On August 12, 2020, the NWSA Board approved revisions to the bylaws related to a requirement for an audit of the organization. Article IX, section 5, required an audit to be conducted no less often than once every three years. Staff research indicates that a financial audit would be cost-prohibitive (approx. $7,000 - $8,000), particularly in relation to NWSA’s total annual budget of under $100,000, and a very limited number of financial transactions. The revised bylaws now prescribe financial transparency actions, as well as a threshold for revisiting the need for an audit in the future.
The updated bylaws can be found on the Member Area of the NWSA website at https://www.nationalwatersupply.org/member-area