The WSBA is committed to being accountable to its members and the public for its finances and welcomes your questions and suggestions about financial matters. The Budget and Audit Committee of the Board of Governors oversees Bar finances.
Read the DRAFT FY 2020 WSBA Budget for fiscal year ending Sept. 30, 2020.
The Bar's fiscal year is Oct. 1–Sept. 30. The WSBA produces internal unaudited financial statements monthly. These reports are made up of income (profit/loss) statements for each of the WSBA’s cost centers. Reports show monthly and year-to-date financial activities and the budget associated with each of those activities. A summary sheet combining all cost centers provides an overall picture of the Bar's financial status at the end of each month, and a cash balances statement shows the WSBA’s current cash and investments allocations. WSBA’s year-end financial statements are audited each year by an independent accounting firm.
Year-End Audit Report
At the end of each year, the Bar engages an independent certified public accounting firm to audit our financial statements. In addition to verifying financial statement accuracy, the auditors review, analyze, and test internal controls over reporting, management oversight, and various systems related to the WSBA’s finances and overall operations of the organization. The Budget and Audit Committee reviewed the fiscal year 2018 year-end financial results at its January 2019 meeting. As in prior years, the WSBA received an “unmodified opinion” for the fiscal year ending Sept. 30, 2018. No adjustments were made, no material weaknesses were noted, and no management letter was issued. The results of this very positive audit indicate that the WSBA’s finances are accurate in all material aspects.
Lawyer License Fees
License fees are the main source of funding for WSBA programs, services, and operations. As fiduciaries, the Board of Governors must set license fees at a level that enables the Bar to continue to meet our regulatory obligations, advance our mission, provide value to our members at reasonable cost, and preserve a prudent level of reserves. In September 2016, following extensive examination of historical, current, and projected revenues, expenses, license fees, and reserves, the Board adopted lawyer licenses fees for the period 2018-2020 at the following levels: $449 in 2018, $453 in 2019, and $458 in 2020. These levels reflect the Board’s deep commitment to support WSBA as an integrated bar, while preserving minimum operating reserves of $2 million.
Learn about our License Fee Exemptions and Payment Plan.