As a volunteer, here’s what you need to know about troop banking.
Step 1: Read Volunteer Essentials: Troop Finances. This will set you up for success when managing troop funds and proceeds.
Step 2: Set up your account! Be sure to submit the Bank Account and ACH Authorization Forms to us, which is required to get your bank account established. See important details listed below prior to opening the account.
Step 3: Update banking information. If there has been any changes to your troop leadership or if your troop has disbanded, split, or merged with another troop it is essential that this information is updated with us and your financial institution. Submit a Bank Account Form that includes the changes and reason for the change right away.
Step 4: Use our handy Annual Financial Report Monthly Template to organize your finances throughout the year.
Review the details below prior to opening your account:
- All Troops and Service Units will establish an account at a federally insured institution.
- All accounts are required to be opened in the name of Girl Scouts of Montana and Wyoming Troop #______ . All accounts will be opened under GSMW’s Council Federal Tax ID #. An authorization letter, with this information will be sent to the primary signer from the Girl Scout Council Accounting Department. It must be presented, by the primary signer, at the bank to open or update the account.
- Each account will have two non-related registered eligible GSMW members as signers on the troop account. No current board member, board committee member, or staff are permitted to be signers on the troop accounts.
- One debit card may be issued per troop or service unit bank account. Online banking is not permitted
- Troops MUST opt out of overdraft protection for the debit card if it is offered by the bank.
- An annual year-end Financial Report, along with a copy of the May bank statement and receipts, must be submitted to council by June 30th of each year. Failure to provide the year-end Financial Report may result in closure of the account.
- Non-sufficient funds activity is not allowed on any Girl Scout account and may result in account closure. A signer’s name may be removed from the account at the discretion of the council.
- All money raised, earned and other assets received in the name of and for the benefit of Girl Scouting must be authorized by a Girl Scout Council or GSUSA and used for the purpose of Girl Scouting. Such monies and assets become the property of and are administered by the Girl Scout Council or GSUSA. Such assets are not the property of individuals, geographic units or communities within a Girl Scout Council. Adapted from Girl Scout Leader’s Digest Blue Book