Troop Financial Information

Financial Best Practices

1. Train leaders and troop treasurers. There are forms and resources available to assist you and your troop on the Finances Page of Girl Scouts San Diego website. Our Service Unit Treasurer is always happy to meet with troop leaders and treasurers one-on-one as well.

2. Read Volunteer Essentials, Chapter 5. This document will be your “bible,” and it provides valuable information and guidelines to help protect the health of your troop’s finances.

3. Get started with a bank account at Wells Fargo. When you are ready to open a troop bank account or make changes to signers on the troop bank account, visit https://www.sdgirlscouts.org/en/for-volunteers/VolunteerEssentials/TroopFinances.html for detailed instructions.

4. Set up a PayPal Account and link the Troop’s Wells Fargo Account. Paypal is an excellent way to accept payment from troop parents or to make payments for Service Unit Events. It provides quick and easy transactions that can be tracked easily. ** Please note that you may not use PayPal to accept cookie money or fall product money from troop parents.

5. Use your debit card. Debit cards are a great convenience and they provide for an electronic record of all your transactions. They help cut down on reimbursements.

6. Use PayPal or troop checks for payments. Use PayPal or Troop Checks in situations where you cannot use the troop debit card for payment.

7. Handle as little cash as possible. Cash should be used as a last resort or in situations where debit cards, troop checks, or PayPal are not viable payment options. Cash transactions should be itemized on the Troop Annual Financial Report with a detailed explanation of the charges paid with cash. Cash transactions without detailed information will likely be “red-flagged” by the Service Unit Treasurer or by SD Girl Scouts during the financial review process.

8. Use Check Request forms when reimbursement is needed. It is best to use your troop debit card or troop checks for all troop expenses. However, if you’ve spent your own funds on behalf of the troop, complete a Check Request form, attach all receipts, and submit it to your troop treasurer. Note – an ATM receipt will not work as a receipt for reimbursement. You’ll need a detailed receipt that shows exactly how the cash was spent.

9. Money earned belongs to the troop. Any money contributed deposited into the troop bank account remains the property of the entire troop; the troop must determine its use. Money never belongs to any one girl.

10. Review bank statements and reconcile transactions monthly. Begin your Financial Tracking Worksheet at the time you establish your bank account, and use it as a tool to record and reconcile transactions. Reconcile transactions monthly, to ensure that finances are tracked appropriately. This also makes for a smooth, easy submission process when the Annual Financial Report and Financial Tracking Worksheet are due to be submitted.

11. Transparency is key. Provide regular financial reports to the troop and parents. Share results from product sales or money-earning events. Maintain copies of all receipts and a detailed ledger for payments received and payments made. As the Treasurer you are in charge of making sure money is spent wisely and that accurate records are kept (keeping copies of all receipts in a binder or folder), and tracking all income.

12. Annual financial reports (AFRs) are not optional. Each troop is required to complete an Annual Financial Report at the end of each school year. Please be sure to keep track of troop expenses using the Financial Tracking Worksheet. Spreadsheets will need to be updated by troop treasurers, and financial reports will be submitted through Volunteer Toolkit by troop leaders or co-leaders.

Other Valuable Information

Money Earning

Girl Scouts is very supportive of developing entrepreneurship.  Product sales train our girls early on to set goals and to learn how to budget for activities like camp, horseback riding and travel. Often troops set a goal that costs more than they can earn by selling fall products and cookies prompting them to explore new ways to earn money. This is where Money Earning Projects come in.

Money-earning projects need to be approved by the service unit team.  To get started, the girls and leaders should review the money-earning application with guidelines, complete the form and schedule a time to meet with the Service Unit Team to present their project and the reason why they need the money. Simple money earning opportunities could be a garage sale or bake/craft sale; recycling does not require an application.
 

Opportunity Funds

The Opportunity Fund provides need-based financial assistance to individual Girl Scout members to help cover costs associated with basic supplies and Girl Scout activities and events.  Please speak with your Troop Leader or Service Unit Treasurer regarding opportunity funds. 

Troop Disbandment

A troop is considered disbanded when it is no longer functioning or has not registered within six months of the expiration date of its last registration.  Please follow all steps in the Leader's Guide for Disbanding Your Troop/Group, and submit the Disbandment Form to the SU Treasurer.  Assure that any girls that want to continue in Girl Scouts are listed on your disbandment paperwork.