get information about opening a new account.
This usually happens when there is money to deposit, such as group dues or money from product program or group money-earning activities.
Parents may be asked to contribute to a troop or group treasury in the following ways:
- New troops or groups may ask parents to donate a one-time startup fee when the troop begins meeting (up to a maximum of $25). Membership MAY NOT BE DENIED based on the inability to pay the start-up fee.
- Group dues are the monies girls contribute to help fund their group’s activities or meeting needs. Dues are typically $5 per meeting. Girls and parents together decide upon the amount and frequency of dues. No girl is denied membership based on an inability to pay group dues.
- Families should know girls are expected to participate in troop money-earning activities to help fund troop activities.
- Parents may be asked (but not required) to contribute a maximum of $5 per girl per year in local service unit dues to provide for copying charges, mailing and other costs associated with providing local service to troop leaders.
- Each family is asked to donate $25 per girl toward the GSGATL Annual Fund. Troop leaders should collect donations for the Annual Fund, deposit them in the troop bank account, and either mail a check to Council, make a donation online via our Website, or via MyGS. Troop leaders should indicate which families have contributed so that an acknowledgement letter can be issued to the parent, and the troop and service unit receive credit toward their Annual Fund goal. Contact annualfund@gsgatl.org to provide instructions on allocation of donations. Membership will not be denied based on an inability to contribute to the Annual Fund.
Troop/group and personal funds must not be comingled. Troop/group funds cannot be borrowed for personal use, even if repaid. Troops that do not meet during the summer are allowed to keep (carryover) $100 per girl in their checking account without submitting a detailed program plan to GSGATL. Troop leaders are required to submit a Troop Finance Report Form to the girls’ parents or guardians two times a year. Troop leaders are required to submit the following to their Service Unit Director by June 15 annually:
- A Troop Finance Report Form
- A copy of the troop’s most recent bank statement
- A detailed plan of how existing funds will be used
Consider these tips when working with a group account:
- Be sure to find a bank that has free checking and low fees.
- Designate a troop treasurer, that is, one person who is responsible for troop funds and for keeping a daily account of expenditures.
- Ensure your account comes with a debit card that you can use during activities or trips. These transactions are easier to track at the end of the year.
- Be prepared like a Girl Scout, and make sure another troop volunteer has a debit card accessible for the troop account in case the main card is lost.
- Handle a lost troop debit card the same way you would a personal debit card: cancel it immediately.
- Keep troop funds in the bank before an activity or trip and pay for as many items as possible in advance of your departure.
Follow GSGATL’s financial policies and procedures for managing troop accounts:
- Identify two or more volunteers who will be
responsible for the funds.
- At least two signers must be unrelated adults not living in the same household.
- All signers must be at least 18 years old, must be registered members of the Girl Scout Movement, and must be approved volunteers with a criminal background check on record that dates back no further than three years.
- Request the Troop Bank Authorization Form.
- Open the
account under the name of Girl Scouts of Greater Atlanta, Troop
#__________
- All bank account statements must be mailed to the Treasurer or other designated volunteer at the volunteer’s home address.
- Troops may secure a debit card to use for troop purposes.
- GSGATL is not responsible or liable for troop accounts.
- GSGATL does not issue Articles of Incorporation or corporate resolutions.
- Presently, the only documents GSGATL can provide to the bank are the authorization form and a copy of our 501(c)(3) status as a not-for- profit organization. This form is provided for the specific use of opening the bank account. All other requests or use of the form to solicit donations and in-kind gifts must be pre- approved by Council.
- Bank accounts should not be set up under the social security number of a parent or other volunteer since that action could create tax liabilities for the volunteer.
Online Group Payment System:
GSGATL has created a partnership with Cheddar UP to support
troops and service units to collect group payments. Details on how to
set up your account can be found here: Online Payments.
Use of a PayPal, Venmo, or CASH App account:
Troops should be aware that these online systems are not banks
and are not controlled by any banking laws. GSGATL recommends that
troop funds be held in a bank which is insured by the FDIC.
Annual Troop/Group Finance Report
The volunteer troop/group treasurer, in partnership with the
girls in the group (Juniors and older), must prepare a Finance Report
and distribute it to each family in the troop a minimum of two (2)
times a year. Full disclosure of the troop finances two times per year
insures transparency and that all family members of the troop are
informed of the troop’s income and expenses; this should alleviate any
concerns about troop finances from the parents. A copy should be given
to the Service Unit Director. The final year- end financial report
should include the most recent bank statement by June 15.
Discrepancies/Mismanagement of Funds
If there is a discrepancy with the troop/group funds:
- The troop leader, assistant leader and volunteer treasurer will meet to determine the problem and resolve it.
- If the problem is not resolved, a Service Unit Director will be contacted. A GSGATL staff person will meet with the troop volunteers and determine accountability.
- Girls, parents and troop volunteers must make the decision as to what action, if any, will be taken should there be mismanagement of funds.
- The troop volunteers will be responsible for pursuing any legal action if that is the decision of the troop.
Addition of a Troop Member
Since funds belong to the troop or group as a whole, and never
to individual members, when a new member joins, she benefits from
those funds equally with the other members. If this is a recently
organized troop, where other families have been asked to contribute a
start-up fee, the new member’s family should be asked as well.
(Remember: membership cannot be denied a girl whose family cannot
pay.) What if a group has been working for several years to earn money
for an extended trip and a new member joins close to departure time?
In this case, if it’s possible to accommodate another traveler
(tickets, hotel rooms, etc. must be considered) it’s acceptable to
invite the new girl to join the trip by paying her own way. If travel
arrangements can’t be changed to include her, the girl could be given
the option to join the troop after the trip or join another troop if
one exists.
Troop Member Transfers
When a girl leaves a troop, for whatever reason, she
relinquishes any claim on money she helped earn for the troop.
However, when a girl is bridging or transferring to another troop, the
original troop may, as a gesture of good will and sisterhood, divide a
pro rata share per girl and make a donation to the receiving troop on
the transferring member’s behalf. This is solely at the troop’s
discretion. In all cases, if a donation is made, a check should be
written directly to the receiving troop. At no time are funds to be
paid to an individual girl or volunteer.