MEET THE FINANCE TEAM
ALICIA ROBERTS CHIEF FINANCIAL OFFICER
TERRA BENTLEY FINANCE SPECIALIST
NATALIE WEAVER ACCOUNTANT
STEPHANI VICK FINANCE SPECIALIST
HOWTOSETUPANEW BANKACCOUNT
YourEngagementManagerwillguideyou throughtheprocess,whichisprettystraightforward.We’llwalkthroughthestep-by-stepin thefollowingslides.
We’vemadeiteasytosubmitwithanonline requestformthatlookslikethis bit.ly/P2PNewBank
Want to check it out now? Scan this QR code with your smartphone’s camera!
NEW BANK ACCOUNT
STEP-BY-STEP PROCESS
1.Determinetwo(2)+signersforyourbankaccount–ThesewillbeyourBankingSpecialists.
✓Mustbeunrelated,approvedGirlScoutvolunteersinseparatehouseholds
✓MustbearegisteredmemberofGSUSA/GSCP2Pandpassacriminalbackgroundcheck
✓Mustbeingoodstandingwiththecouncil
2.Decidewhichbanktouse–ChoosebetweenTruistandFirstCitizensBank GSCP2PhasacorporaterelationshipwiththesebanksandtheuseofTruistorFirstCitizensis requiredunlessabranchisnotreasonablyaccessible.Theuseofanyanotherbankmustbe approvedbytheFinanceDepartmentpriortoopeninganaccount. 3.SubmittheNewBankRequestFormonline–
NEWBANKACCOUNT STEP-BY-STEPPROCESSCONTINUED
5.VisityourlocalTruistorFirstCitizensbranchtoopentheaccount–Werecommendcalling aheadtorequestanappointmentwithsomeoneexperiencedinsettingupGirlScoutaccounts.
AllapprovedsignersmustbepresentwiththeirIDsandpersonalizedBankApprovalForm. TruistandFirstCitizenshaveestablishedproceduresforopeningaGirlScoutaccountand typicallydonotrequireadeposit.
DigitalBanking:Truistcansetuponlinebankingaccessatthebranch.Thecouncilcanassist withtheFirstCitizensonlineaccess.
DebitCards&Checks:You’llordertheseatthebranchwhensettinguptheaccount.Besurethe mailingaddressandcontactinfoisgoingtoyourtroopBankingSpecialistsandnotthecouncil.
Issues?Ifyourunintoissuesatthebranch,contactyourEngagementManagerorsendane-mail toinfo@girlscoutsp2p.orgwiththisinfo:
NEWBANKACCOUNT
STEP-BY-STEPPROCESSCONTINUED
6.ReturnthecompletedandsignedTroop/SUACHAuthorizationFormtoyourEngagement
Manageratinfo@girlscoutsp2p.orgonceyourbankaccountisestablished,nolaterthantwoweeks.
Thislaststepsignifiescompletionofthechangeprocessandwillinitiatethe$50newtroopstartupfundsandFirstCitizensonlineaccess,ifapplicable.
AllBankingSpecialistsmustfilloutandsignthisformtobevalid.Thisincludesthe acknowledgementandagreementbetweentheBankingSpecialistsandGSCP2P.Withoutit,you maynotbeabletoparticipateintheFallProductProgramorGirlScoutCookieProgram,lose eligibilityforcookieboothlotteriesandmore.
AnupdatedTroop/SUACHAuthorizationFormisrequiredanytimethereisachangein
BankingSpecialists(add/remove)andmayberequiredonaregularbasistoensureourcouncil hasthemostaccurateinformationonfile.
AllBankingSpecialistsmustfillout,sign andreturnthisTroop&SUACH
AuthorizationFormto info@girlscoutsp2p.orgwithintwoweeks! bit.ly/P2PACH
NEWTROOPACCOUNT STARTUPFUNDS
Yep,youheardthatright–freemoney!
GSCP2P understands that there are a lot of expenses in starting a new Girl Scout troop and we would like to help! All new, first-time troop accounts will receive a $50 start up deposit after completing the new bank account process and returning their Troop/SU ACH Authorization Form.
The finance team will use the information on that form to transfer $50 into the troop’s bank account for start-up funds within two weeks of receiving the completed form.
These funds may be used for things like:
Meeting supplies (paper, pencils, crayons, markers, crafts, etc.)
First aid kit
Receipt book Ordering checks Girl Scout curriculum
We’vemadeiteasytosubmit withanonlinerequest form,whichlookslikethis bit.ly/P2PBankChange
Wanttocheckitoutnow?ScanthisQR codewithyoursmartphonecamera!
