Welcome to your third training module in the Volunteer Basic Training - PDF document

Welcome to your third training module in the Volunteer Basic Training Series, Finances and Safety! 1

Before we dive in, let’s briefly go over what you can expect as a new troop leader. This is the third of three training modules you'll complete before you meet with your troop. This training module, “Finance and Safety” will walk through how to fund your fun and keep your girls safe. The other two training modules are “Welcome to Girl Scouts,” which introduces you to Girl Scouts, being a troop leader, what girls do, and “Logistics and Resources,” which will teach you how to run your troop meetings. After completing these three training modules, we will ask you to complete a Knowledge Check. Once you’ve completed the knowledge check, you will receive an Approval Letter in your email. This email will provide more information about your Service Unit, grade-level training, and additional resources as you get started with your girls. 2

Are you wondering yet how you’ll fund the fun? Let’s take a quick look at how you’ll do that. Troop activities are powered in two main ways: troop dues and money-earning activities. Troop dues will provide you with startup funds for basic meeting supplies and can support your girls in earning their badges. Dues can range from a few dollars per meeting to a lump sum for the entire school year—whatever works best for your troop. This should be something you discuss with parents and caregivers at the family meeting. (Troop dues are in addition to the $25 membership fee that go to the national organization). Girl Scouts also has two primary money-earning activities: the fall product program and the cookie program. The benefits are twofold: these programs allow girls to learn essential business skills, while providing key funding for your troop. Product Program sales offer girls and troops the opportunity to earn funds for Girl Scout activities while also practicing five important skills: goal setting, decision making, money management, people skills and business ethics. With the support of your Service Unit Manager and Product Program Manager, each troop will build a Cookie team to ensure the program is enjoyable and successful. After attending the Troop Leader Cookie Training, as 3

well as working with your Service Unit Product Program Manager, you’ll feel confident and ready for your troop to participate in the fall and cookie programs. Keep an eye on your email – we’ll send you lots of great information for how to participate in the fall and cookie product program sales as they arrive. 3

Volunteer Essentials is your encyclopedia of Girl Scouting and a reference guide for all you need to know to make Volunteering fun and safe for everyone involved. It is a national handbook for all adults in Girl Scouting, with particular emphasis on those who work directly with girls. Chapter 5 of Volunteer Essentials covers the ins and outs of establishing a group account and helping girls manage their group’s finances, practice successful product- sales techniques, review the safety requirements around product sales, and understand how to collaborate with sponsors and causes. But first you’ll need a bank account! 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). Your Girl Scout group plans and finances its own activities, with your guidance. At the same time, the girls learn many valuable skills that serve them throughout their lives. 4

If your troop is earning and spending money, you need to set up a bank account. If you’re taking over an existing troop, you may inherit a checking account, but with a new troop, you’ll want to open a new account. This usually happens when there is money to deposit, such as troop dues or money from product sales or troop money- earning activities. The following procedures apply to all troop/group accounts: First you must complete the Volunteer Basic Training Series and take the Knowledge Check. Once that’s been completed you will Receive the Bank Letter from GSWNY’s Volunteer Experience Team. We will talk more about that on the next slide. You’ll need to connect with your Service Unit Finance Consultant to find out which banks the Service Unit typically uses. Their information will also be in your approval letter. Then you’ll identify 2 unrelated individuals to be signers on the Troop bank account. Married couples are considered related in this instance, and cannot be the two signers. The third signer must be a member of the service unit leadership team - most often the Service Unit Finance Consultant. 5

The Bank letter gives you the council’s Federal Tax ID number to supply to the bank. The letter also authenticates your identity as a GSWNY volunteer. Follow the printed instructions, open the account with the troop volunteers, and keep a copy of the completed letter. Please note that the three people on the bank signature card cannot be related to each other, including by marriage. Also, no overdrafts from checks, or debit card withdrawals should be allowed when there are insufficient funds available in the account. Accounts may be opened at the financial institution (including credit unions) that is most convenient for the troop volunteers and the SUFC. Each bank may have specific requirements for opening accounts, but all will require photo identification for signers along with each signer’s social security number. This is a federal requirement and is for identification purposes only. The Council’s tax identification number is the number that is associated with the account for income tax and legal purposes. If the bank has a question or needs additional information from Council, please have them contact our Chief Financial Officer via the contact information on the letter. Once you’ve opened your account, you will need to report your bank account information 6

the council using the Troop Bank Account Reporting form. We’ll send you this form in your approval letter, once you’ve completed all three training modules in the Volunteer Basics Training Series and complete the Knowledge Check. 6

Accounts shall bear the name of the Girl Scouts of Western New York, and must include the troop/group number or service unit name. A minimum of two signers is required for withdrawals and troops are prohibited from using internet banking (except viewing the account online). Please note that if a troop or service unit utilizes debit cards with the account, the bank will only require one signature on checks. Two signers should still sign all checks, since this is a GSWNY requirement and is part of our internal checks and balances that assist in prevention of misuse of funds. Debit card receipts should be signed by a second signer after the purchase is completed. Debit Cards are allowed, but credit cards are not permitted to be issued or used with the bank account. All receipts/disbursements should be processed through the bank accounts, and the mandatory on-line Troop Financial Activity Report (TFAR) detailing the troop’s income and expenses - is to be submitted once a year. See “Finance Reporting” section in Volunteer Essentials for more information. The designated signers are not authorized to conduct any other business on behalf of the council or to access any accounts the council may maintain at the bank except for those specific to the their subordinate unit. Security of troop funds is essential- the bank account should be reconciled monthly and all 7

transactions reviewed. Best practices are that not one individual manages the account and reconciles to the bank statement. If this is not possible, a timely review process should be in place where a second person reviews the bank statements and reconciliations. All troops are required to submit their financial activity reports for review using the finance tab on VTK. This is used as an opportunity to make sure that the girls’ money is being spent appropriately and to check in with the troop leaders to verify that they are keeping all their receipts and documentation. Remember- troop funds are for the benefit of all girls in the troop and the bank account should be managed and safeguarded so that the troop has maximum benefit from their efforts and minimum exposure to fraud and other losses. 7

The Finance Tab is a great tool on the Volunteer Toolkit that you will use for recording troop finances. Log onto the Volunteer Toolkit from MYGS/VTK on our website and it’s the last tab on the right. The Finance Tab has two purposes: first, a tool to record your troop’s ongoing expenses and income, and second, the method for submitting your ANNUAL Troop Finance Report in June. Both Co-Leaders in the troop will be able to access the Troop Finance Tab. There you will record your ongoing troop expenses and income. We recommend that you update your troop finance balances at least monthly. The benefits of keeping the activity updated are two-fold. The parents will be informed on the troop’s financial status and most importantly, the end of year report submission will be quick and easy. In June, the co-leader who maintains troop finances will use this Tab to submit a yearly Troop Financial Activity Report to Council. 8