Troop 68 Finance Code

The fiscal year shall be from to August 1st to July 31st

All accounts shall require two approved signatures for withdrawals. The Treasurer prepares treasurer’s reports for each parent meeting. complete audit is made annually. All returned check fees shall be the responsibility of the check issuer. Receipts shall be turned in and paid within 15 days of purchase.

• The Troop shall be responsible for paying the following expenses from the general fund:

• Troop Registration (annually)

• Boy's Life (annually one copy per family)

• Troop Insurance (annually)

• Charter

• Troop equipment (as needed - Committee Approval required)

• Advancement pins, merit badges, rank patches, etc.

• Leadership Training Costs for selected Scouts from the Troop. (Committee Approval required)

• Leadership Training Costs for selected Troop Adult Leaders. (Committee Approval required)

In addition, the Troop has ongoing expenses, which are normally paid from the general fund:

• Bank charges and check printing

• Office Supplies

• Propane, and other immediate outing necessities

• Court of Honor expenses

• Postage & printing

• Hospitality (Scout Sunday) & Sunshine

Expenditure Approval: A vote of the key committee members will be necessary to approve any expenditure of Troop funds beyond the expenses described above or identified in the Troop Budget. Approval must occur prior to the expense, or the individual runs the risk of non-approval and non-reimbursement.

The goals of the Troop Financing Program are to provide funds to operate the Troop on an annual basis. We have mandatory minimum sales fundraisers, such as in the fall Popcorn, Evergreens; these are to be reviewed annually.

Annual Budget: The Scoutmaster and Committee Chair will prepare a proposed budget for the coming year during the Troop’s Annual Planning meetings in August. The budget should provide an itemized month-by-month breakdown of all expected expenses needed to support the program for the next year. The Annual Budget will be reviewed and approved by the Committee, then presented to the Parents at the first Parents Meeting.

Contingency: The contingency fund should meet unexpected expenses that occur before dues are collected or other money is earned. If the contingency fund falls below this amount, it should be restored through a money-earning project or other means.

Reserve: The reserve fund is the minimum we should have on hand at the close of business; the troop has camp deposits due prior to the start of the new scout year and need to have access to funds. Scoutmaster has $75 cash available monthly for miscellaneous expenses; not cumulative.

Awards: Bill Garry is 50% of early bird rate for summer camp (payable in October of following scout year). Pat Lewis Eagle award is a budgeted amount.

Scout Incentive Program: The church provides this opportunity based on scout involvement in predetermined activities (To volunteer for one (1) church event, sell double of required amount for both Popcorn and Evergreen Fundraisers and to volunteer at a minimum of four (4) food pantry dates). Potential to earn $100 if attending summer camp during that scouting year, payable in October of following year.

Updated August 29, 2023