Welcome to Girl Scouts of Central Texas Money Manager Training where we will provide general information on financial guidelines for the Council.

Welcome to Girl Scouts of Central Texas Money Manager Training where we will provide general information on financial guidelines for the Council. Covered in this Training: Topic Page Financial positions at GSCTX 2 Non-profit organization 2 Using Sales Tax Exempt Card 2 Bank Incentives 3 Opening a Girl Scouts bank account 3 Making changes to a Girl Scouts bank account 4 Managing troop finances 4 Tracking Troop Finances 4 Reporting troop finances 5 Troop Report of Banking Activity (TRBA) 5 TRBA submission guidelines 5 Troop Separation 6 Troop Disbandment 7 Closing a Girl Scout Bank Account 7 Girl Led 7 Possible Troop Funding 8 Money Earning 9 Financial Sponsorships 10 Money Issues or Concerns 11 Resources 11 IMPORTANT: To receive credit for this course 11 How to use this workbook: Workbook will include more detailed information Follow along in the workbook Keep the workbook for a reference Beyond This Training: Meet with your Service Unit Treasurer to review Service Unit processes Volunteer Essentials-Chapter 5 www.gsctx.org/volresources Several forms are referenced in this training, these forms can be found at www.gsctx.org/forms For additional questions please contact your Service Unit Treasurer or GSCTX at 1-800-733-0011 Your Service Unit Treasurer information will be provided after you attend Jumpstart training with your Service Unit Director. My Service Unit Treasurer (SUT) is: Name: Phone: Email:

Financial Positions at GSCTX GSCTX consists of a staff and volunteer support system that s available to assist you with your Troop and Service Unit needs. GSCTX Finance Department Audits, approves, and stores Reports of Banking Activity Processes Troop/Service Unit Bank requests Provides guidance to Troop and Service Unit Treasurers Service Unit Treasurer (SUT) Manages Service Unit funds and bank accounts Submits Troop Bank Account Requests (TBAR) Works with Troops to open Troop bank account Is a signer on all Troop bank accounts Collects, reviews and submits paper Troop Financial Reports to GSCTX Completes and submits paper Service Unit Financial Report to GSCTX Troop Treasurer (TT) Submit Troop Bank Account Requests to SUT to process through GSCTX for approval to open Troop bank account Manages Troop bank account Reconciles Troop bank account Completes and submits paper Troop Financial Reports to SUT Submit additional money management forms to SUT as necessary Non-Profit Organization GSCTX is a 501(c)(3) non-profit organization Troops, Groups, and Service Units in the GSCTX area are under the umbrella of the GSCTX tax ID number. What this means: Bank accounts opened for Troops, Groups, or Service Units are opened as non-profit bank accounts using GSCTX tax ID number (EIN Number) All donations received by Troops, Groups or Service Units that are claimed on a donor s tax return will reflect the GSCTX tax ID number Sales tax exempt ID number is assigned to GSCTX Troop, Group, and Service Unit activities reflect on GSCTX and should be handled accordingly Troops and SU s are required to report all bank accounts and financial activities to GSCTX. To assist in this process, you will be required to complete one Report of Banking Activity for every Girl Scout bank account that you manage. Exception: checking and savings account listed under the same bank account number is listed on a single report It is important to remember that Troop Reports of Banking Activity are made available for review to Troop, Service Unit and GSCTX staff members upon request. Those reports should be on file at the Kodosky Program Center for five years after submission to GSCTX Using Sales Tax Exempt Card Sales tax exemption allows registered members to purchase items on a tax-free basis. Contact your Service Unit to obtain a sales tax-exempt card for your Troop. How to properly use sales tax-exempt card: Submit to retailers prior to all Troop/Service Unit purchases as some retailers have their own form to complete Do not alter the sales tax-exempt card provided Do not provide the GSCTX tax ID number to non-members Use sales tax-exempt cards wisely and never for personal purchases Use Troop/Service Unit bank account for sales tax-exempt purchases Using the sales tax-exempt card for personal purchases is considered class C misdemeanor GSCTX Retail Shops: Tax can only be taken off core items (books, uniforms, insignia, earned awards, and patches) and only if the purchase is made entirely (no split tenders) with a Troop debit card or Troop check. The troop debit card or troop check must be titled properly as Girl Scouts of Central Texas accounts. 2

