February 16, 2010 1
2 Gail Tompkins Volunteer Development Manager (Staff) 713-292-0221 gtompkins@sjgs.org Sherry Williams Volunteer Development Volunteer 281-723-8198 sjgssherry@yahoo.com
Bank Accounts/Handling Troop Money Additional Money Earning Activities Donations and Solicitations Financial Assistance, who, what, when & why End of Year Financial Statements Questions Open Mike 3
4 GSSJC Resource Guide Chapter 7 Safety-Wise GSSJC Operational Policies (F-433) Financial Assistance Guidelines (F-132) (other forms referenced are available on the GSSJC website)
5
Myth: Troops do not have to have a checking account 6 responsibility of a Girl Scout leadership funds kept bank account. Girls stay informed of status of account Girls participate in the fiscal management of the troop
Myth: As soon as I decide to be a Girl Scout troop leader I can go and open a bank account for my troop. 7 volunteer application and clear criminal background completed BLT (Basic Leadership Training). received appointment letter. Opening a Bank Account form F-34 two signers on the account Registration of Bank Account form (F-36)
Myth: I am taking over leadership of an existing troop. Once I pick up the troop checkbook I will officially be responsible for the troop bank account. 8 changes on a troop bank account filed on form F-36 Registration of Bank Account update bank with new authorized signers non-leader troop member must have a Volunteer Application and clear Criminal Background Check check with bank about appropriate paperwork needed
Myth: Girl Scout troops are not allowed to use debit cards offered by the bank for the checking account. 9 troops may use debit cards adults follow the same guidelines as a checkbook a good way of work: one of the signer to be in charge of the checkbook/debit card, the other signer to receive the bank statements Troops may have interest bearing accounts - all interest earned must be reported on the Troop Annual Financial Report
10 Myth: Troops can and should keep separate ledger accounts for each girl. All troop money is the property of the troop, not individual girls
Myth: The troop leader decides what to do with the money when a girl quits, troop merges with another, splits or disbands. 11 Girl Leaves Girl Scouting Merging Troops Splitting Troops Disbanded Troops troop bank account balance total number of girls in troop number of girls leaving = amount of money sent to troop receiving girls. FUNDS SHOULD NEVER BE GIVEN TO THE INDIVIDUAL GIRL!
12 Myth: The balance for the troop account must be zero at the end of the troop year. carry a balance to provide enough funds for beginning of the year expenses if planning an extended trip and/or expensive activity note on the Troop Annual Financial Report F-31 hold enough money in troop account to cover the cost of registering members for the coming troop year. There is NO maximum limit!
Myth: All information about the troop bank account should be a secret known only to the troop leadership team. 13 girls should be regularly informed about the status of their troop account parents (and/or council/service unit) may request status reports of the troop account the development department of does periodic auditing of troop bank accounts
14
Myth: Troops can do any type of money-earning activity to earn as much money as they wish. 15 Girl Scout Juniors through Ambassadors troops that apply for doing a money earning project must have a Annual Troop Financial Report on file (F-31) actively participated in the two most recent Council product sales that they were eligible for approval for money-earning activity must be received before beginning the activity funds earned must be reported on the Annual Troop Financial Report (F-31)
Myth: If a girl chooses to not participate in a money earning activity, she can not participate in any troop activities or field trips. 16 All funds in the troop account belong to the ENTIRE troop. Participation in money earning activities is voluntary.
17
MYTH: Troops are free to ask for contributions, donations, sponsorships, and volunteer involvement grants (VIG) whenever they need them. 18 Permission must be requested from Fund Development (F-30 and F- 112 available on the GSSJC website) BEFORE receiving/requesting funds. Must meet appropriate guidelines. MAXIMUM TOTAL of $500 per calendar year/troop All funds received by: donations, sponsorships, contributions, and VIGs must be shown on the Troop Annual Financial Report (F-31).
who, what, when & why 19
Myth: A troop can ask for as much Financial assistance as they want to help with any and everything. Financial assistance is for girls and adult volunteers who otherwise would not be able to participate in approved Girl Scout Activities. Disney World or Bust Girls need to learn to plan realistically to live within their means in our changing world. Guidelines/restrictions for applying for financial assistance can be found in form F-132 on the GSSJC website. Parents are NOT the only ones who can apply for financial assistance for girls. 20 All financial assistance received must be reported on the Troop Annual Financial Report (F-31)
End of Year Financial Statements 21
MYTH: Only troops with bank accounts must complete a Troop Annual Financial Report (F- 31). 22 income and expenses must be reported on a Troop Annual Financial Report (F-31) due to the Service Unit Administrative Team by May service unit meeting or May15 copy of the most recent troop bank statement (or online printout) needs to be attached to the F-31 when submitted no bank account - location of funds must be listed on report keep a copy of submitted F-31 and bank statement - with all supporting documents and receipts for a period of at least 3 years
Myth: Financial statements (F-31) only need to be turned in if the troop disbands or the troop request financial assistance. 23 TROOP 5195 FINANICAL STATEMENT $ $ $ $ $25.19 Will be used for a start up party in September A current financial report (GSSJC F-31) on file at the Council office is a requirement for: Continuing in the adult leadership role of a troop Applying for and receiving Financial Aid (girl and/or adult Applying/receiving permission to hold a moneyearning event Requesting/receiving donations and/or grants. Remaining a member in good standing of GSSJC
Before asking your question please give us the following information: Name Troop Number and/or Service Unit Please ask only one question at a time to allow everyone the opportunity to ask their question. If at the end of this session your question has not been answered please feel free to call or e-mail either Gail Tompkins or Sherry Williams with your questions.
Next teleconference will be held on March 16 th, 7:00 p.m. Topic will be Best Practices for getting Parents Involved