Girl Scouts of the Chesapeake Bay Council, Inc

Financial Procedures

I. Setting up Your Bank Account  When setting up your bank account, select a bank that is convenient for you and your co-leader and/or signers on the account.  After you have selected the bank that meets your needs, contact GSCB Finance department to obtain a letter prior to opening a checking account. You will need to provide the Finance department, via email, with the following: 1. Troop/Service Unit (SU) number 2. Signers on the account 3. Address where the statements will be mailed (not GSCB’s address) 4. Bank name, address and fax number 5. Contact name  GSCB will fax a letter within 2 business days with the required information to your chosen bank. You will then be able to open a checking account (NOT A SAVINGS ACCOUNT) in the name of Girl Scouts of the Chesapeake Bay, troop or SU number (fill in your troop or SU number).  Please use one of the signers addresses for all correspondence, not GSCB’s address.  Do not put an address on the checks unless required by the bank.  GSCB’s Tax Identification Number (51-0064337) should be used in place of a Social Security number. The account is not a corporate account even though it has GSCB’s name in the title.  The bank will provide you with a signature card that you must complete to let them know who will have check signing authority to spend troop funds. Signers on the bank account can NOT be related nor reside at the same address.  You may get a bank account “credit card”. This card would be accepted anywhere credit cards are accepted, but SHOULD NOT have cash withdraw capabilities.  As a form of cash control and protection, the following persons should be listed on the signers card: Troop:  Troop leader  Troop co-leader  Troop treasurer SU:  SU Manager  SU Treasurer  Additional Service Team Member  You should require two signatures on every check. This way, you are not the only one responsible for spending troop/SU funds.  Here are some procedures that will assist you in managing your bank accounts: 1. Deposit all money, cash or checks, into the account promptly. 2. Pay for everything troop related with a troop/SU check or debit card. This will leave a written trail of your expenses. Always identify a payee – DO NOT make checks payable to CASH. Do not keep petty cash on hand for purchases. 3. Record every transaction in the check register, including checks that have been voided. This will provide a chronological trail of your expenses. Additionally, record a summary of your expenses on the Troop/SU Detailed Cash Record (DCR - Form 301-FM) that is due the first of December and the first of May. 4. Reconcile the bank statement monthly so you will always know what is left in the account at the end of each month. Any errors or undue service charges may result in overdraft of

300 FM 6/14 300-FM Troop Financial Guidelines the account if not addressed promptly. Any overdraft fees incurred are the responsibility of the primary account manager. 5. Record ALL transactions, including cash transactions in a receipt book and have both parties sign it. 6. Record any combined transactions separately with as much information as possible. For example, if you have proceeds from a field trip, dues or an event, list the amounts from each girl separately for each type of proceeds. 7. Do not withdraw funds from an ATM. 8. DO NOT “Swap” reimbursed expenses with ANY payment from a parent or volunteer. Each transaction is to be recorded as a separate transaction. Record all transactions in and all transactions out separately. 9. If a parent or volunteer is going to spend their own monies to later be reimbursed by the troop or SU, they should get approval prior to those monies being spent. 10. Any discrepancies should be brought to the attention of the primary account manager and reconciled within 24 hours. (Example: A personal purchase was made using the troop/SU debit card instead of the personal card.) 11. Keep parents and volunteers informed about troop or SU money matters. Bank statements, check registers and DCRs must be made available to any parent/guardian or volunteer requesting to see it.  PLEASE NOTE – If you change any information (signers, address, name, etc.) on your account, please notify GSCB Finance department to record the changes in our records. If necessary, we will provide the bank with the letter to change this information.