Bank Incentives There are banks that will work with non-profit organizations to ensure: No account set up fees No monthly charges No inactivity fees No fees for counting large amounts of cash Debit cards Free online access Free online printing of bank statements Your Service Unit Treasurer (SUT) should be able to assist you with locating banks in your area that work with non-profit organizations such as Girl Scouts and have bank incentives suitable for Troops/Groups and Service Units. Opening a Girl Scout Bank Account ALL Troops/Groups/Service Units must open a bank account to manage Girl Scout funds. It is important to remember that the bank account is a Girl Scout bank account and not a personal bank account. To open a Troop Bank Account, you should contact your Service Unit Treasurer Bank accounts are property of GSCTX, therefore a SU Team member or MDE appointed individual MUST be a cosigner on the account. The Service Unit Treasurer will work with you to complete the Troop Bank Account Request (TBAR), submit to GSCTX Finance Department, and coordinate the opening of the bank account with you and the bank. Below are the steps to follow: 1. Select 2 adult Troop/Service Unit members: a) Must be a registered Girl Scout b) Must have a current cleared Criminal Background Check (CBC) on file c) Must not be related to one another or living in the same household. d) One of the 3 co-signers MUST be a Service Unit Treasurer or Service Unit Director NOTE: It is important to note that a third co-signer on all bank accounts must be a SUT, SUD, OR MDE designated individual. 2. Before a Troop Bank account can be opened, co-signers must complete a Money Manager Training form with the Troop Bank Account Request (TBAR). 3. Your Service Unit Treasurer (SUT) should work with you to complete a TBAR 4. SUT will submit TBAR to GSCTX for approval 5. GSCTX Finance Department will verify all signers meet requirements, approve TBAR and return to individual designated as Service Unit contact (usually SUT listed) on TBAR 6. When the SUT receives the approved TBAR, the SUT will coordinated opening troop bank accounts 7. Please DO NOT go open the bank account until a SUT or SU designee has contacted you. 8. Once your SUT has contacted you that the bank account is open, the SUT will coordinate signing on bank signature cards a) Depending on the bank policy, signers may not have to meet at the bank to open an account b) SUT will coordinate the signing of signature cards c) Statements must be addressed to an account signer, not GSCTX d) Legal names must be used on bank accounts e) Checks must be titled Girl Scouts of Central Texas, Troop f) One debit card is allowed per bank account Making Changes to a Girl Scout Bank Account If at any time you need to change a co-signer on the bank account, you will need to contact your SUT to complete a new Troop Bank Account Request indicating the information being changed Follow steps 4-9 listed above to complete the change Please DO NOT go to the bank to make changes to a bank account until SUT or SU designee has contacted you. 3

Managing Troop Finances As a non-profit organization, it is important to manage funds accordingly. 1. CASH WITHDRAWALS: a) Cash withdrawals are not permitted b) Exceptions may be made with the approval of the SUT, SUD, or MDE and must be supported with itemized receipts. 2. RECEIPTS: All expenses must be supported with receipts Label all receipts Keep receipts and deposit slips for 5 years 3. REIMBURSEMENTS: a) Original receipts are required for reimbursements b) Reimbursements must be made by check, never cash c) The signer of the check should NEVER be the payee of the check. d) One signer may write a check to the other signer for reimbursement. 4. DEPOSITS: a) Keep deposits slips and documentation of where deposit originated b) It is recommended that Troops use a receipt book for documenting payments from parents 5. MIXING FUNDS: Do not mix household funds with Girl Scout funds. 6. TROOP FUNDS: Do not borrow funds from Troop account. Tracking Troop Finances As a troop treasurer, you will need to keep track of all transactions coming in and going out of the bank account. Keeping track of ALL money in and out of bank account will simplify the reporting process HOW you track Troop finances is completely up to you. You may wish to use Microsoft Money, QuickBooks, Quicken, Excel or a check register. We encourage you to use the method that works the best for you. Review and Reconcile monthly bank statement every month. Troop should make every effort to not have monthly fees to the Troop bank account. It is imperative to know which transactions have cleared the bank and which ones have not cleared the bank account to avoid overdrawing bank account. A reconciliation compares the income and expenses that the Troop has recorded in the checkbook excel, or other bookkeeping means to what the bank has reflected on monthly bank statement. To reconcile the bank statement to actual activity: a) To reconcile start with the ending balance on the bank statement. b) Match transactions (highlight or check mark) in the Troop s financial records to the transactions that have CLEARED the bank (listed on the bank statement) c) Take the ending balance on the bank statement and add deposits that have NOT cleared the bank and subtract checks that have NOT cleared the bank. The total reflected should match the balance on the Troop check register. d) Some bank statements provide a monthly reconciliation form for use 4

