Who is responsible for approving the annual FBLA budget?

The board of directors holds the authority to approve the annual FBLA budget because this body is typically responsible for the overall financial governance and strategic planning of the organization. Their role involves ensuring that the budget aligns with the organization's goals and objectives, providing accountability for expenditures, and making informed financial decisions that guide the organization's direction.

The other individuals mentioned do have roles within the organization, but they do not possess the overarching financial authority to approve the budget. The chapter president primarily manages local chapter activities, the state advisor provides guidance and support at the state level, and the national president leads the organization’s national initiatives and representation. However, none of these positions carry the responsibility of budget approval, which is reserved for the board of directors.