Troop Finance Guidelines & Report

Planning and budgeting the finances of the troop or group is an ongoing process that requires input from the girls, troop leadership and parents/guardians.

For the most part, troop/ group budgets are built on dues and proceeds from the annual fall and cookie product program and troop money earning activities, where applicable. Girls should be involved in troop finances including planning the budget, estimating costs of activities and materials, and management of the troop funds/bank account, when age-appropriate.

For more information on troop finance guidelines, please refer to the Volunteer Essentials Resource Book, “Troop Finances" section.

Establishing a Troop Bank Account

Because troop/group funds are owned collectively by the troop, proper handling and accounting of the funds is imperative. All troop funds must be placed in a bank account. The following will help you establish a troop bank account:

The signers for the checking account must be registered and background screened adult members of Girl Scouts. Additionally, each Troop bank account must have a minimum of 2 signers who are not related by blood or marriage or living in the same household. Policies & Standards, page 3.
Complete “Using Resources Wisely Troop Financial Training” an online video-based training on www.gsoclearning.com. Anyone who is responsible for troop finances needs to complete this online training.
In approaching a bank, look for a zero to low service fee. Ask your Service Unit if they have any bank recommendations.
Request a Bank Authorization Letter from Service Unit Coordinator-HR (or designee) giving you permission to open a bank account. Prepare any other forms the bank may need: 501c3 IRS Determination Letter and/or Articles of Incorporation (found in the Forms & Docs tab at www.GirlScoutsOC.org or in the Volunteer Network under the Finance tab)
Take the Girl Scout Bank Authorization Letter and other documentation (attached to your bank letter) to the bank when opening your account.
Troops are authorized to have checks and a debit card.
All troop funds must be deposited in a bank account titled, “Girl Scouts of Orange County Troop” and the address of the leader or one of the signers must be on the checks.

Complete the Online Troop ACH Authorization Form each time there is a change in your bank account. Go to www.GirlScoutOC.org and under Forms & Docs and keyword search “TAA” then Click the link “Online Troop ACH Authorization Form” and follow the instructions.

Ins and Outs of Managing the Troop/Group Funds

Managing your troop/group bank account and finances is not unlike managing your own business and personal checking account. Your troop/group will have income (from dues, money-earning activities and proceeds from fall product and cookie sales) and expenses (program fees, supplies, food, and event costs). The best way to keep track of this is through your troop/group bank account. Document the income and expenses as they happen.

Below are a few simple tips to help you successfully manage the ins and outs of the troop/group account. GSOC recommends using the Troop Financial Report Spreadsheet found on the girlscoutsoc.org website, under forms & docs, then keywords “Troop Financial Report Spreadsheet”.

Deposit all troop funds into the troop bank account within 1-3 days
Document the income and expenses in the troop checkbook ledger
Keep all bank receipts, income and expense receipts clearly labeled with description and date
When the bank statement is received, check the statement against the documented income and expenses for the month

End of Year Troop/Group Financial Report

All troops/groups are required to submit an annual Troop Financial Report by June 1^st. The Troop Financial Report is submitted directly to Girl Scouts of Orange County, and reviewed by the Volunteer Specialist assigned to your region. As of 2017, all troops will submit their Troop Financial Report (TFR) on the Volunteer Toolkit (VTK).

The Troop Treasurer will compare all of the Troop receipts against the Troop bank account register, and will compare to a copy of the April bank statement. Using the receipts and/or the Troop bank account check register, the Troop Treasurer will itemize and list all of the troop income and expenses on the Troop Financial Report Spreadsheet.

The troop leader and co-leader will review and verify the accuracy of the information listed on the Troop Financial Report Spreadsheet. After verification, one Troop Leader should complete the online Troop Financial Report using the totals listed on the spreadsheet. This form is on the Finances Tab of the VTK. Only Troop Leaders with a current membership and troop leader role assigned in our system can access this form. Be sure to upload your April bank statement and to indicate whether or not the troop is planning to disband and if the leadership of the troop will change.

Submit the report online by the June 1^st deadline.

Continuing Bank Letter

When changes need to be made to existing accounts, the troop/group will need to request a continuing bank letter from the Service Unit Coordinator-HR or designee. Once the changes to the bank account have been made, submit a new TAA/ACH form.

CLOSING A TROOP CHECKING ACCOUNT

Prior to when a troop disbands, troop girls should vote on how to allocate troop funds. Using the following guidelines, monies may be:

Given to the troop’s service unit to benefit its program activities or projects for girls.
Donated to GSOC to support troops/members with financial hardships.
Donated to GSOC’s Family Partnership to fund our general operations. (GSOC underwrites an average of $325 per member per year.)

Troops must submit a final Troop Finance Report, Troop Disband Notice form, closing bank statement, check of remaining proceeds payable to GSOC, and troop’s supplies and inventory to the Service Unit Coordinator/HR or designee. As when closing a personal account, be sure all checks and other debits have cleared the account before you close it, and realize that you may have to close the account in person. Complete a financial report and indicate where funds were used. If girl(s) are moving to a new troop(s), they relinquish any claim on troop money. Under no circumstances may remanding funds be distributed to individual troop members or leaders.

For more information regarding troop finances, please read GSOC’s Troop Financial Guidelines.