Now that the Girl Scouting year is in full-swing, it’s a good time to get a refresher on troop checking accounts! Each Girl Scout troop is required to have its own checking account at the financial institution of your choice. You will want to choose a financial institution that has a convenient location for your troop’s needs. In addition, you’ll most likely want to choose a place that does not charge monthly banking fees. When opening your checking account, you will need to bring with you the Prospective Financial Institution form.
The account should be in the name of Girl Scouts of Eastern Missouri, Inc. and the troop number assigned to you by your Neighborhood registrar. The account should have at least two unrelated adults listed as authorized signors.
Troops cannot possess debit cards or credit cards, nor should the troop have a savings account in addition to the checking account. Troop checking accounts should not be involved with online banking and no loans related to the account should be issued. Troop bank accounts should not be approved for overdrafts, nor should the troop have automatic overdraft protection.
It’s very important to keep records of monthly bank statements and receipts throughout the year. At the end of each school year, the troop treasurer and/or the Troop Leader are required to turn in a troop financial report to your Neighborhood manager. Documentation of your troop’s activity will ensure that any potential questions or concerns regarding your troop’s checking account can be verified.
If you’d like more information or if you have any questions concerning troop checking accounts, check out the Troop Money-Earning Monograph or contact Ashley Todd at 314.592.2358 or firstname.lastname@example.org.