1. Troop Money Management Girl Scouts of Southern Illinois

2. Your Troop Treasury
Helping girls decide what they want to do, and coaching them as they earn and manage money to pursue their goals, is an integral part of the Girl Scout Leadership Experience (GSLE). Your Girl Scout troop, with your guidance, will plan and finance their own activities. At the same time, the girls will learn many valuable skills that will serve them throughout their lives.
Girl Scout troops are funded by shares of money earned through our council-sponsored product program activities (such as the Girl Scout Cookie program); by group money-earning activities (which require council-approval); and by any dues your troop chooses to collect. Remember the $25 annual membership dues goes directly to our national organization, Girl Scouts of the USA.
A troop will need to open a troop checking account in order for the troop to start earning and spending money. Here are a few things to consider when working with your troop account:
Deposit all money earned or collected into the account as soon as possible.
Keep excellent records and establish a clear accounting system for all money earned and spent.
Use checks or a debit card for point of sale transactions, reservations and online purchases. Avoid cash transactions. You can’t use the debit card for cash withdraw from ATMs or to receive cash back with purchases.
Keep troop funds in the bank before an activity or trip, paying for as many items as possible in advance.
Find an adult volunteer in the troop to be the Troop Treasurer making them responsible for the troop’s funds and for keeping an account of all expenditures.
Cancel a lost troop debit card immediately just like you would a personal debit card.
Provide receipts to parents whenever money is exchanged.
Keep receipts for all purchases for at least one year.
Provide parents with regular financial updates of troop fund earnings and spending and allow them to review the troop checking account register and the Troop Year-End Report.
Never write a check to yourself. If you need reimbursement, have your co-signer write the check.
Confidential and Proprietary - Not for Public Distribution - Do Not Copy

3. Opening a troop bank account
What?
Each troop needs to set up a bank account in the name of Girl Scouts of Southern Illinois, Troop XXXXX, using the FEIN for Girl Scouts of Southern Illinois ( ) and the address of a volunteer managing the account (the Troop Treasurer).
Who?
Individuals responsible for handling troop funds must be registered Girl Scouts who have successfully completed a background check. Signers may not be related by blood, marriage, or partnership. Each bank account requires three registered, approved, unrelated signers, one being the Service Unit Treasurer.
Where?
A troop can open a troop checking account wherever it is convenient but check with your Service Unit Treasurer to see if there is a preferred bank used by the service unit. Obtain a debit card for your troop account, if available. The debit card can only be used by one person on the account.
When?
Each troop should open its bank account with the Service Unit Treasurer as soon as your two signers have a completed background check. You will need money from dues or money earned from product program to open the account. Keep the initial deposit slip with your financial records. If you are taking over an existing troop, you will need to change the signatures that were associated with that account. Contact your Service Unit Treasurer for assistance with any account matters.
It is important that each signer on the troop’s checking account reviews the monthly bank statement. Please make sure the treasurer from your troop makes copies of the monthly bank statement and gives them to the other signers on the account, including the Service Unit Treasurer.
Confidential and Proprietary - Not for Public Distribution - Do Not Copy

4. Forms All forms can be located at our GSofSI website by searching the “Forms” tab
The Troop and Service Unit Bank Account form will be used when you open your troop account.
The ACH form will be included in the Nut, Candy and Magazine training information packet. This form will be turned into council and it give authorization for council to remove funds from your troop’s checking account for payment of the fall and cookie products your troop sold from the money deposited from your sales. The profits from the sale will remains in the troop account.
Each Troop must submit a Year-end report of the troop’s finances in June of each year by using the finance tab on the Volunteer Toolkit or submit the report using the Finance Tab Spreadsheet.
Establish your troop’ budget by using the Troop Budget Planning Worksheet.
Confidential and Proprietary - Not for Public Distribution - Do Not Copy

5. Money Earning Activities
How Troops Earn Money
Product Programs
Participation in the Girl Scout Cookie and the Nut, Candy and Magazine (NCM) Programs is the best way for troops to earn money. By participating in these programs, girls build real-life skills that benefits their troop, council, community, and themselves. All girl members, including Daisies, are eligible to participate in our council-sponsored product programs, with volunteer supervision.
Note: Troop participation in the Cookie Program is required, but participation in the NCM program is optional.
Dues or Start Up Fees
Troops may choose to collect annual dues or assess a start-up fee per girl as the troop is organized. Dues collected are in addition to the $25 annual membership registration fee. Reasons to collect dues may include:
New troops will need funds in order to open a troop checking account.
Until the troop has participated in a council-sponsored product program, it will not have funds to purchase supplies for meetings, purchase badges, go on field trips, etc.
Many troops plan special activities, such as a trip or a special overnight event, and the cost is greater than the funds earned through the product sales, therefore collecting dues helps troops save for these activities.
Money Earning Activities
Girl Scout troops may request permission to organize their own troop money-earning activities. Certain policies and procedures apply and can be referenced in our Volunteer Essentials. Types of approved money-earning activities include:
Collections and Drives: Cell phones or used ink cartridges can be turned in for money; Christmas tree recycling; Recycle aluminum cans.
Events: Host a theme meal(high tea, pancake breakfast, etc.); Sock Hop; Father-Daughter dance; badge workshop for younger troops.
Services: Baby-sit for a holiday; yardwork for hire; shoveling snow; washing windows; walking pets.
Confidential and Proprietary - Not for Public Distribution - Do Not Copy

