Notes from your Treasurer . . .
Girl Scout Money Management 101
Hello! My name is Geri Cooney and I am the Crossroads Association treasurer! I am here to help you with money matters pertaining to your troop and association events. Feel free to contact me at (925) 551-7760 or gerimark@cooneytanner.com if you have any questions.
For guidelines and procedures on handling funds for Girl Scout activities, the Council Resource Book is the ultimate source. The 2006-2007 booklet is mustard yellow, and "Money Matters" starts on page 13. The Council Resource book is available on the council website: www.girlscoutsbayarea.org.
Below are some Frequently Asked Questions regarding handling Girl
Scout Funds:
Troops:
1) Why do I have to open a checking account?
There is a long list of reasons why this is a wise thing to do . . . and ends with "because it’s the rule!" First, we have found that troop leaders who do not have a troop checking account have a tendency to use their OWN funds for troop expenses, and then are reluctant or slow to get reimbursed. This is NOT OK! You are already contributing a great deal of your own personal resources just by being the troop leader! This added burden often becomes the last straw when a difficult situation arises. We want to keep you as a leader! Don't set yourself up to get burned out!
Second, by having a separate checking account, it is easier to keep track of income and expenses related to the troop. When you use your own personal checking account, the chances of record-keeping becoming muddled are greatly increased. This separate record-keeping protects YOU, the troop leader. Misunderstandings can sometimes escalate into suspicions and accusations, and before you know it, your good deeds and volunteerism can be rewarded by a thoroughly unpleasant ordeal. And let's face it, unfortunately there have been isolated instances where troop leaders ultimately were NOT trustworthy, and made off with troop funds. So protect yourself, your troop and the excellent reputation of the Girl Scout organization by following established procedures with a troop checking account.
2) I heard that Daisy troops don’t need a checking account -- is that true?
Since Daisy troops do not participate in product sales or fundraising, financial transactions are supposed to be somewhat limited. The reality is that Daisy troops attend lots of events and troop activities usually require the collection of dues. So we strongly encourage checking accounts for Daisy troops as well.
3) Okay, okay, I'll do it . . . but where do I go? What do I do?
Most major banks will provide checking accounts free of service charges (you do have to pay for check printing) for Girl Scout troops. You will need the tax I.D. number of our Council (Girl Scouts of Northern California) which is 94-1551410. You may also need a letter verifying our non-profit status. Contact me at gerimark@cooneytanner.com for this letter.
The name on your account should read: "Girl Scouts of Northern California, Troop #____". Don't say "Daisy Troop" or "Brownie Troop" because the girls will progress to the next level long before you run out of checks. You need to have at least THREE signers on the account (this is new!). AND, although the bank won't require the two signatures on each check, our Council policy does require two signatures on any checks you write or any withdrawals you make. This creates further accountability, and again, protects YOU.
4) Will you accept my personal check for Association events (such as Thinking Day)?
If absolutely necessary (i.e. you are waiting to receive your new troop checks), we will accept personal checks, but for all the reasons listed above, we strongly encourage you to write checks for events from your troop checking account. Acceptance of your personal check does not endorse this practice, as Money Matters states: "Girl Scout Troop funds cannot be co-mingled with a personal account." Also remember that when you are paying for an association event, make it with one check payable to Crossroads Association.
5) What's this Troop Financial Report I've heard about? Do we really have to do it? Where do I get it?
Every troop must file an annual Troop Financial Report by June 30th, along with a copy of their May bank statement. You should receive this form with your registration materials in the Spring. However you can also download from the council website: www.girlscoutsbayarea.org - click on "Publications and Forms" and then download form 357x. Lastly, a sample of the form is in your Council Resource Book. Please be sure to turn this form in by June 30th even if you are not registering your troop until the Fall! The Council fiscal year ends in the summer and their reports must be wrapped up and available to the auditors by then. Again, it’s all about accountability. Also, be aware that next year’s troop registration will not be processed until the Troop Financial Report and bank statement are received.
6) Whew! This is a lot of work! Don't you know that I already have my hands full with planning meetings, permission slips, badgework and group dynamics?
You're absolutely right -- it is a lot of work, on top of the really important stuff you're doing as a troop leader. That's why you need to DELEGATE this job to one of your registered parents! Surely one of them is good with money and even enjoys balancing a checkbook (there are a few of us odd folks out there!). You need to have a second signer anyway, so recruit that person to be your troop treasurer! Then sign a few checks and give her (him) the checkbook!
7) Our girls are seniors in high school this year and sadly, we will be disbanding at the end of the year. Can we divvy up the money remaining in our account between the girls?
No, the money does not belong to the individual girls -- it belongs to the troop. There are a few options available to disbanding troops who have not used all of their troop funds for troop activities -- they are explained on page 14 of the Council Resource Book. Be aware that there is a disbandment form (88x) that must be completed along with the final Troop Financial Report. Contact me if you need help with this process.
Friendship Fund
: What is the Friendship Fund? How do we get the funds?The Crossroads Association Friendship Fund guarantees that no Girl Scout will be turned away from an association event due to financial reasons. Further, funds are available for girls who need help with purchasing some program items, such as a sash, vest, books or insignia.
If you are filling out the registration form for an event, just indicate on the form that Friendship Funds are needed for a girl where you indicate "amount paid". If funds are needed for uniform pieces, contact me, the Association Treasurer with the amount needed, or submit a receipt for reimbursement.
Fundraising: Our troop wants to do a fundraiser for a big trip -- is that OK?
Yes, your troop can do a fundraiser, subject to a number of requirements, including participation in Fall AND Cookie Sales, and completion of the Troop Money Earning Application (form 300x). See page 13 of the Council Resource Book and your Leader Manual for complete details.
Events:
1) Okay, our troop is ready to put on an event for our school. How do we handle the money?
All the instructions for handling event money is included in the event packet, which is in your leader manual (blue binder) AND on the Crossroads Association website. The most important thing to remember is that when you turn in checks for deposit or a request for reimbursement for expenditures, be sure to fill out the deposit/payment request forms which are included in the event packet. You can also download these forms from the www.crossroadsassociation.com website. You can get these transactions to me at the monthly leader meetings or call me at (925) 51-7760 to make arrangements to drop off at my home: 8640 Fenwick Way, Dublin.
2) Geri, what else can I do to make your job as Association Treasurer easier?
Wow, I'm so glad you asked! There are a few things you can do: first, it is a big help if you fill out the deposit/payment request forms completely, especially including the event date. Our association runs 30+ events each year and we track them by event date. Secondly, please make sure each check has the troop number on it somewhere. Lastly, you'll make my day if you sort the checks by troop number.
3) How soon can I expect to receive my reimbursements?
I generally try to issue and mail reimbursement checks within 3 days of receipt. So if you have not received your check within a week of submission, call me or contact me at
gerimark@cooneytanner.com .Crossroads Deposit Slip (pdf)
Crossroads Payment Request (pdf)