gsmwlp girl scout troop/group financial policy quiz & answers

GSMWLP GIRL SCOUT TROOP/GROUP FINANCIAL POLICY QUIZ & ANSWERS
1) The troop financial report for the previous year must be
turned in prior to submitting a Troop/Group moneyearning
project. T or F
8) It is okay to accept one or more businesses as troop
sponsors for a total of $125 each year. (i.e. 1 sponsor =
$125, or 5 sponsors at $25 each = $125) T or F
Answer: True
Found: Volunteer Resource Guide.
2) The Community Coordinator/Service Unit Manager can
approve two start-up fund-raisers per troop per year.
or F
T
Answer: True
Found: Volunteer Resource Guide.
Note to Trainer: Remember that if your troop accepts a Troop
Sponsorship of any amount then the troop & sponsor should
come up with a way for the troop to give back to the sponsor in
a non-monetary way.
Answer: False
Found: Volunteer Resource Guide.
3) Troop/Group money-earning projects should:
a. Follow guidelines set by the GSMWLP in order not to
compete with the Girl Scout cookie sale.
b. Be in compliance with the fund-raising standards &
policies of Girl Scouts of the USA
c. Be in compliance with state and local laws and
ordinances regulating sales and handling of food
Answer: A, B & C Found: Safety-Wise pg. 29.
4) Participation in the most recent Girl Scout Cookie Sale is
required before approval for a Troop/Group moneyearning
project is granted. T or F
Answer: True
Found: Volunteer Resource Guide.
5) It is okay to plan and participate in a money-earning
project during the council sponsored fall product sale
T or F
Answer: False
Found: Volunteer Resource Guide.
6) How far ahead of your project date should a Troop Group
Money Earning Application be submitted
a) The day before
b) The week before
c) Two Months ahead
Answer: C
Found: Volunteer Resource Guide.
Note to Trainer: Money Earning Applications can be found in
the Resource Guide which is also on the web under the
“Forms” section.
7) It is appropriate for my girls to attend a Lions meeting for
the purpose of requesting money for a project or activity. T
or F
Answer: False Found: Safety-Wise pg. 76
9) It is okay to do a Jelly Bean raffle as a troop money-earning
event
T or F
Answer: False Found: Safety-Wise pg. 74.
Note to Trainer: Counting jelly beans in a jar are a game of
chance.
10) A good fund-raiser for a troop would be hosting a
Tastefully Simple or Avon party T or F
Answer: False Found: Safety-Wise pg. 74.
Note to Trainer: Product Demonstration parties are
inappropriate money-earning activities.
11) A troop would like to raise money for the Hurricane Relief
Fund by participating in their walk-a-thon or ring the bell
for the Salvation Army. This is not an acceptable activity
for Girl Scouts T or F
Answer: True Found: Safety-Wise pg. 76.
Note to Trainer: Discuss non-monetary ways troops can
support organizations. Example: handing out refreshments,
help with clean-up or set-up of an event, etc.
12) It is appropriate for girls to donate a portion of the money
in their account to another non-profit organization or to
GSMWLP. T or F
Answer: True Found: Safety-Wise pg. 76.
13) When funds are raised by a troop, the money should be
tracked by how much each girl raised. T or F
Answer: False
Found: Volunteer Resource Guide.
14) As an established troop with money in your account, troop
membership registration fees for the next year can be paid
for with this money T or F
Answer: True Found: Safety-Wise pg. 74.
Mini Troop/Group Finance Adult Training hlt Page 1
GSMWLP 4/09 #8901

GSMWLP GIRL SCOUT TROOP/GROUP FINANCIAL POLICY QUIZ & ANSWERS
15) Parts of the Girl Scout Law: "using resources wisely", and
“responsible for what I say and do” are great ways to
discuss money matters with your troop T or F
Answer: True
Found: Girl Scout Law.
16) The purpose for troops earning money is:
a. Teaching girls goal setting strategies
b. Help others in your community through services or
donations
c. Off set simple expenses that occur in the function of a
troop
Answer: A, B, and C Found: Safety-Wise pg. 74.
17) If you are "good with numbers", it's OK to work from petty
cash and not open a troop checking account. T or F
Answer: False
Found: Volunteer Resource Guide.
18) When opening a troop checking account, the 01 leader
should use their social security number T or F
Answer: False
Found: Volunteer Resource Guide.
19) Our tax-exempt number allows you to get craft supplies for
the troop/group without paying tax T or F
Answer: True
Found: Volunteer Resource Guide.
Note to trainer: Refer each participant to the page XX of the
Resource Guide for a copy of the Certificate of Exemption.
20) If new leadership has been recruited for an existing troop,
the retiring troop leader should transfer all supplies,
financial records, and bank account information and
materials to the new leader
T or F
Answer: True
Found: Volunteer Resource Guide.
21) If a troop's account is more than a hundred dollars at the
end of May you should...
a. Have the girls plan a party
b. Ask girls if they want to donate the money to a worthy
cause
c. Attach an explanation to your troop finance report as
to what you plan to do with the money at a later date
23) Funding for Financial Aid/Opportunity/Scholarship Funds
comes from:
d. Girl Scout Product Sales, Give to a Girl
e. Friends of Girl Scouting Campaign, United Way
f. Staff, board and other contributions
Answer: A, B, and C Found: Volunteer Resource Guide.
24) Proceeds from the Girl Scout Product Sales become the
property of individual girl members.
T or F
Answer: False
Found: Volunteer Resource Guide.
25) Our Council agrees to adhere to GSUSA policies to maintain
their Council charter, one of which is ensuring troop financial
reports are completed yearly by June 1.
T or F
Answer: True
Found: Volunteer Resource Guide
Note to Trainer: Remind participants that you will be educating
them about Troop Financial Reports after this quiz.
26) If an unsolicited donation is given to Girl Scouts at the
community level the monies can be deposited into the Service
Unit Checking Account.
T or F
Answer: False
Found: Volunteer Resource Guide.
Note to Trainer: All monies must be run through the Girl Scout
Council Office for recording purposes and to allow the donation
to be tax deductible.
27) Aside from Troop Sponsorships, adults within a Service Unit
can solicit donations on behalf of GSMWLP in their community
from various businesses and organizations. T or F
Answer: False
Found: Volunteer Resource Guide.
Note to Trainer: Special Circumstances may arise and at that
time the Girl Scout Adults must talk with the Fund
Development Director.
28) Girl Scout Troops/Groups may catalog books at the local
library book sale.
T or F
Answer: True Found: Safety-Wise pg. 76.
29) Each troop checking account must have a minimum of two
signers.
T or F
Answer: A, B and C Found: Safety-Wise pg. 74.
Answer: True
Found: Volunteer Resource Guide.
22) Financial Aid/Opportunity/Scholarship Funds are given to
individual girls and adults, not to troops. T or F
30) The income from group money-earning activities never
becomes the property of individual members. T or F
Answer: True
Found: Volunteer Resource Guide.
Answer: True Found: Safety-Wise pg. 76
Mini Troop/Group Finance Adult Training hlt Page 2
GSMWLP 4/09 #8901