II. Detailed Cash Record (Form 301-FM)  The Detailed Cash Record (DCR) is an internal tool that is completed by the troop leader/ treasurer or SU treasurer and forwarded to the Service Unit Auditor by December 1 and May 1 of each Girl Scout year  All the items on the DCRs should be detailed and provide as much information as possible (see above guidelines for managing your bank account).  The SU Auditor examines the report to see that all appears appropriate from a financial management point of view. The SU Auditor will respond to the troop leader/treasurer or with any financial questions by December 15 and May 15, with response from the troop leader/treasurer required by December 25 and May 25. If there are questions that cannot be answered or if the troop leader/treasurer or SU manager/treasurer cannot provide an explanation or does not respond to the SU auditor’s requests, the SU auditor should contact Council staff immediately. Council staff will work with the S U Auditor and troop leader/treasurer or SU manager/treasurer to resolve any issues.  Any troop or SU not filing a DCR by December 1 and May 1 will be contacted by the SU auditor by December 10 and May 10 requesting submission of the DCR information by December 20 and May 20. SU auditors will inform Council of any delinquent troops or SU by December 31 and May 31. Council will then send a letter to the troop leader or SU manager (copying the Service Unit Auditor) by January 15 and June 15 requesting DCR information be submitted to Council by the January 31or June 30. If an appropriate response is not received by this date, Council reserves the right to take appropriate action, up to and including dismissal of the troop leader and/or treasurer or SU manager and/or treasurer and closure of the bank account.  The purpose of the audit is to assist volunteers and GSCB in assuring that troop and SU funds are properly managed, controlled and support the Girl Scout program. The SU auditor summarizes the individual DCRs on the Summary of Detailed Cash Records Form (Form 302-FM) and sends it to GSCB as a reference tool, along with a copy of the Detailed Cash Records by June 30. If the SU auditor does not submit the required information by June 30, Council will send a letter to the auditor, with a copy to the SU Manager, by July 15 requesting submission of

300 FM 6/14 300-FM Troop Financial Guidelines information by July 30. Failure to provide the requested information may result in dismissal from the Service Unit Auditor position.  The DCRs are required to be reviewed by the SU Auditor a minimum of twice a year. Service units must audit the Detailed Cash Records and supporting documentation for the following time periods: December 2 through April 30 and May 1 through December 1.

 Please submit copies of all the bank statements, receipts, Cookie and Fall Product Program sales reports, field trip applications and any money earning approval from GSCB with the DCR. Please keep copies/originals of all items submitted to the Service Unit Auditor.  Troops/SUs needing additional recording space may find Form 301-FM (Detailed Cash Record) on our website.  DCRs will be made available to any parent/guardian or volunteer in that troop/SU or they may be requested by the SU Auditor or GSCB staff at any given time.  Troop account balances greater than $50 per girl must be explained on the DCR.

III. Distribution of Troop Funds  Disbanding Troop Unused Girl Scout money left in accounts when groups disband becomes the property of the council. Prior to disbanding, the group may decide to donate any unused funds to a worthwhile organization, to another group, or for girl activities. When closing a troop account, be sure all checks and other debits have cleared the account before you close it. You will have to close the account in person. Get a cashier’s check from the bank for the remaining funds and send to the Council, care of the Finance Department with the troop number on the check.

 Troop Transfers Pursuant to IRS regulations regarding our 501(c)(3) non-profit status, proceeds received by a troop/group are non-transferable. Girls who leave the troop or leave Girl Scouting are not entitled to proceeds earned while in the group when they leave.

IV.Contributions to the Troop or Service Unit On occasion, an organization or corporation will make a donation to a specific troop or service unit in support of an activity or in recognition of a volunteer’s hours of service. Tax deductions require written acknowledgement of the gift from a 501(c)(3) organization; 501(c)(3) is part of the Internal Revenue Service that grants GSCB not-for-profit status. Troops or service units receiving any donations over $10 must follow the reporting guidelines on Form 304-FM Guidelines/Report on Receipt of Money for troops/service units and Form 305-FM Report of Club Organization Donation. If you have any questions about any of the above topics, please call GSCB’s Finance department at 302-456-7163 directly or toll free at 800-341-4007.

300 FM 6/14 300-FM Troop Financial Guidelines