§ 18   Function of Members within the WSA

1. Member federations and organisations are run and managed in accordance with their own statutes as long as these statutes do not contradict those of the WSA.

2.   Members manage and run their own business affairs self-sufficiently and in accordance with their respective function.

§ 19  General and Basic Financial Principles

1. The Association designs and manages its budget in order to guarantee the realisation of its tasks.         

2. All assets resulting from this budget together with all possible surpluses can only be utilised in accordance with the Statute.

3. The Treasurer has to present to the General Assembly each year a balanced budget relating to income and expenditure.

4. In the event that additional income or expenditure cannot be balanced within the total budget, the Treasurer presents to the General Assembly/GA a supplementary budget.

5. All budgets have to be sanctioned by the GA.

6. The Treasurer prepares annually a profit and loss account together with a balance sheet both of which have to be presented to the GA for approval.

7.  The year end report and financial year end report are submitted to the General Assembly/GA for approval.           

§ 20  Control of the Financial Accounts

1. The management of the business affairs of the Association are audited at the end of the business year and before the start of the General Assembly/GA by 2 (two) auditors. These auditors prepare a report on the audit of the financial year end, and on income and expenditure as well as on the budget situation. This report is to be submitted by the auditors to the GA. This report and the budget report by the Treasurer have to be approved by the General Assembly/GA. Only after such approval/ratification can the Executive Committee be discharged.

2. The auditors are elected by the General Assembly/GA for a period of 2 (two) years.  Re-election is possible.