Troop 59,
Policy for Applying Fund Raising Receipts to Individual Scout Accounts
First presented on
Revised on
Adopted on
Effective immediately, it shall be the policy of the Boy Scouts
of America, Troop 59,
· Encourage greater participation in fund raising activities;
· Encourage profitable fund raising activities;
· Apply financial credit to those Scouts who participate in fund raising activities;
· Provide opportunities to reduce financial burden on families for camp and high adventure activities;
· Ensure consistency in application of funds to individual scout’s accounts; and,
· Providing alternative to scholarships.
Troop
59 – Boy Scouts of
Troop Committee – The official Troop 59 Troop Committee as listed on the Troop Roster.
Troop committee Chair – The Chair of the Troop Committee as listed on the Troop Roster.
Troop Treasurer – The Treasurer of the Troop as listed on the Troop Roster.
Fund Raising Activities – All Troop 59 sponsored activities intended to raise money for use by or for the Troop.
Scout Accounts – Methods of isolating funds credited to an individual Scout or to track payments for events for individual scouts.
Troop 59 Bank Accounts – Any checking or saving account owned by Troop 59.
Disbursement – The transfer of funds from one account to another by means of check or electronic transfer.
Distribution – The assignment of funds to an individual account.
High Adventure/Camp(HA/C) Activity – Any long term camp or high adventure program sponsored or authorized by the Troop 59 Troop Committee.
Troop Scholarship Fund – Money reserved in the Troop General Fund to pay for High Adventure/Camp activity for Scouts who, for financial reasons, would not be able to participate.
Policy Issues.
1.0 General issues
1.0.1 The troop committee shall establish, at the time a fund raising activity is approved, if the fund raising activity will be subject to this Scout account policy, as well as the method for determining earned credit.
1.0.2 The following methods are examples of how to determine the value from which a percentage of funds raised may be credited to a Scout’s individual account: Sales of tickets; sales of merchandise; credit for time worked at a fund raising activity.
1.0.3 The Troop Committee shall establish the percentage of money earned through each fund raising activity which will be applied to an individual Scout’s account. The balance of funds raised will be credited to the troop general fund.
1.0.4 Funds raising activities may be at the troop or patrol level. All fund raising activities will display their affiliation with Troop 59 in a prominent manner for the duration of the fund raising event.
1.0.5 The Troop Committee Chair shall designate a Project Chairperson for every troop sponsored fund raising activity. The Project Chairperson shall be responsible for all funds received from the fund raising activity.
1.0.6 The Troop Committee may, at its discretion, discontinue this policy. On the dissolution of this policy, all remaining funds in individual scout accounts will be returned to the Troop general fund and/or the Troop scholarship fund.
2.0 Ownership and Transfer of Funds.
2.0.1 All money raised through Troop sponsored fund raisers is property of Troop 59, Lawrence, Kansas.
2.0.2 The Troop Committee will be responsible for the distribution and disbursement of all monies held in Troop accounts.
2.0.3 Money credited to Scout accounts will be held in a bank account(s) owned and controlled by and for the sole benefit of, Troop 59.
2.0.4 Money held in a Scout account may be transferred to any other account of an immediate family member who is a registered Scout or adult leader with Troop 59 with the written permission of the scout or his parent/guardian.
2.0.5 All funds held in a Scout’s account shall be transferred to the Troop 59 Scholarship fund when the scout, for any reason, terminates his membership in Troop 59.
2.0.6 Funds held in a Scout’s account may be transferred to the Troop 59 Scholarship fund or the Troop general fund with the written permission of the Scout and his parent/guardian.
2.0.7 Money held in a Scout’s account may not be utilized by the Troop Committee to pay a HA/C deposit unless the money held in the account exceeds the projected full cost of the HA/C event.
2.0.8 If a refund for payments made to a HA/C event is approved, any money originally paid from the Scout’s Account shall be returned to the Scout’s fund raising account.
3.0 Availability of funds.
3.0.1 All money held in a Scout’s account shall be credited to the HA/C balance due at the earliest opportunity to do so.
3.0.2 Funds from a Scout’s account may be applied to that Scout’s High Adventure/Camp account at any time prior to thirty days before the first day of the HA/C event.
3.0.3 If funds exist in a Scout’s account and a balance is due for a HA/C event thirty days prior to the first day of a HA/C event, the Troop Treasurer may transfer funds from the Scout’s account to satisfy the unpaid balance for the HA/C event. The Scout will be notified through publication at regular troop events on a periodic basis.
4.0 Accounting and Reporting
4.0.1 Troop 59 will establish and maintain accounting procedures which properly credit and account for funds raised in accordance with this policy.
4.0.2 The Troop Committee will receive a report not less frequently than twice each year describing the distribution and disbursement of funds under this policy. This report shall describe, in detail, funds applied to individual Scout accounts, the sources of those funds, and HA/C events to which credit was applied for each scout.
4.0.3 Each Scout and his parent/guardian shall receive one written report each year on a schedule to be determined by the Troop Committee. This report will show funds credited to the Scout’s individual account for each fund raising activity sponsored by the troop and debits from the Scout’s individual account for payment toward HA/C events.
4.0.4 Funds held in each Scout’s individual account will be rounded to the nearest whole dollar.
5.0 Dispute Resolution
5.0.1 Disputes over actions governed by this policy shall be resolved by a panel of the Troop Committee Chair, the Scoutmaster and the Troop Treasurer.