Where to find more information:

Financial Manual 1-6and back of record keeping form

Things to think about:

• if you have kept your books up to date and done your bank reconciliations the final report will be easy to do
• if you read over the entire check list that will be used by the reviewer you will know what things you need to complete for your report
• if you cannot balance, or do not understand a portion of the report contact the treasurer for your Council and ask for assistance
• do not leave your report until the last minute - complete the forms as soon as you can
• you do not have to have the last bank statement on hand to complete the report - you will have to turn it in and do a final reconciliation - but the report can be started without having it in hand

Annual Financial Report

All GGC books must be reviewed by an approved reviewer at least once a year. The reviewer is a person selected by the Council to look at the books and ensure that they are correct, and that the books are adhering to the Policies and Procedures of GGC.

• The reviewer can be anyone who is not a signer on the books, and is not related through any means to the persons responsible for the books.
• Reviewers must be accepted by the concerned council
• In a lot of Districts the Treasurer will review all books
• There is a standard form that the reviewer must complete for each set of books that they are reviewing. This form is in the Standard Financial Reporting Manual.

The procedure for submitting books for review is:

• Unit Guider/Treasurer completes the books, entering all deposits and cheques to the date that the Area has chosen for closing the books
• Unit Guider/Treasurer completes the Annual Financial Report (3-1 in the Manual) and the first page of the Financial Reviw Checklist (4-1 in the Manual)
• When completing this report any unsold cookies or short falls in collection of dues should be noted. Any amounts of money being held for activities over the summer months or being accumulated for a major activity in a year or two should be noted so that the reviewer is aware of the reasons for larger bank balances.
• When the books and reports are completed all of the books including canceled cheques, receipts, bank statements, spread sheet(s) and the Annual Financial Report are turned into the person who will review the books or the concerned Commissioner who will then turn them over to the reviewer.
• The Financial Review Checklist will be completed by the person appointed to do the review as they go through the financial information provided by the unit. The Reviewer is responsible for completing the form completely and noting any areas of concern.
• When the Review is completed the review form and all financial information is to be turned into the Commissioner who will sign off on the books. If there are concerns the Commissioner will make arrangements to meet with the Unit Guiders to discuss and find ways to rectify the concerns and to ensure that they will not occur in the next years accounting.
• If there are no concerns all of the financial information and the signed off review should be returned to the Unit Guiders for the Unit records.
• The closing balance that has been accepted by the Reviewer will be the opening balance for the next years books.