1. Best Financial Practices for Scout Units
Capitol Area Council
Austin, Texas

2. Who manages the money?
Everyone on the Unit Committee is responsible for the finances of the unit!
Appoint a Treasurer
Have the Treasurer report at each committee meeting
Be willing to answer questions from volunteers about the finances of the unit

3. Banking Open a Checking Account
Two names on the account – not related parties!
Checks/withdrawals require 2 signatures
Have signers be on committee
Cash Balance, receipts and payments are part of Treasurers report
All funds pass through the bank account

4. Banking Oversight Monthly reconcilation
Bank balance +/- outstanding items = book balance
Reconciled by someone other than the Treasurer (or at least inspected)
Second person looks through check images
Make sure vendor names make sense
Look at amounts, make sure match statement

5. Petty Cash Committee sets a limit for petty cash
Treasurer tracks petty cash
Who has it?
When did they check it out?
How much?
After activity, remaining petty cash is returned to Treasurer with receipts

6. Deposits with Capitol Area Council
Units may deposit funds with CAC
Registration
Shop merchandise
Where to get forms
Scout Shop
Controller
Your District Executive
Designate authorized persons
Similar to a Debit Account
No substitute for a checking account
Not credit account
Sales History/Account History Available

7. Tax ID Numbers Your entity is chartering organization
Ask charter partner to share T.I.N.
Do not use a volunteer’s social security number
Form SS-4 at
Tax hotline
Form 990-N

8. Exempt Status? Your unit is exempt if: Do not incorporate
Chartered by a tax-free entity or
Chartered by a church
Do not incorporate
Your unit is part of your chartering organization
Do not apply for tax-exempt status
Units are not legal entities
Unit Status = Charter Partner Status
Churches
Have tax-free status
May not have applied for a “determination letter”

9. Donations Units may not solicit cash donations
Soliciting violates charter and bylaws
Units may accept cash donations
Local council does not receive gifts on behalf of units
Volunteerism grants may not go to units

10. Call your District Executive
Questions? Need help?
Call your District Executive