Managing Troop Finances
Once the task of opening or updating your troop bank account is complete, carefully maintain the account with good oversight. Troop leaders are responsible for managing the account, but if monitoring and managing finances isn’t your thing, partner with the assistant troop leader or enlist the help of another volunteer to serve as Troop Treasurer.
Notify the council of any changes to the troop bank account by submitting an updated ACH Authorization Form (see below). The most common reason is rotating volunteers on or off the account.
Maintain the Troop Finance Log
Use the Troop Finance Log all year long to record troop income and expenses. Aim to update the log monthly when your bank statement is posted. It makes submitting the required year-end finance report (due May 31) faster and easier to complete.
Get the Troop Finance Log in a Google Sheets template.
Keep Clear Financial Records – and Receipts
Avoid using cash, if possible. Use checks and a debit card as a way of keeping clear financial records right in the bank statement. Keep and safely organize all paper and electronic receipts. Make all deposits promptly.
Council Rules on Funding the Fun
There are council-specific guidelines on earning and receiving money. Troop money-earning activities, aside from council product programs, must be preapproved. All donations accepted by the troop must follow council policy. See the “How to Fund the Fun” page to learn more and safely guide your Girl Scouts to achieve their financial goals.
Monitor the Troop Account Balance Often
When girls dream big, they earn big money. Be aware of the possibility of theft or misuse of funds, which is the troop’s responsibility.
Be Transparent With Troop Finances
Share the Troop Finance Log with families at least twice a year; council recommends December (after Fall Product) and May (after Cookie Program).
Communicate the intention of how the funds will be used and congratulate your Girl Scout families for their hard work and entrepreneurial know-how that helped them earn the funds to cover the troop’s expenses.
Your Money or Troop Money
Don’t use your personal money to fund the troop. You’re already donating your valuable time.
Don’t use troop funds for personal expenses, even if you plan on paying the troop back. The only income or expenses that go in and out of your troop account should be troop related. Period.