BANKINGSPECIALISTCHANGES
GSCP2Punderstandsvolunteerroleschange.Ifyouneedtoaddand/orremoveaBankingSpecialist, thetroopleader/SUvolunteerneedstosubmitarequestformonline,whichwillgotoyour
EngagementManagerforreview:https://bit.ly/P2PBankChange
NextSteps:
TheCustomerCareTeamwillcompletethemembershipconfirmationandbackgroundchecks foranynewsigners
YourEngagementManagerwillassignnewsignersthegsLearnBankingSpecialisttraining Oncecompleted,theFinanceTeamwillprepareande-mailyoutheformsyouneedtotaketothe bankbranch:
AnupdatedBankApprovalFormlistingthenewandretainedsignersonly ABankChangeLetterwithourCFO’sapprovalofthechange. Taketheseformstoyourlocalbranchwithallnew/retainedsignerspresentwiththeirIDs
Whenatthebankbranch,itisimportanttomakesurethebankupdatesthesignernamesand contactinformation,onlinebankingaccess(forTruist,asGSCP2PcanassistFirstCitizensBank) andordersnewdebitcardsand/orchecks(ifneeded).
BANKINGSPECIALISTCHANGES
Return the completed and signed Troop/SU ACH Authorization Form to info@girlscoutsp2p.org once your bank account changes are complete, no later than two weeks: bit.ly/P2PACH
This last step signifies completion of the process, which will effectively remove any old bank signers and will notify us to set up First Citizens online access, if applicable.
If you don’t return an updated form, we may not know who is on the bank account and who to contact in case of questions, product program authorizations or financial concerns.
MANAGING A TROOP BANK ACCOUNT BEST PRACTICES
Always maintain two signers for the bank account. If one volunteer plans on leaving the troop or is no longer able to fulfill their Banking Specialist role duties, recruit another volunteer to fill the spot before it is vacated and submit a Bank Change Request form.
Maintain accurate contact information with the bank. e.g., Account signers, contact information, mailing address (the 2nd signer’s mailing address – not GSCP2P), etc.
Only keep a single troop’s funds in the account. Each troop should have their own account.
Deposit money as soon as possible and at least weekly.
Never sign blank checks or write checks payable to yourself. Reimbursement checks must be made payable to one signer and the second signer must sign the check.
Bank accounts are required to participate in our product programs (Fall Product Program and Girl Scout Cookie Program). These accounts under the GSCP2P umbrella keep all the girl’s funds in a central place for transparency, accountability and ease of access.
Regularly report financial activity and current cash balance regularly to the troop and parents. Transparency is key to successful troop treasury management.
Understand the Girl Scout Cookie Program and Fall Product Program process and ACH timeline – ensure there are sufficient funds available before ACH draft dates.
Prepare and submit the annual troop EOY financial report by the deadline.
Communicate with your Engagement Manager if there are questions or concerns.
BANKREVIEWS&AUDITS
Abankrevieworauditcanberequestedatanytimebyatroopmember,leader, parentorGSCP2Pstaffmember.GSCP2Pcanconductarandomauditatanytime. Troopaccountsaresubjecttoauditonaquarterlybasisorasneeded.
Abankreviewshouldbecompletedwhenthereisachangeinleadership,suspected misuseoffunds,attheendofyearandseasonallyasneeded.
How It Works:
One of the events above spurs a review/audit request to the Finance Team Finance Team pulls bank statements and reviews for areas of concern
If there is more information or documentation needed, the Finance Team compiles a list and sends a request to the Banking Specialists to respond within 72 business hours Banking Specialists respond with copies of receipts, approvals or provide other documentation justifying the charges as troop/SU-related activities
If misuse of funds or fraud is suspected or the Banking Specialists are non-responsive, the case will escalate to the CFO and Senior Director of Engagement. Senior Management will collaborate with Engagement and Finance team members to create a plan of action and next steps, which could include legal action, civil claims court and/or collections. Service unit and troop parents may also be contacted to make them aware of the potential issue.
BANKINGFAQS
DigitalpaymentsareonlyauthorizedtobetakenthroughDigitalCookie,theGSUSA-approvedonline cookiesaleplatform.Troopsorserviceunitsarenotauthorizedtosetuporusepersonaldigitalpayment accountssuchasVenmo,CashApp,Zelle,PayPalandothers.
Sincetheseappsareintendedtobeusedbyindividualstotransferfundstopeopletheypersonallyknow, theseaccountscannotbesetuporusedbytroopsand/orserviceunitstotransferfundsasthereisno protectionfortroopsorserviceunitsifthepersonsendingmoneydecidestocanceltheirtransaction–the troop/serviceunitwouldbeoutthemoneyandtheproduct.
Personal accounts: Please don’t do it! Using personal digital payment and/or bank account for troop/SU money can open the Banking Specialists up to taxable sales liability and the council is unable to help them in the case of an IRS audit. These personal transactions can also cause issues with bookkeeping, product program reconciliation and in the case of a council bank audit.
Personal purchases made accidentally on a troop/SU bank card should be reimbursed by a check or cashier’s check made out to the troop/SU and deposited within 10 days of the erroneous charge. Include the charge vendor name, date and amount in the memo line.
Check reimbursements should include the receipt and the payee should always be a different name from the signer- that’s why there are two Banking Specialists. Avoid cash/ATM withdrawals.
ATM or cash withdrawals should always have supporting documentation and receipts kept on record.
Fraudulent transactions or charge disputes should be handled by talking to the bank directly– call the number on the back of your debit card.
Fearnot!Youcanfindalloftheseguidesandformlinksonour website,www.girlscoutsp2p.org!
