In my boy's (12 & 8) bags I have:

Poncho
Poncho liner
Space blanket
Very small 1st aid kit
Fire starters
Matches
Lighter
Pen/pencil/marker
Mad Libs
Notebook
Granola bars
Trail mix
Lifesavers
Water bottles
100' 550 cord
Flash light
Batteries
Compass

I think that's about it.