How soon after the fiscal year ends must a funeral home report its financial health to the board?

A funeral home in Washington is required to report its financial health to the board within a specific timeframe after the fiscal year ends to ensure transparency and accountability. The correct timing for this report is 90 days following the close of the fiscal year. This regulation is in place to allow adequate time for the funeral home to compile its financial statements, ensure accuracy in reporting, and analyze its financial status before submitting the report.

This 90-day window reflects a balance between providing timely information to the board and allowing funeral homes sufficient time to prepare comprehensive financial documentation. Timely reporting is crucial for the regulation of funeral service providers and monitoring their financial integrity, which in turn ensures that consumers are protected.

In contrast, shorter periods such as 30 or 60 days may not allow enough time for a thorough review, while a longer period such as 120 days could delay important oversight and diminish the relevance of the reported financial status. Thus, the 90-day timeframe aligns with best practices for fiscal accountability in the funeral industry.