Reporting Troop Finances Monthly, Troop bank account co-signers are expected to share bank account balances with parents and girls at meetings upon request. Each Spring, troops are responsible for completing a Troop Report of Banking Activity (TRBA). The TRBA can be submitted in either two ways: a) Paper TRBAs may be turned into your SUT for submission to GSCTX OR b) Online submission of the TRBA on the Finance tab in Volunteer Toolkit NOTE: Troop leaders must only complete one submission method Troop Report of Banking Activity (paper) Paper forms are DUE annually, to Girl Scouts of Central Texas by May 1. NOTE: Some Service Units may have an earlier deadline to allow the Service Unit Treasurers time to review paper TRBA submissions. This report serves two purposes: To ensure GSCTX s compliance with IRS regulations Provides Troop, Group and Service Unit members with clarity and knowledge regarding income and expenses Troop Report of Banking Activity (TRBA): First page includes troop information Second page includes financial information Steps for Submitting the Paper TRBA: 1. Deposit all monies prior to the end of reporting period (February) 2. A separate report must be completed for each Troop Bank account (Exception: Troops that are required to have a savings account associated with the checking account may use one report to report both as indicated on form.) 3. A report is required even if your Troop did not have any income or expenses 4. The beginning balance on the TRBA must be the ending balance from the previous year s report 5. The report must be neat, accurate, and complete 6. Fillable TRBA (excel) is preferable to handwritten reports. 7. Print 3 copies of report and save a copy a. One copy for the troop records b. Two copies to SUT (one for SU and one for GSCTX) 8. Sign and date the report. Electronic signatures are allowed 9. Attach a copy of the March ending bank statement with balance matching total balance of the TRBA 10. The balance on the March ending bank statement must agree to the ending balance on the TRBA 11. Your SUT can help you complete this form 12. If your Service Unit doesn t have a current SUT, submit your report to your SUD or individual designated by your MDE 13. If closing a bank account, final reports must be submitted within 30 days 14. Be sure to retain the original signed report for your Troop or SU records Helpful Reminders: If Troop is tracking income and expenses and reconciling bank account regularly, the annual TRBA is relatively straightforward to complete. Report is a report of all transactions deposited into and money leaving the bank account, therefore the total balance MUST match March ending statement total. 5

Troop Report of Banking Activity (online) Submission via Volunteer Toolkit (new for 2018) Coming in 2018, an online submission option will be available for Troop Leaders Leaders will have the ability to use their My GS login to enter all financial information on the Finance tab of Volunteer Toolkit The online TRBA submission will go directly to our Finance & Product Sales Dept. for auditing and further review Guidelines and submission instructions will be provided to all troop leaders by Winter 2018 TRBA Submission Deadlines: Failure to correctly complete and submit this report by the stated deadline may result in any one or all the following: Troop bank account may be frozen and/or closed. Troop cookie bonus may be forfeited. Troop/Group/SU may lose eligibility to participate in Product Sales. Troop financial activity may be audited. Troop Separation In all money matters with Girl Scouts the First Guiding Principle is ALWAYS that troop funds are collected and earned by the girls for the troop, belonging to the troop. When a troop splits or girls leave the troop, it should be a positive experience for troop leadership and the girls. The troop number will remain with the original troop. Troop funds are collected and earned by the girls for the troop, belonging to the troop never any one individual. An equal portion of the total troop treasury divided by the number of girls will be distributed to the troops that the splitting girls transfer to If a girl is inactive during Product Sales, then she is not eligible to receive any portion of troop proceeds from Product Sales when the funds are split. If a girl is in the process of separating from her troop and does not participate in Product Sales within the current membership year, then she is not eligible to receive any portion of troop proceeds from Product Sales for the current membership year when the funds are split. If a girl has not met financial obligations to the troop she is separating from within the current membership year, then she is not eligible to receive any portion of troop funds upon separating from the troop. Examples of financial obligations are: troop dues, payment for campouts/travel, etc. In the case of older girls (Cadettes, Seniors, Ambassadors) earning and saving money for funding of Girl Scout Higher Awards or for participation in Destinations or Service Unit/Council Sponsored Travel, the amount each girl has earned for the Higher Awards and/or the Destinations or Service Unit/Council Sponsored Travel, minus any non-refundable deposits, will be transferred to her new troop. Written documentation must be submitted to the Membership Development Executive explaining what the funds will be used for Higher Awards or Destinations/Travel. While she may set aside funds for individual goals (Higher award, Destinations, Extended Travel etc.) she may never receive personal payment (i.e. cash gift, gift cards, check made out to her, etc.) All payments for personal goals will be made toward the goal (i.e. payment for flight to Europe, purchasing supplies to complete the Gold Award project, etc.) 6

