BANKING & FINANCIAL RECORD-KEEPING Please keep this for your own reference.

Transcription

1 BANKING & FINANCIAL RECORD-KEEPING Please keep this for your own reference. 1. Troop funds must be held in a designated Girl Scout bank account. 2. All Troops are required to open a bank account with two authorized signers for the deposit and withdrawal of funds. They must be registered adults from the Troop/Group who are not related or sharing a home with each other. One signer must be a Service Unit Team member, usually the SU Money Manager. 3. The Troop Bank Account Information form is to be completed annually (regardless of whether or not there are any changes) and submitted to the Service Unit Money Manager by June 30 th of each year (or immediately after opening a new account or making changes to any existing account). 4. All bank accounts must be opened using the following account name: GSCNC Troop #### 5. All bank accounts must use Tax ID # GSCNC Troop bank accounts are recommended to have ATM/Debit cards. Credit cards are not permitted. Online banking is permitted. 7. Preprinted checks should include the Account Name as above (see 4). No volunteer s name should be printed on the checks 8. All checks written on Troop bank accounts must always be made out to the payee, never to Cash. Checks should not made out to the person signing the check; however, there are some small troops with only one adult. For these troops, the leader should submit a request for reimbursement to the SU Money Manager for approval PRIOR to writing a reimbursement check. 9. Authorized check signers are responsible for verifying itemized receipts for all Troop expenses, including reimbursements, and ensuring that receipts are kept with the corresponding bank statements. All records must be available to GSCNC Regional or Finance staff upon request, and retained for a minimum of three years (per IRS). 10. All Troops/Groups must submit the Troop Financial Report, accounting for all funds received and spent by the Troop/Group, to the Community Accounting Coordinator on or before December 31 st and June 30 th each year. The report must be verified and signed by all authorized signers on the bank account and accompanied by the most recent bank statement. 11. Random audits of Troop/Group and Community bank accounts will be conducted each year by GSGWM Finance staff. Selected Troops/Groups and communities will be required to provide all bank account statements with corresponding expense receipts, check registers and/or Detailed Cash Record forms within 30 days notice. 12. Failure to comply with these policies may result in appropriate Council action including, but not limited to, staff oversight, termination from the volunteer position, and/or restrictions on further Troop/Group fundraising activities. Revised March 2012

2 Position Description - Troop Money Manager ROLE: Accurately manage the financial activities of the troop, including writing checks for events and purchasing needed supplies, support for fundraising activities, reimbursement of troop expenses, and maintenance and reconciliation of the troop bank account. Regularly report to the troop parents on account status and balance. Provide consultation to troop Leaders on appropriate troop expenses. Track troop bank account activities. TYPICAL DUTIES AND RESPONSIBILITIES: 1. Accurately account for funds raised in the name of the troop and regularly report checking account activity and balances to the leaders and parents of the troop. 2. Reconcile bank statements with the checkbook and debit card and follow up with bank with questions and/or errors. 3. Provide semi-annual reports to SU Money Manager. Use the Troop Financial Report, reporting by December 31 st and June 30 th of each year. 4. Provide support for sound troop money management to the troop leaders: Provide consultation on appropriate troop expenses. Reimburse appropriate troop expenses with receipts only and ensure that all troop reimbursements are handled within guidelines given. Deposit money in the troop account and write checks for troop expenses. Help to resolve troop money related issues, including troop debt and bounced checks. Serve as liaison between the SU and the troop if financial issues occur. 5. Establish the troop account: Use Federal Tax ID# for free banking. Request authorization letter from council if necessary. Request troop debit card. Utilize the guidance of the SU Money Manager if needed. 6. Annually ensure and report that the following signatures are on the account: SU Money Manager and Troop Leader, Troop Co-Leader, and Troop Money Manager as applicable. 7. Coordinate the closing of the troop account and the disbursement of funds if the troop disbands or girls bridge to other levels. QUALIFICATIONS: (volunteers must be able to) 1. Register as an adult member the Girl Scouts of the USA. 2. Complete the Volunteer Position Application process. 3. Accept and adhere to the purpose and principles of Girl Scouting. 4. Show a willingness to work with diverse groups with varying lifestyles and cultures in a positive manner. 5. Recognize, understand, accept, interpret, and support all council goals, policies, guidelines, and objectives, including the Human Relations Policy Statement. 6. Complete required training. 7. Owe no outstanding debts to the council. 8. Understand basic money management skills. METHOD OF SELECTION: Selected and appointed by Troop Leader ACCOUNTABILITY: Accountable to the Troop Leader and SU Money Manager TERM OF POSITION: Appointed annually. Adapted from GSCNC Troop Money Manager Position Description to accurately reflect expectations within service unit.

3 Troop Money Manager Checklist Contact your Service Unit Money Manager for assistance as needed. Name Assoc SU Service Unit Money Manager Telephone Field Director Telephone Place a check in the left column as you complete each task listed below: Beginning Paperwork Complete GSCNC Volunteer Position Application OnLine Submit GSCNC registration and $12 fee (financial aid available) Obtain a copy of Volunteer Essentials Sign the Appointment Letter from Troop Leader Bank Account Locate a bank with free non-profit checking Submit request for Letter of Authorization to open an account ( Establish bank account in the name of GSCNC Troop #### Ensure a SU signor is on the account as well as troop leader Request debit card and checks if desired Do not have address, telephone or name printed on checks Troop Review and understand financial and sales abilities of my troop level (see Volunteer Essentials). Ensure girls are part of decision process for dues, money-earning and uses of collective funds Keep parents informed of how troop money is spent Transactions Obtain Sales Tax Exempt card from SUM and use for all troop purchases Reimburse volunteer and parent within 2 weeks, receipts required Provide reports to Service Unit Money Manager as requested. Troop Bank Account Information by June 30 th, Troop Financial Report semi-annually, December 30 th and June 30 th.

