Finance Policy

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Troop/Group/Service Unit Finance Policy

General

All money, equipment, and other assets acquired by a troop/group/service unit for the benefit of Girl Scouting are the property of the Girl Scouts of the Jersey Shore. Such assets are not the property of individuals.

Bank Accounts

Troop/group funds must be held in a bank account in the name of the Girl Scouts of the Jersey Shore Troop/Group number. For example, Girl Scouts of the Jersey Shore Troop 0000. Service unit funds must be held in a bank account in the name of the Girl Scouts of the Jersey Shore, by the service unit name. Accounts must use the Council Tax ID number. Mailing address for bank statements should be addressed to the person in the troop/group/service unit responsible for finances. Each account shall have three authorized signatures, one of which shall be the service unit manager or designee. After the account is opened, a Bank Account form must be completed.

Financial Reports

Every troop/group/service unit shall submit annual financial reports.

Buying Supplies / Reimbursement of Funds

Supplies, equipment, goods and services purchased for troop/group/service unit use may be reimbursed or purchased directly from the troop/group/service unit account. All claims for reimbursement of expenses must be submitted to the troop/group/service unit by July 31st of the year the supplies were purchased. Any withdrawals from the account must be indicated on the end of year financial report.

Disbanding Troops

In the event a troop/group disbands, its bank accounts and all other assets, equipment, and supplies shall be re-allocated to the service unit. The leader/s or treasurer shall issue a check for the remaining funds and close the account. The service unit shall hold funds, assets, equipment and supplies from disbanded troops/groups until the end of the Girl Scout year. The funds, assets, equipment, and supplies may then be re-distributed at the discretion of the service unit manager.