Pursuant to the provisions of OBA By-Laws and the Financial Policy Manual, at least three members of Council are appointed annually as an Audit Committee, with general responsibility for reviewing the on-going financial affairs of the OBA. The Committee also reviews the Budget recommendations of the Treasurer and the senior staff directors, and participates in the annual audit of the financial statements of OBA, and reports from time to time to Council and to the Executive Committee in regard to these matters.