Troop Disbandment In all money matters with Girl Scouts, the First Guiding Principle is ALWAYS that troop funds are collected and earned by the girls for the troop, belonging to the troop. Yearly membership expires on September 30 of each year. Before the Troop disbands: Since Troop funds do not belong to individual members, a meeting should be held to disperse the funds before closing the account. Distribution of cash/gift cards/merchandise to each girl/adult is not permitted. Complete all activities and transactions before membership expire and/or before disbanding. Steps to handling a Troop Disbandment: SUD, SUT or Service Unit Registrar or individual designated by MDE completes a Troop Disbandment Report and Treasurer Worksheet. If girls are joining another Troop then a portion of the money will follow them to the new Troop. The amount is determined by the amount of money in the bank account divided by the number of girls registered in the Troop at the time the Troop disbands. SUT will disburse funds according to the worksheet. Any unused funds left in the account will be deposited in the Service Unit bank account and held for 1 year if the girls return to Girl Scouts. After the Troop disbands: Individuals must be registered for the current Girl Scout year (Oct 1-Sept30) to participate in Girl Scout activities. After all outstanding transactions have cleared, contact SUT, SUD, or MDE designated individual to coordinate Troop bank account closure. The primary signer will receive a final bank statement after the account is closed. After you receive your last bank statement, complete a final TRBA to reflect how the funds were used and submit to the MDE for internal processing. Please Note: For full guidelines and additional information regarding Troop Separation and Division please refer to Chapter 5 of Volunteer Essentials Closing a Girl Scout Bank Account: There may come a time when you need to close accounts. 1. Contact the SUT, SUD, or MDE designated individual to coordinate. 2. The Troop Treasurer will gather bank statements, receipts, unused checks and complete a final Troop Reporting of Banking for submission to SUT within 30 days (this report will show how the funds were used.) 3. If changing banks: complete the appropriate closure process and then follow the new account procedures. 4. SUT will submit all final paperwork to MDE for internal processing 7

Girl-Led Our Girl Scouts learn many valuable skills over the years, so please include them in the money management process as much as possible. You can do this by: Sharing the responsibility with the girls. Teaching girls to assist in document preparation. Teaching girls about money handling. Assisting them in goal setting. Ensuring that the girl s money is safe. Ensuring that the girls have a say in how the money is spent. As with other activities, girls progress in their financial sales and abilities as they get older. This section gives you some examples of the abilities of girls at each grade level. Girl Scout Daisies The Troop volunteer handles money, keeps financial records, and does all of the Troop budgeting. Parent/Guardians may decide they will contribute to the cost of activities. Girls can participate in Girl Scout Fall Product and Girl Scout Cookie Sales. Daisies are always paired with an adult when selling anything. Girls do the asking and deliver the product, but adults handle the money and keep the girls secure. Girl Scout Brownies The Troop volunteer handles money, keeps financial records, and does all of the Troop budgeting. Girls discuss the cost of activities (supplies, fees, transportation, rentals, etc.). Girls set goals and participate in GSCTX-sponsored product sales. Girls may decide to pay dues. Girl Scout Juniors The Troop volunteer retains overall responsibility for long-term budgeting and record keeping, but shares or delegates all other financial responsibilities with girls. Girls set goals for and participate in GSCTX-sponsored product sales. Girls decide on Troop dues, if any. Dues are collected by girls and recorded by a Troop Treasurer (selected by the girls). Girls budget for short-term needs of the Troop, on the basis of plans and income of troop funds. Girls budget for more long-term activities, such as overnight trips, Troop camping, and special events. Girls budget for Take Action projects, including the Girl Scout Bronze Award, if they are pursuing it. Girl Scout Cadettes, Seniors, and Ambassadors Girls estimate cost based on plans. Girls determine the amount of Troop dues (if any) and the scope of money-earning projects. Girls set goals for and participate in GSCTX-sponsored product sales. Girls carry out budgeting, planning, and Troop money-earning projects. Girls must be involved in seeking donations for Take Action Projects, with GSCTX approval. Girls keep their own financial records and give reports to parents and Troop volunteers. Girls budget for Take Action projects, including the Girl Scout Silver or Gold Awards, if they are pursuing them. 8

