Pack Funds

[Balding Eagle]

Is there a limit on the dollar amount a pack can carry over into the next year? I was speaking to someone who thought there was. Can anyone confirm or deny this?

 

Thanks!

[ScoutNut]

I believe it's up to the Charter Org. If they are a not-for-profit they might have some specific rules regarding this in order to keep their not-for-profit status.

 

They might also have a minimum amount that they want you to keep in your account. Our CO gave us $200 (many, many moons ago) to be kept in our account for any needy scout's uniform or campership costs.

 

 

[packsaddle]

The pack and troop for this CO have their own bank accounts and treasurers. There are no concerns about carry-overs and such.

[dsteele]

tiger Dad:

 

For the answer to this question, I strongly urge you to call your council office and ask for the Finance Director. The rules vary somewhat by state and you won't find a definitive answer here.

 

Unc.

[eisely]

I am not aware of any legal limits, but I can see where such limits might exist under the Federal Tax Code and various state laws. The suggestion to talk to the finance director at the council is sound.

[dsteele]

Thanks for the echo, eisely.

 

To add to my earlier advice to Tiger Dad, I stress that the place to call is your council office. Speak to the Finance Director or another professional in charge of fund-raising. They'll know specific BSA ins-and-outs.

 

I don't advise you to call your state or the IRS unless instructed to do so. I have advised units that have done this as a commissioner and they have gotten different answers with every phone call. Most tax people don't understand the BSA charter concept or who owns the unit and will likely just confuse you (and frustrate you with a lot of dead ends.)

 

When I worked with the office years ago as Scoutmaster, the BSA pros were definately more knowledgeable.

 

Hope this helps.

 

Unc.

[dan]

Why would you call the BSA about the Charted Organizations monies?

Check with your CO, if they are a non exempt organization they have rules they have to follow, which would mean the unit should follow those rules also.

[Bob White]

The recommendation of the BSA as far as how much money is carried over is... that the money be spend this year on the scouts who earned it , except for a small amount in reserve expenses incurred before the next major fund raiser. The amount will vary depending on the size and need of the unit, as well as depending on fiscal calendar of the unit.

 

If you follow the guidelines of the program you planned your program first and only raised enough money to provide the program you planned. The goal of scouting is not to see which unit can raise the most money or amasse the largest bank account. Plan a quality year of scouting, raise the money needed to deliver it. Start over with the next annual plan.

 

I hope this answers your question.

[Big_Dog]

Tiger Dad,

 

We try real hard not to keep more than $15k in our account. Anything over 15 thousand we just give away. At first, it was hard to raise this kind of money, but with time and experience we learned that no one ever suspects cub scouts of knocking over 7-11's.

 

Seriously, our money is pretty much gone by the time to sell more popcorn!

 

BD

 

 

[Balding Eagle]

Thanks for the replies everyone.

 

We blew our Blue & Gold budget and had to do some late fund raising resulting in a balance to be carried over to next year. The scouts who raised this money will be returning next year so the money will be spent on them.

 

[scoutldr]

As far as the IRS and BSA are concerned, the scout unit is not a legal entity. Whatever rules apply to the CO also apply to the unit funds, since the money technically is theirs, just entrusted to the use of the unit.

[fotoscout]

There is a guideline of about $1000 for Cub Packs and $2500 for BS Units. I don't have the literature with me so my numbers may be off by a few hundered, but that is the ball park.

[CubsRgr8]

If you have excess funds, it's not too late for boys to sign up for summer camp and have the pack pay part of the way. For those boys who already signed up, refund part of their fees. Also, remember, you can go to any council's summer camp, not just your own.

-OR-

You could plan for a really big pack adventure in the fall, like a sleepover on a museum naval vessel or an overnight trip to a historical site. Think big! Think fun! Think BIG FUN!

[eisely]

The only reason for building a large balance is for major expenditures for equipment. However, this should be planned and budgeted, just as BW suggests. The only difference would be that equipment acquisitions, whether for backpacking stoves for scouts or Pinewood Derby tracks for cubs, may be a multi year budgeting process.