Board of Governors Approved May 5, 2018
Provide requirements for Group and Section financial management.
As members of Scouts Canada, we all need to be good financial stewards. We have a duty to ensure funds are used according to the wishes of our donors and supporters, in support of our mission.
- All funds of each Section and Group are:
- Used for Scouting purposes only
- Under the control of at least two members
- Used to operate the Scouts Canada Group and its Sections
- Sections and Groups must:
- Prepare an accrual-based budget for each fiscal year
- Limit expenditures to those items set out in the approved budget or otherwise properly approved by the Group Committee
- Limit expenditures so they do not exceed current revenue and/or designated reserve refunds in any fiscal year
- Funds raised or donated for a particular purpose shall only be spent on that stated purpose.
- Reserves for future equipment replacement, special events, operating contingency, or other appropriate projects must be approved by the Group Committee.
- Groups are expected to invest in savings accounts or in short-term Guaranteed Investment Certificates (GICs) purchased from a chartered bank or similar financial institution.
- Investment in any other savings option must be specifically approved by the CEO/Executive Commissioner, or their designate.
- Groups and Sections may not borrow funds.
- All reporting, whether by Sections or Groups, shall:
- Provide a timely, accurate, relevant, and transparent picture of Section/Group financial position and performance
- Comply with Scouts Canada requirements as outlined above
- The financial records of Scout Groups are subject to review by Scouts Canada.