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Since your troop will be earning and spending money, the troop needs to set up a bank account. These accounts must have at least two authorized signers – all registered adult Girl Scouts and unrelated. Two signatures are recommended on all checks. Request a letter of authorization from any regional office before opening the account.

Multi-grade-level troops will have only one bank account. All charges incurred by the troop bank account are the responsibility of the signers on the account. To open, close or add/delete signers on a troop bank account, request a letter from any regional office.

Annual Troop Financial Reports

• Leaders will receive a letter reminding them to submit the Annual Troop Financial report. The form will be enclosed and you must also submit a copy of the last bank statement.

• It is important that this report be completed and returned in regard to adhering to council policies and tax liability with the IRS.

• If troop income is not reported, then you can become liable for that income being taxed as your personal income.

• Forms for you to use to keep records are available from www.gs-top.org or any regional office. These forms are not to be turned in to the council.

• Do keep records of income and expenses and receipts.

• Do have more than one adult knowledgeable about troop funds.

• Do turn in the Annual Troop Financial Report each June (council policy).

• Do not borrow troop money for personal use.

• Do not mix personal and troop money.

• Debit cards or checks may be used for troop expenses, activity registrations and troop membership registrations.

Retired Troop Treasury

• When a troop is retired, all funds and troop equipment should be turned over to a regional office with an Annual Troop Financial Report within two weeks.

• If the troop is retiring because the girls are not interested in continuing, they should decide how to spend the troop funds, keeping in mind that the activities continue to reflect the Girl Scout program. Examples include a final camp-out, trip, or contribution to the GS-TOP Financial Assistance Fund.

• If a troop retires and the girls are placed in other troops, the troop funds left in the treasury will be divided equally and the money will be disbursed to the new troops the girls have joined.

Closing a Troop Bank Account

Unused Girl Scout money left in accounts when troops retire becomes the property of the council. As when closing a personal account, be sure all checks and other debits have cleared the account before you close it, and realize that you may have to close the account in person. Funds, supplies and an Annual Troop Financial Report from inactive or retired troops must be turned over to authorized council personnel within two weeks.

Service Unit Bank Accounts

If a service unit has accumulated funds, a bank account must be established and be held in the name of Girl Scouts of Texas Oklahoma Plains, Inc.

• A treasurer must be appointed to maintain records. This person must be a registered member and have completed a Criminal Background Check. It is a one-year term from June 1 – May 31.

• Treasurers will receive a letter reminding them to submit the Service Unit Annual Financial Report along with a copy of the latest bank statement.

Service Unit bank accounts must have three check signers (council policy).
Check signers for a given service unit event should not be the Event Coordinator, in order to maintain accurate checks and balances.

• Members of the service unit should vote on the use of funds in order to benefit all girls in the service unit and should follow council procedures for the use of service unit monies (council standard).

• Keep records of income and expenses and receipts.

• Turn in the Service Unit Annual Financial Report in June (council policy).

• Do not borrow service unit money for personal use.

• Do not mix personal and service unit money.

• Debit cards or checks may be used for service unit approved expenses.