What aspect of the association’s finances is the chief executive officer responsible for?

The chief executive officer (CEO) plays a critical role in the financial management of an organization. One of the primary responsibilities includes oversee the development and implementation of the annual budgets. This aspect is crucial because the budget serves as a financial plan that outlines expected revenues and expenses, ensuring the organization operates within its means while also setting financial goals.

By managing the annual budget, the CEO ensures that the organization's resources are allocated effectively to support its activities, goals, and overall mission. This responsibility also involves monitoring financial performance throughout the year to make necessary adjustments, which is essential for the health and sustainability of the association.

Consider the other options: fundraising events may involve participation and support from the CEO but are typically handled by a dedicated team or committee. Membership fees are often set by the organization as a whole rather than the individual responsible for the overall strategy. Strategic planning, while important, focuses on long-term goals and direction, rather than the immediate financial framework that a budget provides. In essence, the annual budget is the primary financial tool that guides the organization's operations, making the CEO's responsibility in this area particularly significant.