Finance Committee

Stewarding Resources. Strengthening WABO’s Future.

Our Mission

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 Overview

The finance committee is a committee of the Washington Association of Building Officials (WABO) tasked with reviewing and providing guidance for WABO’s 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.

Finance Committee Work Plan

Prepare proposed annual budget for presentation to the executive board
Monitor financial reports and report findings and recommendations to the executive board
Review annual financial statements and report findings to the executive board
Serve as review vehicle for budget requests and report recommendations to the executive board

Why You Should Volunteer With This Committee

Volunteering for the finance committee offers significant professional growth, networking opportunities, and a chance to directly influence the financial health and future of WABO. It is a chance to use your expertise to ensure financial stability to protect the association’s mission of building and life safety.