Possible Troop Funding There are multiple ways that your troop can establish money to start their Girl Scout adventure. Troop Start-Up Fee One-time fee when starting a new Troop. For example, $20.00 per girl when they join the Troop. Troop Dues Determined by Troop. Could be paid per meeting, monthly etc. Example $1 per meeting. Fall Product Sale held in October Cookie Sale in January and February Additional Money-Earning o Review Volunteer Essentials Chapter 5 for more information o Application approval is required for most. Money Earning Girls can earn money for goals they set and use the money earning process as a tool for learning money management, decision making, people skills, business ethics and goal setting. Girls can money earn in 2 distinct ways: Girl Scout Cookie Program and Fall Product Program Troop/Group money earning Written approval from SUD or MDE must be obtained prior to each one-time money-earning event. Collegiate concession Money Earning events also require GSCTX CFO approval. Adults fund raise in the following ways Sponsorships Special Fund Raising Event Friends of Girl Scouting (FOGS) Volunteer Service Match Programs Concessions Corporate Financial Match Programs Profit Share For more information regarding money earning Refer to Chapter 5 of Volunteer Essentials -www.gsctx.org/volresources Ask your Service Unit Director, Service Unit Treasurer, or Membership Development Executive 9

Financial Sponsorships (Valued at $250 or more) Sponsors help Girl Scout councils ensure that all girls in the community have an opportunity to participate in Girl Scouting. Community organizations, businesses, religious organizations, and individuals may be sponsors and may provide group meeting places, volunteer their time, offer in-kind donations, provide activity materials, or loan equipment. The sponsor s contribution can then be recognized by arranging for the girls to send thank-you cards, inviting the sponsor to a meeting or ceremony, or working together on a Take Action project. The Resource Development Department of GSCTX must approve all sponsorships prior to asking. Why? GSCTX must report donations to the IRS. The donor organization may already have a relationship with GSCTX that could be jeopardized by asking for additional giving. The donor organization may require an acknowledgement letter from GSCTX. For the donation to be tax-deductible, the donation must be made payable to GSCTX before it can be distributed to the Troop or Service Unit. To ensure that the request is appropriate and presented in a way that is consistent with Girl Scout messaging. How? Complete a Financial Sponsorship Form Submit to GSCTX Resource Development Department. Next Steps? Once approved, in-kind (non-monetary) donations can be given directly to the requesting Troop/Service Unit. Monetary donations of less than $250 can be accepted by the Troop/Service Unit All monetary donations should be reported as income on Troop Report of Banking Activity (TRBA). Sponsorships should be used in conjunction with product sales and money-earning projects. Members families may not personally benefit from donations. Assets collected are property of the Troop/Service Unit. Solicitation Reminders (For Troops, Groups, and Service Units) Girls may not ask for donations, asking is considering fundraising, and fundraising can only be done by adults (Per Blue Book of Basic Documents, page 21). Girls can make presentations about higher award project to organizations and needs requiring money, but adults must make the actual ask (for example: Gold, Silver, and Bronze projects). Troops/Groups should actively participate in Fall Product and Cookie sales. Troops/Groups must have a current Troop Report of Banking Activity on file with GSCTX. Troop/Group members must be currently registered. The Financial Sponsorship form must be legible and complete. Denied Solicitations Here are some reasons that a sponsorship request may be denied: No current Troop Report of Banking Activity on file with GSCTX. Did not actively participate in Fall Products and Cookie sales. Failure to submit a report and receipts for previously solicited monies. GSCTX already has a donor relationship with the organization. The request or donor organization is not an appropriate partnership for GSCTX. Troop/Service Unit members are not currently registered. The Sponsorship Request From is not properly completed. 10

Money Issues or Concerns Issues may arise with Troop or Service Unit finances that may need a more in depth look. Complete a Service Unit/Troop Financial Request for Review. Submit request to CFO. Gather documentation; provide as much information as possible. Co-signers are responsible for sharing bank activity with the Troop. Troop funds are not for personal use. Resources GSCTX website wwww.gsctx.org contains most financial information needed to manage the finances of your Troop, Group, and/or Service Unit. Items found on the website include: www.gsctx.org/forms Volunteer Essentials (Chapter 5) Managing Group Finances Safety Activity Checkpoints Your SUT, SUD, or MDE are available to answer questions. 11

Money Issues or Concerns Issues may arise with Troop or Service Unit finances that may need a more in depth look. Complete a Service Unit/Troop Financial Request for Review. Submit request to CFO. Gather documentation; provide as much information as possible. Co-signers are responsible for sharing bank activity with the Troop. Troop funds are not for personal use. Resources GSCTX website wwww.gsctx.org contains most financial information needed to manage the finances of your Troop, Group, and/or Service Unit. Items found on the website include: www.gsctx.org/forms Volunteer Essentials (Chapter 5) Managing Group Finances Safety Activity Checkpoints Your SUT, SUD, or MDE are available to answer questions. Important: To receive credit for this course Click the Money Manager Knowledge Check linked under the Money Manager training webpage Complete the survey You will receive a certificate via email within 30 days of completing the survey. Please provide a copy of this certificate to your SU. If you don t complete the survey you won t receive credit for this training 12