4 VOLUNTEER APPOINTMENT LETTER TROOP MONEY MANAGER Having successfully met the position qualifications,, is appointed to the position of Troop Money Manager for the period of to. The volunteer agrees to fulfill the role, duties, and responsibilities of the position while working in conjunction with the Troop Leader and with accountability to the service unit money manager and field director. ROLE: Accurately manage the financial activities of the troop, including writing checks for events and purchasing needed supplies, support for fundraising activities, reimbursement of troop expenses, and maintenance and reconciliation of the troop bank account. Regularly report to the troop parents on account status and balance. Provide consultation to troop Leaders on appropriate troop expenses. Track troop bank account activities. On-Target Duties and Responsibilities: YES NO Accurately account for funds raised in the name of the troop and regularly report checking account activity and balances to the leaders and to parents of the troop. Reconcile bank statements with the checkbook and debit card and follow up with bank with questions and/or errors Provide monthly bank statements with receipts for all transactions attached to SU Money Manager at monthly SU meetings or quarterly. Provide support for sound troop money management to the troop leaders: Provide consultation on appropriate troop expenses Reimburse appropriate troop expenses with receipts only and ensure that all troop reimbursements are handled within guidelines given Deposit money in the troop account and write checks for troop expenses Help to resolve troop money related issues, including troop debt and bounced checks Serve as liaison between the SU and the troop if financial issues occur Establish the troop account: Use Federal Tax ID# for free checking Request authorization letter from council Request troop debit card Utilize the guidance of the SU Money Manager as needed. Annually ensure that the following signatures are on the account: SU Money Manager, Troop Leader, Troop Co-Leader, and Troop Money Manager Coordinate the closing of the troop account and the disbursement of funds if the troop disbands or girls bridge to other levels

5 VOLUNTEER APPOINTMENT LETTER: TROOP MONEY MANAGER (page 2 of 2) On Target QUALIFICATIONS: YES NO Register as an adult member of the Girl Scouts of the USA. Date: Complete the Volunteer Position Application process. Date: Accept and adhere to the purpose and principles of Girl Scouting Show a willingness to work with diverse groups with varying lifestyles and cultures in a positive manner Recognize, understand, accept, interpret, and support all council goals, policies, guidelines and objectives, including the Human Relations Policy Statement Complete required training. Date: Owe no outstanding debts to the council Understands basic money management skills I,, Troop Money Manager, agree to fulfill the duties and responsibilities as listed above and have met or will meet all qualifications as listed. I understand that failure to fulfill these responsibilities and/or qualifications could result in my not being re-appointed and/or dismissal from this position. Signature Date Number of Years in Position Signature: Troop Leader Date Signature: Service Unit Money Manager/Troop Leader Date The back of this form may be used to expand on the duties and responsibilities of this position and or the volunteer's role in meeting them.

6 TROOP BANK ACCOUNT INFORMATION Membership Year To be completed and submitted annually to Service Unit Money Manager by June 30 th of each year. Troop #: SU #: Date: Bank Name: Branch Location: Branch Telephone Number: Account Number: Closed? Date: SIGNERS There must be a minimum of two signers on the account, all of whom must be registered Girl Scout adults who are not related or in the same household. One signer must be a Service Unit Team Member. 1. Leader SIGNATURE Phone Numbers 2. Street Address Co-Leader SIGNATURE Town/State/Zip Phone Numbers 3. Street Address Service Unit SIGNATURE Town/State/Zip Phone Numbers Street Address Town/State/Zip The bank account must be opened in the name of: GSCNC Troop # or Group name Tax ID to be used on bank accounts is: Complete this form and mail immediately after opening, changing or closing an account. NOTE: When you are reporting a closed account with a remaining balance, the balance must be accounted for and reported to the Service Unit Money Manager with this form. As signers on this account, we authorize GSCNC to access any information about this account, and to initiate debit and /or credit entries to this same account. Please attach a voided check with this form upon opening a new account. Make a copy for your records

7 Troop Financial Report Contact your Service Unit Money Manager (SUMM) for assistance as needed. To be submitted to SUMM by December 31 st and June 30 th each year. Report for December or June of (year) Troop Assoc SU Account Name Account Number Bank Name and Address Branch Troop Income Amount Troop Expenses Amount Opening Balance $ $ GSUSA Registration # people x $ $ GSUSA Registration (paid to GSCNC) Troop Dues $ Program/Activity Costs $ Fall Product Sales $ Craft Supplies $ Cookie Sales $ Equipment Purchases $ $ Other Money Earning Events $ Recognition Expenses Girls $ Donations $ Recognition Expenses Adults $ $ $ Total Income $ Total Expenses $ Ending Balance = Total Income Total Expenses = $ Signature of Troop Money Manager or Preparer: Date: Approved: