Category Archives: Finances

Disbanding a Troop

August 8, 2024Finances, Paperworkkaycee2418@gmail.com

There are several reasons why a troop might disband. The biggest are:

The girls all graduate high school.
The troop leaders step down and no other parents take their place.
The girls are pulled in too many different directions and decide to close their troop.

Whatever the reason, the GIRLS need to decide what to do with any money left in their account. Troop funds are not the property of any individual girl and can not be divided up and given to the girls. The girls can choose to:

Pay it forward – helping another troop or donating the money to the Service Unit’s or Council’s scholarship funds.
Donate it to another organization.
Have one last adventure together.

No matter which they choose, the troop leaders and treasurer are responsible for properly closing out the troop. This includes:

Making sure all checks and other debits to the account have cleared.
Selling or donating any supplies and equipment owed by the troop.
Working with the SU Treasurer to close the troop’s bank account.
Completing the Disbanded Troop Form.

Troop Decisions

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Troop money belongs to the entire troop and decisions on how to spend it and what to save for are troop decisions. Once the girls decide on what to do and how to pay for it, each girl receives an equal benefit from the troop fund to pay for the activity.

Does this mean the girls should vote on buying every piece of poster board needed for a badge project? No. Every expense does not need to be voted on but they do need to be accurately reported in the troop records. Also, the girls should know that small expenses happen and that they can add up quickly.

Does this mean girls should pressure the other girls to vote their way? No. A round table discussion is great, with each girl stating what she’d like to do and why. When it is time to actually vote however, that should be done privately and in such a way that the girls do not know which girls voted for what.

Does this mean the girls should be allowed to spend money on stuff the parents object to, just because they voted for it? It depends. Should they be allowed to spend it all on candy? No, probably not. Girl Scouts teaches about healthy habits and that much candy would not be healthy. Should they be allowed to donate as much of their money as they want to an organization they choose? Yes. Should they be allowed to spend a lot of money on one activity? Yes, especially if the adults think it’s a bad idea. Though the adults can explain and try to change the girls’ minds, it is the GIRLS’ decision. It’s far better to foolishly spend money when you are 8 or 13 and learn the lesson than it is to max out a credit card at 19 because you never had the chance to learn from your mistakes safely. Always keep the long-term goal – responsible, educated adults – in mind.

Does this mean if a girl can’t attend a troop activity, she will get the same amount of troop money to do something else, on her own? No. Troop funds are spent on troop activities. While troop leaders try to find dates that work for everyone, it’s not always possible.

Everything is Shared by the Troop

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Girl Scouts believes in helping others and that includes helping each other. Not every family has the same resources to help with the sales. While the product sales teach great lessons and are the primary way troops raise money for fun activities, Girl Scouts knows and accepts that not every family can or will participate. All money belongs to all of the girls and all of the girls have an equal chance to do the fun and educational things the troop votes to do.
If the girls don’t raise enough money for their plans – for whatever reason – it’s a great lesson for the future about hard work, cooperation, and making adjustments.

Troop Dues

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Some troops pay for everything the troop needs and does with money earned from the Fall and Cookie Sales. Other troops use that money only for outings, trips, and big expenses. These troops usually have Troop Dues to pay for troop operating costs. Typically, troop dues pay for things like snacks, meeting place expenses, simple craft supplies, and badges & patches. What the dues pay for and how much they are varies greatly by troop. Troop leaders should keep a good record of how much money was collected for dues and how much was spent and adjust accordingly each year.

Fall Sale & Cookie Sale

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The Girl Scout product sales are not only a great way for troops to raise money, it gives girls incredible skills they can use throughout their lives including confidence, persistence, and goal-setting.

Participating in the product sales is optional. Every girl who participates needs to work with her family to set her own, personal goal. Troop Leaders can suggest goals, based on the activities the girls are hoping to do, but they are suggestions only.

Good records need to be kept for how many items were given to each girl and how much money has been turned in to the troop. Money must be deposited in the bank regularly.

Girl Led Financial Literacy

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Girl Scout troops are Girl Led. This means that the girls make age appropriate decisions about what to do and how to spend their money.

As with other Girl Scout activities, girls build their financial savvy as they get older. Every girl will be different, but here you’ll find some examples of the abilities and opportunities for progression of girls at each grade level.

Daisies
The troop volunteers handle money, keep financial records, and do the group budget.
Girls can participate in the official product sales to help raise money for their adventures.
Daisies are always paired with a volunteer during the product sales. Girls do the asking and deliver the product but the volunteer handles the money and keeps the girls safe.
Girls should be given the opportunity to practice identifying money and counting back change with an adult during each transaction.
Troop volunteers decide what the troop dues will be and what the money will be used for.

Brownies

The troop volunteers handle the money, keep financial records, and share some of the group-budgeting decisions with the girls.
Girls discuss the cost of activities (supplies, fees, transportation, rentals, etc.) with guidance from the volunteers.
Knowing the costs of their chosen activities, the girls work with troop volunteers to set a group goal for the official product sales.
Knowing the group goal, girls set their own personal goals for the official product sales.
Knowing what the troop dues pay for, the girls or the volunteers may decide what the troop dues will be.

Juniors

The group volunteers retain overall responsibility for long-term budgeting and record-keeping but share or delegate other financial responsibilities to the girls.
Girls set troop and personal goals for the product sales.
Girls decide on troop dues. A girl is appointed to collect it and record it, keeping track of money that is spent from the troop dues.
Working with the troop volunteers, girls create their own budget for short-term and long-term goals, including camping, special events, projects, and their Bronze Award.

