Troop banking is a very important aspect to running a successful troop as well as teaching the girls financial literacy. These financial guidelines have been developed by to help you carry out your responsibilities in managing the girls’ money, while helping them plan and conduct activities that are appropriate for their age, capabilities, and financial resources.
The Girl Scouting experience can help girls learn to manage money wisely, understand its value and develop habits of thrift, honesty and self-reliance. As you consider troop/group finances from the standpoint of the girl, remember to:
- Help girls realize that some troop/group activities cost money while others do not; talk with them about costs in relation to plans.
- Be aware of the economic situation of the girls’ families in order to set dues and costs at a figure everyone can afford.
- Help girls learn how to handle money through banking, shopping and record keeping.
- Work with girls to plan how to earn money to cover the costs of their plans.
- If you have questions, please discuss them with your service unit treasurer or membership, volunteer and program specialist.
Key Responsibilities and Requirements
- Read and understand the Troop Finance and Banking Guidelines.
- Set up your troop account through the Council, including obtaining debit cards and online banking.
- Update your bank signature card as leadership changes.
- Review or provide reports of the troop finances at least quarterly with the troop/group. Using the Annual Troop Financial Report for this makes it easy and the year-end report not as cumbersome.
- All troops/groups are required to submit an annual financial report. Prepare the Annual Troop Finance Report (reporting period is May 1st to April 30th) and submit to the Council no later than May 30th. Please be sure to share this important report with your parents. Please review the instructions before completing the annual financial report. If you have any questions after reading the instructions, please email the Troop Banking Department if you have any questions!
NEW for this year: A simpler & condensed version of the annual financial report (pilot for 2013-2014) is available that can be submitted in lieu of the ‘annual financial report’ above (excel document). Using this new report is optional. As always, you must submit an annual financial report for your troop or service unit by May 31. However, this year you have the option of using the previous (excel) version or the new (pilot) version.