Tips for Financial Success G
irl Scouts is girl-led—and that includes finance. From start to finish, our girls help plan their troop activities, even the budget part. Here are some tips on how to conquer your year financially.
Know your deadlines. Know your deadlines for important financial reports like the Troop Finance Report—due October 1. Due every year, it includes revenue, expenses, bank statements, and requires 3 non-related adult troop members to verify. Follow the troop financial guidelines. Whether you are leading a new troop or the troop you’ve led for years, make sure you read up on the Troop Financial Guidelines. Keep all finances girl-led and transparent. Transparency with troop finances is the most important thing to remember when dealing with troop funds! The troop earns the money together and everyone should have knowledge of how those funds are being used. A good way to do this to provide regular financial updates, as well as making sure girls are making choices on how to spend what they earned. Limit ATM/cash withdrawals for troop expenses. If cash is needed, document what it is for on the withdrawal receipt. Maintain a paper trail. Each transaction appearing on the troop’s account should have an explanation, including receipts, signed forms, etc. Keep troop funds and inventory safe. When troop funds are acquired, make sure to deposit it as soon as possible. Avoid holding onto troop funds for extended periods of time. Budget your troop earnings. Try using the 1/3 rule of thumb. This guideline suggests dividing troop earnings into 3 groups—troop expenses, troop activities, and troop take action plans. Check gsLearn. Keep an eye out for our upcoming Troop Finance Training on gsLearn.
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TROOP GUIDELINES
