Troop bank for scout funds at camp

[Buffalo Skipper]

Do any other troops run a "bank" for the scouts while at summer camp? This is something we have done for years, and I remember it being done while I was at camp 30+ years ago. I am having second thougths about it right now, though. I have some ideas, but I will share them after I hear what other troops do.....

[Eagle1982]

You mean where someone holds the kids money during the week, and gives it to them when they need it? No, we do not do that. By that age, we hope they can handle basic money management.

 

 

[CalicoPenn]

Back when I was a lad, our Troop did the bank at Summer Camp. The main reason was because the camp had safes in the camp offices and units were strongly encouraged to keep valuables locked in the safe. If we needed pocket money, we needed to tell a designated leader by the end of dinner (but not before 4:00). He would go to the office after dinner to get the funds.

 

A secondary advantage was that the Leaders could monitor a lads funds balance - not to be nosy, but to make sure the lad had enough cash to pay for the mid-week raft trip and the mid-week overnight horse trip (we had a two week camp schedule, and both these trips - though offered by the Camp, had to be paid for at camp, not in advance). The leaders could warn the Scouts that there fund balance was this, and the cost of a trip they are wanting to go in is that - and to keep that in mind. It was also helpful if a lad was burning through cash for some reason, say trying to earn the Rifle and Shotgun Merit Badge (which is quite possible)and a quick call home by Scout and Leader to make sure a small loan to the lad was authorized if needed (happened a couple of times that I remember - and yes, the lads were working on Rifle and Shotgun) so he could fully participate and earn the merit badge he was working on.

 

If we didn't get our request in on time, we were out of luck the next day (exception - the trips - the leaders would automatically get the money if we signed up so we didn't need to request those funds). That's also an important lesson in responsibility and money management.

[Beavah]

Yah, hmmm... I'm always amazed at bein' in Scoutin' a long time and lots of different places and hearin' somethin' new.

 

I was thinkin' when I read the title that this was some sort of Personal Management exercise, where the Troop Bank paid interest on deposits and made loans at interest to boys for things, eh? Or packaged loans into Collateralized Debt Obligation bonds and sold 'em to Camp Staffers who in turn sold Credit Default Swap derivatives to parents. Either way, it would be an interestin' educational thing for the boys, if yeh found a way to do it well.

 

But what I'm hearin' instead is "the adults hold the money so they can watch and control how we spend it" or somesuch. I'm left wonderin' how that can possibly help kids learn any real lessons about responsibility or money management.

 

Maybe somethin' like that just for first year boys so they get some coachin', but I can't see it for any others. And if a troop does it for the first year lads, I'd have their Patrol Leader or Troop Guide hold the money, eh? Not some adult.

 

Beavah

 

[Buffalo Skipper]

That is what our troop has done at summer camp for many years. Acted as a "deposit" location for scout's money. The bank is open at certain "hours" and the "withdrawls" are monitored closely.

 

I have worked hard over the past several months to establish an "independent" way of thinking amongst the troop's leaders and members. So when I read the summer camp policies "guide" for parents, I found this to be somewhat contaray to the direction I have been encouraging the boys to take. I agree that prehaps for a first year scout this may be a good idea, managing funds for 15 and 16 year old scouts is really uncalled for.

 

I have already spoken to our camp treasurer, who has done this for years (and frankly, it is a pain for him to do it) and we will only be "assisting" the first year scouts this summer. Anyone older than that should have it together enough to manage. If not, it may be a good lesson for them.

 

Thank you for your input.

[roguedawg]

Out troop had some issues back years ago where scouts were accussing other scouts of "stealing" money when we were on a trip to Gettyburg. We as leaders saw that certain boys that got their money "stolen" also bought several items as well. So we figured that they money had not been stolen to begin with, but rather spent unwisely on soveneirs and ice cream.

Anyways, we had the SPL hold a quick meeting and the boys decided that an adult collects everybody's money and acts as the banker. So my brother acted as the banker and each scout asked what he wanted to be removed from his funds for each day. It quieted a lot of arguements. So we had the boys keep a sheet on how much the put in, took out, and had as a balance. So I guess it was teaching them to keep track of their money.

So we did this a couple of years for our big trips and it worked well. The boys eventually matured a little and the bank was retired. Oh, the boys for the most part were right out of Webalos and this was the first time they had money to spend in the absence of their parents. RD

[AwHeck]

Our troop has used an adult 'banker' at summer camp for as long as I've been involved with the troop. We have envelopes with each scout's name on it and columns/lines to record the date, amount deposited or withdrawn, and new balance. This does help the younger ones to budget their money better over the week (with gentle guidance from the banker). This also minimize the impact of money being "lost". We also try to reduce the incidence of sugar overload from too much access to junk food at the trading post. Some scouts need a bit more guidance than others in this regard and making the bank 'mandatory' it avoids singling out some scouts for extra monitoring. Our older scouts appear to like the system but from time to time one will decline to participate in the bank. For an older scout, I don't push it, I simply mention that they are solely responsible if any turns up lost.

 

We usually have specified 'bankers hours' a couple of times a day when scouts can deposit or withdraw funds. This came in handy one summer when the SPL became (justifiably) upset with the troop's behavior at opening campfire plus a few other incidents so he declared the trading post off limits for a day; by not opening the bank that day, scouts didn't have any money to spend.(This message has been edited by AwHeck)

[Eagle92]

yep My troop also had a bank, but it was voluntary. However almost all of us used it b/c the money was locked in one of those portable firesafes and stored in a leaders car.

 

When I went to Canada we also had a trip bank. Again a leader kept a firesafe in his bag and followed the procedures mentioned elsewhere. Since we were gone for 2 weeks, and travelling in another country, all of us put our money in the bank.

[Buffalo Skipper]

My get instinct when I first posted this is that scouts should be more responsible than to have us dole out their money. But after reading the last few responses, I am accepting that this practice is more commonplace than I first suspected. In recent memory, this had been a mandatory practice for our scouts.

 

Certainly maintaining a bank for all first year scouts is understandable, especially if they have never been in an environment like this. On the other hand, we have some second and now third year scouts who, given $50.00 would spend it on 3 knives, 5 unremarakable trinkets and the balance on candy and such--all in their first visit to the trading post. These are not bad scout, the just lack self control.

 

I see that many troops make participation voluntary. I think this may be the way to go. Any problems you see to make this required for first year scouts and voluntary beyond that? Or maybe it should be rank based?

[Be_Prepared]

The troop I work with does not. Our local summer camp does not have camper program expenses needed during the week, so the only money needed would be trading post / snack bar items - or items for handicraft, which they buy on Monday. We encourage parents not to give them a bunch of money to take, since they don't really need it.

 

Several reasons we don't:

 

1) We take a large group ( 50 + ) to camp, so it would be a lot to manage

2) It does encourage keeping up with your money, and the downside is minimal, i.e. - if you lose it or spend it early - you can't buy a coke later in the week.

 

Other summer camps I've seen have expenses, such as money for rifle, shotgun, archery, etc. that are collected during the week at camp. I could see how a leader may want to take up and hold that money - since it is for program

[mikecummings157]

Yes, we have one of the adults at summer camp hold money for the boys and they can withdraw it upon request. By working with an adult on budgeting their money for the week, they learn how to make it last and to think through what their exponses are. Also, we assure that everyone has at least a few bucks left to buy dinner on the way back from camp, as it's a long ride requiring a stop.

 

I agree, as some folks pointed out, that the boys "should" be able to manage this on their own, espcially as they get older. However, they're still kids, and we're there to help them.