Cadettes, Seniors, and Ambassadors

Girls estimate costs based on plans.
Girls determine the amount of troop dues and the scope of any money-earning activities.
Girls set troop and personal goals for the official product sales.
Girls create their own budget, including travel, camping, events, and leadership projects.
Girls may be involved in seeking donations of materials for Take Action projects, with Council Approval.
Girls keep their own financial records and report to the group.

Other Accounts

August 8, 2024Financeskaycee2418@gmail.com

Can your troop use a payment account other than its main bank account?

Yes! But…

It has to be an account dedicated for troop use. It can not be a personal account that you use for other things.

You must print out and keep statements showing all troop activity – all money coming in, all money going out.

You must include all activity from this account in your open accounting system so all troop parents are aware of it and can review it.

You must include all activity from this account on your Annual Report.

The Best Practice is to use this account from money collections ONLY. All funds should be transferred to the troop bank account, with statements from both accounts showing the matching withdrawal & deposit transactions. Any payments made by the troop should be made from the troop bank account only.

Open Accounting

August 8, 2024Financeskaycee2418@gmail.com

We are a non-profit. We must follow the IRS rules for non-profits. That means that the troop’s books must be open for any troop member or troop parent to review. For younger girls, this should be a quick update about any money the troop has earned or spent since the last meeting and how they are doing on reaching a savings goal. For older girls and parents this is most easily done by keeping the troop financial records online. This spreadsheet will help you do that: https://tinyurl.com/SVGSFinances

You may also use a paper and pen system or your own electronic system. No matter what you use, if a parent wants to review it, they have the right to do so.

All expenses must have a matching receipt. When you get your monthly bank statement, staple the receipts from that month to the statement.
Note – Bank Statements are available for pick-up at every Service Unit meeting.

All bank statements and financial reports must be kept for 7 years.

Year-End-Report

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Every fall, each troop* must turn in a Year End Financial Report no later than the November Service Unit meeting. One of the pages on the suggested “Troop Checkbook Register” spreadsheet adds up everything you need for that report, making filling it out a breeze.

What do you need to fill out this report?

If you are unsure what to do, read through the information below first. Then look over the “Year End Report” mentioned in number 3 below.

(1) You will need the troop bank statement that includes September 30th. This should be available in the distribution box at the end of the October Service Unit meeting.

(2) You will need reports showing all activity over the past year for any other accounts your troop uses – Square, VenMo, PayPal, etc. Remember, these must be accounts used only for your troop. They can not be used as personal accounts.

(3) You will need the Year End Troop Report form. As in years past, this will be a paper form. You can find it on Council’s website. Search for it by name.

(4) You will need to know what equipment your troop owns (tents, stoves, scissors, etc.)

(5) You will need to know what your troop did this past year. (The poster you made for the Annual Awards Ceremony would be helpful here!)

(6) You must turn in:

a copy of your September bank statement
copies of the reports of all activity for any other accounts the troop use
completed Year End Troop Report form.

Paper copies of the completed report (with attached documents) must be turned in no later than the November Service Unit meeting.

*Troops that are less than one year old and that did not participate in either sale the previous year are not required to turn in a report their first year. However, if you fill one out this fall, next year’s report will be smaller and you’ll have a better feel for what to do.

If you still have questions or need help, email info@simivalleygirlscouts.org.

Fund Raising

August 8, 2024Finances, Hosting eventskaycee2418@gmail.com

Your troop has big plans! And they knock the fall and cookie sales out of the park. But to make their plans work, they need more funds.

Now what?
Girl Scouts are allowed to fund raise for specific goals. There are several rules that must be followed. Among them are:

The troop must have participated in the two most recent sales. The troop must sell at least 12 boxes of cookies and 12 nuts/candies in order to be eligible to hold a fund raiser.
Fund raisers may not take place during either of the official sales (roughly October through early November in the fall and February through mid-March in the Spring).
Unlike hosting an event, fund raisers must be approved by the Service Unit.
Fundraisers can be events where other girls come and learn and do fun things or they can be garage sales and other pure fundraisers. Be aware that this can not include any games of chance where prizes are awarded to the winners. If in doubt – ask info@simivalleygirlscouts.org.
Fundraisers can not put the girls in a position where they appear to be selling things for a business or raising money for another organization. This includes (but is not limited to) restaurant fund raisers, catalog sales, and “Tupperware” type demonstration parties.
Girls are not allowed to ask directly for a cash donation. They can collect money to pay for cookies and nut sale items that will be donated through a council-approved donation program.
Girls can choose to donate some of the money they’ve raised to another organization HOWEVER they can not actively ask people to donate money to be given to that organization or display signs saying the money will be donated to another organization.
Troops must submit a Money Earning Report within one month of the end of the event. Troops who do not turn in this report will not be permitted to hold future fund raisers.

Simi Valley Girl Scouts

Building Girls of Courage, Confidence, & Character Who Make the World a Better Place

Category Archives: Finances

Disbanding a Troop

Troop Decisions

Everything is Shared by the Troop

Troop Dues

Fall Sale & Cookie Sale

Girl Led Financial Literacy

Other Accounts

Open Accounting

Year-End-Report

Fund Raising