Seperating High Adventure Funds from Troop Funds

[alex gregory]

Recent suggestion that I really liked regarding planning for Sea Base was to have money deposited on a regular basis so that over 12 to 18 months the guys can get the $1,500+ they need for program fees, travel etc. w/o having to come up with the money all at once days before deadlines etc. Bearing in mind that at any one time a scout might be setting aside money for more than one big ticket adventure (e.g. Sea Base next year, Philmont the year after that, Camp Trek-Across-Bhutan the year after that . . .), where do you park the money?

It seems to me that funds deposited for the exclusive benefit of specific scouts for a specific outing probably should not be deposited along with general troop funds. Potentially you're talking about a big chunk of change. Obviously you can't use an account that belongs to an actual person, too many risks.

Any ideas?

[Billiken]

Our troop has a checking account and a CD.

Both are titles "BSA Troop XXX, ------ Church"
(They use the church's non-profit tax ID so we earn interest tax-free.)

You can make the account such that any withdrawal requires two signatures.

The funds should definitely be separated from normal troop monies.

[ThunderingWind]

Simple accouting practices can also be used to track the "value" of each Scouts account while the funds are technically comingled in the unit checking account.

I do not know of unit-affordable software that will handle it but I will see what I can dig up.

[Ursus Snorous Roarus]

We keep line items for the individual Scouts, a spreadsheet ledger. They can use their monies for gear, campouts, UNIFORMS or as desired for Scouting related purposes.

[kwildman]

ours are commingled in the account but separate on the financial reports. We use quicken to track all the funds.

[Mrw]

One checking account and a spreadsheet here also.

[wagionvigil]

When I was High School Band Director we did this with 200 kids and used a single bank account and a spreadsheet. It is not really hard to do. ALso when I was a first year scout we brought money each week to the meeting for camp and the SPL or someone would punch a card that we had much like a paper carriers card that way you have a record that you paid and how close you were to your goal.

[Chief J]

One bank account and an excel spreadsheet is all that is used here.

Chief J

[jr56]

Same here, one account and a spreadsheet to keep track of what boy has what funds credited to him.

[alex gregory]

Thank you. I prefer Quickbooks and will create a sub-account in the general account, but a ledger will obviously work.

My remaining concern is the CO. If the money is deposited in a standard troop account then it technically belongs to the CO, which could create problems. Our CO is and has been great, but what if . . .

I don't think there is a way around the CO ownership issue. Let me know if there is.

[kwildman]

you can not open an account for the unit without the federal tax id number of the CO. Banking has become a lot more regulated w/ the new homeland security stuff. If you put the money in an individual account you have to worry about that person stealing it and they would also be subjected to the taxes on it.

If the CO has been "great" i wouldnt worry about it.

[OldGreyBear]

Since a Scout is Thrifty, how about you trust that they will do as you say and put the 50 a month in their own accounts. If you want to track it, every 2 months ask for a back receipt showing the amount on deposit. Something about not doing what a boy can so seems to be ringing in my ears

[smtroop168]

Sounds like an excellent item for the scouts to keep track of on their own money. Does Personal Management MB ring a bell?

[alex gregory]

Sounds like an excellent item for the scouts to keep track of on their own money. Does Personal Management MB ring a bell?

Sorry, sudden attack of reality.

[wagionvigil]

WHat? The Scouts actually take some Responsibility? You havegot to be kidding?

[Mrw]

Our reason for collecting funds early and in graduated payments is to get the parents to pony up, not the scouts!

IME parents need much more chasing than the average scout.

[alex gregory]

Our reason for collecting funds early and in graduated payments is to get the parents to pony up, not the scouts!

IME parents need much more chasing than the average scout.

Exactly 100% Correct!

[smtroop168]

No argument on chasing parents here.

The activities that we're talking about are High Adventure and so the scouts are older hence my feeling that they take a little ownership of their accounts regardless of where the $$ comes from.

We've had scouts who are on a 50/50 split with their parents on the total cost and I guarantee they were making sure Mom and Dad kept their account current!