MISSION

To administer the Association's assets and liabilities in accordance with established standards for accounting and practice "prudent person rule" as they apply to the committee charges

Finance Committee is a committee of the Washington Association of Building Officials (WABO) tasked with reviewing and providing guidance for WABOs financial matters. The committee ensures internal controls, independent audit, and financial analysis for the organization. The committee is responsible for reviewing the organization's revenues and expenditure, balance sheet, investments and other matters related to its continued solvency. The committee shall review all financial statements and report on financial activity to the full membership.  The committee shall also ensure that organizational funds are spent appropriately, approve the annual budget, and submit it to the full membership for approval. 

The Committee will establish an annual work plan and goals specifying its principal work focus areas for the coming year and report progress to the membership at the Quarterly Business Meetings.

WORK PLAN

• Prepare proposed annual budget for presentation to executive board

• Monitor financial reports and report findings and recommendation to executive board

• Review annual financial statements and report findings to executive board

• Serve as review vehicle for budget requests and report recommendations to executive board