Re: Bank accounts-help needed
Carl W. Timmons (ctimmons@PRIMARY.NET)
Fri, 26 Jun 1998 17:45:39 -0500
1st change banks. There are plenty of banks that will give free accounts to
non profit organizations.
2nd to answer your question. The more signatures allowed to cash checks the
better, unless you personally want to make all purchases. Our troop has all
members of the committee, and the scoutmaster as signators (sp) otherwise
we were constantly making re-imbursements etc which made it very difficult
to maintain where the money was going. ie multiple checks t the
scoutmaster, or advancement chairperson.
Just one way of doing it. Our bank here does not print names on the checks
just Troop 708, Fenton MO. Makes it extremely easy for us.
At 09:29 6/25/98 -0400, Bob Caron wrote:
>There is very little in writing, primarily because of the significant
>difference between the GSUSA and BSA. The GSUSA "owns" all its units and
>heavily prescribes how they will operate. In BSA, the chartered organization
>"owns" the unit and BSA only offers general guidelines for operation. Thus,
>it is primarily up to the chartered organization and the unit committee to
>decide what are "prudent" financial practices.
>BSA policy on unit finances deals mostly with money-earning (fundraising)
>issues. The only thing in the policy remotely applicable is:
> "The unit committee is the custodian of all unit funds"
>which is probably there to emphasize that the Scoutmaster MAY NOT control
>funds as it is the committee's responsibility to provide this and other
>administrative and support functions.
>Whatever your bank is doing is another story. Remember to tell the bank that
>the chartered organization (church, etc.) is the owner of the account, and
>should be giving the bank the chartered organization's tax ID number for the
>account. The Troop (unit committee, Treasurer) is the signatory on the
>If the bank is saying THEIR policy is that accounts for organizations of this
>type (presumably not-for-profit) is to require two signatures, that's another
>story. Inform them that the chartered organization and unit committee DO NOT
>require two signatures. If they persist, find another bank or live with it.
>BTW, as Treasurer (committee member), you should not be "acting Scoutmaster",
>leave that to an Assistant Scoutmaster.
>Gladys Jenner wrote:
>> Can anyone come up with a "black & white" answer as to whether two
>> signatures are required/needed/suggested on a troop bank account?
>> YIS - Gladys Jenner, Treasurer and "Acting" SM
>> Troop 502 - Longhorn Council - Ft Worth TX
>Troop Committee Secretary, Northborough Troop 101
>Brotherhood, Chippanyonk Lodge #59, OA
>Knox Trail Council #244, BSA
Terry Howerton Sakima Group, Inc. SCOUTER Magazine Kansas City