6. Protecting Your Troop Funds Troops work hard for the money they earn so it is important to protect the funds in the troop account.
Sign up for Check Redi. It is free to sign up for and will actively go after checks written to your troop that are returned for insufficient funds. All checks written to your troop must have name, address, phone number and driver’s license number written on the check. For more information, click here
Make sure the type of account you open doesn’t charge any monthly fees. Check with your Service Unit Treasurer to find out which bank the troops are using in your area and to arrange a time to open the account.
Reconcile your bank statement monthly so you are aware of current account balance.
Notify bank immediately if you see any suspicious activity on the account.
Notify Council of any product sale debt from an individual. Do not pay for it with troop funds in hopes of collecting it later.
Any bank fees that are charged to the troop account due to the mishandling of funds by the troop treasurer or leader are the expense of the person who manages the account and must be paid back to the troop account by that person or the person who caused the fees.
Confidential and Proprietary - Not for Public Distribution - Do Not Copy

7. Things to Remember
Troop income should be used to serve all girls in the troop. Troop funds are shared by all members and cannot be given directly to any one girl in dollar or percentage amounts. Troop members and families may vote to use the proceeds for membership dues, training fees, girl program fees, Journeys, Girl Guides, etc. However, troop funds may never be used for a volunteer’s personal expenses.
Use the Finance Tab in the Volunteer Toolkit to record transactions and to submit the year-end report.
Turn in your troop’s ACH form with a blank check as soon as possible to council. It must be turned in yearly prior to the NCM product program.
Submit a request for approval from your council before participating in a group money-earning event. Please note these events must not compete with the Council’s product sales and the United Way blackout dates.
Girl Scout policy forbids girls from the direct solicitation of cash.
Girl Scouts discourages the use of games of chance. Any activity which could be considered a game of chance (raffles, contests, bingo) must be approved by our Girl Scout Council and must be conducted in compliance with all local and state laws.
Unused Girl Scout money left in the account when a troop disbands becomes the property of the council. Prior to disbanding, the group may decide to donate any unused funds to their Service Unit, another troop or for girl activities. Girl activities can include purchasing materials to support another organization through take-action projects. When closing a troop 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. Turn any remaining funds over to a council staff member.
Confidential and Proprietary - Not for Public Distribution - Do Not Copy

8. Points to Ponder
Who decides how the money earned by the girls will be spent?
Discuss with your girls and parents at the beginning of the year how the troop funds are going to be use. Create a budget with the girls. Decide what things will be paid for with troop funds (membership fees, uniform components, badges/patches, and programs or events). Will the troop funds cover the entire cost of the items or will you share the cost with the parents? Keep in mind that if you split the cost of some items with the parents, the troop funds will go further and can be used for more activities for the girls.
What happens if the troop pays for an activity or program and the girl is a no show?
Create a policy at the beginning of the year that is agreed upon with the parents and girls that if the troop paid for an activity or event and a girl misses, the parent will pay back the troop the cost unless a replacement is found or the troop can cancel the girl’s reservation.
What if a girl doesn’t sell cookies or joins the troop late in the year after the cookie sale. Do we have to use troop funds for her expenses?
All money earned is troop money and belongs to every girl in the troop whether or not the girl participated in a product program. You also can’t split up the funds based on how much money each girl earned for the troop.
What do I do if a parent said they paid for something but I don’t have a record that they did?
Keeping good records is especially important when it comes to money. It is best to exchange payment for items with a check so there is a record but if you must exchange cash, use a receipt book so that both you and the parent have a record of the transaction. It is ok to ask the parent for proof of payment but if they can’t provide it and you didn’t give them a receipt, learn from this and next time make sure you provide them with a receipt that includes a copy for your records as well.
Can we save money for a trip in the future?
Traveling with your troop is a great experience. Plan a trip and come up with a budget for the trip. Determine if your product sales (NCM & Cookies) will allow for money to be save each year for the trip or if you will need to come up with other money earning activities to fund the trip. Decide if the parents will need to help pay for the cost of the trip or will the entire cost be paid for with troop funds. You will need to make a note on your Year-end finance report that you are saving money for a trip.
Confidential and Proprietary - Not for Public Distribution - Do Not Copy

9. Knowledge Check 1) Which of the following statements is true?
You must have three approved volunteers as signers on your troop account, one being the Service Unit Treasurer
The debit card may not be used to withdraw cash from a ATM or for cash back on purchases
Check with your Service Unit Treasurer before you open a troop account.
All of the above
2) What form must be submitted to GSofSI to receive permission to hold a fundraiser other than the fall and cookie product programs?
Online Financial Assistance form
The Money-Earning Request form
A Troop Budget worksheet
3) True or False – An integral part of the Girl Scout Leadership Experience (GSLE) involves helping girls decide what they want to do, and coaching them as they earn and manage money to pursue their goals.
4) The best way for troops to earn money is to:
Ask for donations from family and friends
Host a bingo night
Participate in the NCM and Cookie product programs
5) True or False – Only the leader decides how the troop will earn and spend money.
6) The annual Finance report is due in June of each year. How do you submit this report?
Through the Finance Tab on the Volunteer Toolkit
By using the finance spreadsheet tab on the GSofSI website
You can submit by using either of the ways listed above.
Answers: 1) d 2) b 3) True 4) c 5) False 6) c
Confidential and Proprietary - Not for Public Distribution - Do Not Copy

10. Questions. Contact Customer Care 1-800-345-6858 customercare@gsofsi
Questions? Contact Customer Care