Helping girls decide what they want to do, and coaching them as they earn and manage money to pursue their goals, is an integral part of the Girl Scout Leadership Experience (GSLE). With your guidance, your Girl Scout group will plan and finance its own activities while the girls learn valuable financial skills that serve them throughout their lives.
Girl Scout groups are funded by a share of money earned through council-sponsored product sale activities (such as Girl Scout cookie activities), group money-earning activities (council-approved), and any dues your group may charge. This chapter gives you the ins and outs of establishing a group account and helping girls manage their group’s finances and understand how to collaborate with sponsors and causes.
Because Girl Scout troops earn and spend money, every troop/group needs to have a bank account. If you are taking over an existing group, you may inherit an existing checking account, but if you are starting a new group, you’ll want to work with your service unit treasure or council treasurer liaison to open a new account as soon as possible. All troops/groups must have an open bank account before they can be approved to participate in any money earning or product programs.
Keep in mind the following when working with troop funds:
- All money in the troop or group’s account belongs to the girls, and should be treated as such.
- Receipts and records are required for all use of group funds. They must be kept for at least two years plus the current year and may be requested at any time by GSOSW.
- Commingling of personal funds with group funds is never allowed.
- Avoid withdrawing cash from the group account. Debit cards are the preferred method of payment for groups and troops because of the ease of record keeping. Checks may also be used by the troop if needed. If it is absolutely necessary to carry group cash, receipts must be turned in and kept with the group records showing the amount of cash withdrawn from the account, and how it was spent. Excess cash must then be deposited into the group account when the event is over.
Please review the Group Finance section of the GSOSW Council Volunteer Policies and Procedures for additional requirements and processes for opening bank accounts under the bank account section.