Use the Troop Merge/Disbanding Process.
No matter how much your troop plans on saving or spending, you’ll need a safe place to deposit your troop dues, product sale proceeds, and other funds. If you’ve stepped up to lead an existing troop, you may inherit a checking account, but with a new troop, you’ll want to open a new bank account.
Here are a few helpful tips:
- Girl Scouts of Gulfcoast Florida has a partnership with Wells Fargo. This is the only banking institution where troops establish an account. There are council-specific instructions for setting up the troop bank account. These procedures are shared with account holders as a part of the onboarding process.
- Designate a troop treasurer, that is, one person who is responsible for troop funds and for keeping a daily account of expenditures.
- Ensure your account is opened as a “Simple Business Checking Account” which comes with a debit card that you can use during activities or trips. These transactions are easier to track at the end of the year.
- Be prepared like a Girl Scout, and make sure another troop volunteer has a debit card accessible for the troop account in case the main card is lost.
- Handle a lost troop debit card the same way you would a personal debit card: cancel it immediately.
- Keep troop funds in the bank before an activity or trip and pay for as many items as possible in advance of your departure.
Follow these financial policies and procedures for setting up an account. Most council-sponsored product program activities have specific banking and tracking procedures. Each troop must submit finance reports annually by June 1.