Who approves the annual FBLA budget prepared by the association president and CEO?

• A. The membership at large
• B. The board of directors
• C. The local chapters
• D. The national office staff

Answer: (B)

Financial oversight and fiduciary responsibility rests with the board of directors. The association president and CEO prepares the annual budget, but the board reviews the proposal and gives formal approval. This arrangement ensures accountability and alignment with the organization's mission and long-term stability. The membership at large, local chapters, or national office staff do not have final approving authority over the budget; they may provide input or implement the approved plan, but the final sign-off rests with the board. In nonprofit governance, the board safeguards assets and monitors financial performance through this approval process.