Banking, Record Keeping and Troop (Girl) Money Earning Information
Leaders and Adult Volunteers helping girls both earn and manage money is an integral part of the Girl Scout Leadership Experience. A Girl Scout group is responsible for planning and financing its own activities, with adult guidance. This puts girls in charge, giving them the opportunity (with your oversight) to cooperatively set goals, manage a budget, spend responsibly, maintain records, learn social skills, and develop good marketing, entrepreneurial, math and financial skills!
Troop Bank Accounts (Required for a Troop)
All troops must have a Girl Scout approved bank account through Key Bank.
Chapter 5 of the Service Unit 440 Leaders Guide has a checklist of activities and sample forms.
- Savings accounts, CD’s or money-market accounts are not permitted.
- All adults involved with troop finances must be a GSWW member, have a cleared criminal background check and current Volunteer Application on file.
- Accounts must have 2 signers who are not related.
- Leaders and Treasurers need to review Safety-Wise for GSUSA policies regarding troop finances.
Chapter 5 of the Service Unit 440 Leaders Guide has a checklist of activities and sample forms.
Troop Record Keeping
The Girl Scout Western Washington Banking and Finance web page has forms for tracking troop income and expenses. Below are copies of the forms on the Girl Scouts Western Washington Web site.
NOTE: Use of Girl Scout forms is not required, however, it is recommended as the accounts on the Girl Scout forms coincide with the Annual Troop Finance Report that is required to be filed at the end of the year.
Reimbursements for expenses should always include receipts and be made with a check from the troop bank account.
Parents and Girl Scouts Western Washington staff have a right to review troop financial records at any time.
NOTE: Use of Girl Scout forms is not required, however, it is recommended as the accounts on the Girl Scout forms coincide with the Annual Troop Finance Report that is required to be filed at the end of the year.
- Troop Detailed Cash Record (also available on GSWW web site)
- Troop Detailed Cash Record with Treasury Financial Forms (expanded for improve money management)
- Troop Annual Finance Report (current version available on GSWW web site)
Reimbursements for expenses should always include receipts and be made with a check from the troop bank account.
Parents and Girl Scouts Western Washington staff have a right to review troop financial records at any time.
Troop (Girl) Money Earning
With leader guidance, girls should decide on activities and a budget for the year. Girls should not plan activities that are beyond the means of a significant number of girls in the troop. In an age appropriate way, girls should manage troop funds and help to maintain accurate records. Some other tips include:
- Activities should be financed through dues, GSWW-sponsored product sales, and approved money-earning activities. Leaders need to tell parents that financial assistance is available from the Council for girls who need funding to participate in activities.
- Money earned collectively (such as through the cookie sale program) is not the property of individual girls. Girls must never be given a cash payout from the troop. Each girl should share equally in the profits from the troop’s product sales and money earning activities, no matter how many boxes of cookies sold or hours worked. Exceptions may be agreed upon by the troop in advance for troops planning extended trips. If a girl leaves the troop or does not attend an activity, the money earned toward the activity remains with the troop
- Communication: Leaders should provide regular updates to girls and parents about the troop budget.
Divided, Disbanded and Bridging to Adults Troops
When a troop Disbands, Divides into multiple troops or Bridges to Adults, all money must be spent on appropriate Girl Scout activities. Any remaining funds will be transferred to the GSWW (e.g. financial assistance fund). Other assets and supplies (e.g.: Craft supplies, equipment, etc.) will be transferred to the Service Unit.
- When a girl leaves a troop, all money remains with the troop; however, specific situations will be evaluated and determined by your Area Manager (staff supervisor) and Service Unit Manager.
- When there is a change of leadership, the outgoing leader turns in the Annual Troop Finance Report to the Service Unit Manager. All assets, funds, and canceled or unused checks are given to the new leader. ATM cards must also be turned in.
- Check with your Area Manager (staff supervisor) if you have any questions.