River Valleys is legally responsible for all Girl Scout banking within its jurisdiction. River Valleys reserves the right to define banking and money management requirements for troops, service units, and other Girl Scout groups.
Standards
- River Valleys Girl Scout troop, service unit, and group banking and money management must be conducted according to federal IRS, state, Girl Scouts of the USA, and River Valleys requirements.
- Actions related to Girl Scout banking and money management that are not in line with River Valleys policies, result in loss of funds, or could be considered negligent will result in consequences up to and including removal from all River Valleys Girl Scout roles and possible legal action.
- All money earned for or in the name of Girl Scouts in any capacity must be kept in a designated troop, service unit, or group bank account.
- Individual Juliette Girl Scouts cannot have bank accounts; they must instead hold their funds in the form of Juliette Program Credits issued by River Valleys.
- See policy: Juliette Money Management
- Individual Juliette Girl Scouts cannot have bank accounts; they must instead hold their funds in the form of Juliette Program Credits issued by River Valleys.
- Individuals listed on an account are responsible for all account activity. Responsibilities include but are not limited to account maintenance, keeping accurate records, retaining receipts, and any overdraft fees.
- Girl Scout account financial records (e.g. bank statements, finance reports, bank receipts, cash disbursements, etc.) must be retained for seven years.
- Girl Scout bank accounts must follow these additional requirements:
- River Valleys recommends that Girl Scout troops, service units, and groups open bank accounts at Wells Fargo.
- Troops, service units, and groups are required to use River Valleys’ Federal Employer Identification Number (FEIN) when opening bank accounts.
- See policy: Tax Exempt
- Accounts must have at least two co-signers, both/all of whom are current Girl Scout members affiliated with the troop, service unit or group and appointed to a volunteer role approved for handling finances.
- Account signers cannot reside in the same household.
- Account signers must submit the Girl Scout Bank Account Record online form to River Valleys when opening a new bank account.
- Girl Scout bank accounts must never be used to hold personal funds or for making personal purchases.
- All Girl Scout funds must be deposited directly into a Girl Scout bank account, never a personal account.
- Reimbursement from a Girl Scout bank account to a volunteer must be issued by an account co-signer. Volunteers must never issue reimbursement to themselves.
- River Valleys reserves the right to audit troop, service unit, and group bank accounts and financial information without consent of the account signers at any time.
- River Valleys reserves the right to process ACH (Automated Clearing House) direct electronic debits and credits to or from troop, service unit, and group accounts at any time.
- Troops and service units are responsible for ensuring they have sufficient funds in their account on the dates of scheduled ACH debits related to the River Valleys Cookie and Fall Product Programs. These dates and requirements are published annually by River Valleys.
- Electronic payment requirements:
- Use of online payment vendors such as PayPal, Venmo, Square, Zelle, etc. is not allowed.
- Service units and other adult volunteer groups may use River Valleys-approved electronic registration and payment methods for volunteer-led events and activities.
- See policy: Service Unit Online Event Registration
- Troops are only allowed to use approved electronic payment methods for River Valleys’ Cookie and Fall Product Programs.
- See program-specific materials published annually by River Valleys.
- A Finance/Inventory Issue Form, found on the River Valleys volunteer website) must be submitted in the event of the following issues occurring during the River Valleys Cookie and Fall Product Programs:
- Excess troop cookie inventory
- Family unpaid balance to troop
- Troop fall product/cookie manager or troop leader unpaid balance to troop
- Juliette Girl Scout unpaid balance to Girl Scouts River Valleys
- ACH refund request (due to data entry error)
- Bank fees reimbursement request (due to high deposit activity)
- Returned check reimbursement request (non-sufficient funds/account closed)
- Stolen product/money or counterfeit money received
- Credit card chargeback/refund request (approved vendors only)
- All troops, service units, and groups are required to submit a Girl Scout Finance Report annually by June 30.
- Annual funding and Cookie/Fall Product Program bonuses for service units are contingent upon Finance Report submission.
- See policy: Annual Council Issued Service Unit Funding, and Cookie/Fall Product Program-specific materials published annually by River Valleys.
- Annual funding and Cookie/Fall Product Program bonuses for service units are contingent upon Finance Report submission.
- When a troop disbands, any/all troop bank account(s) must be closed and confirmation shared with River Valleys using the Troop Disband Form.
- See policy: Troop Disband
- Troops must comply with the Troop Funds Distribution Policy as they disband.
- River Valleys reserves the right to close Girl Scout bank accounts when necessary, without notice or consent of the account signers. Remaining funds revert to River Valleys.