scouts-l Mail Archive for November of 1999: Unit Bank Account question
Chris Summers (ChrisinHouston@AOL.COM
Wed Nov 03 1999 - 13:18:34 CST
I work with a troop in my district that has over $7000 in their treasury.
The money has been growing over the years as they are eventually going to
have to purchase a new troop vehicle or cover major repairs (I believe they
are driving a 1966 GMC stakebed truck). The money has been saved after
ongoing fundraisers where the troop's immediate needs are always met and what
is left over goes in this fund, in other words, they are not doing special
fundraising for this.
I was told by a trainer at a Council run training session that this is
against BSA policy and that in order to comply with IRS non profit guidelines
they should clear their accounts at year's end. I've never seen anything on
this. The money is in the troop checking account. Could they invest the money
to make a higher return on it? Anyone know the answer or want to venture a
Chris in Houston