Policy Type: Governance
Policy Title: Cost of Governance
Date Adopted: June 13, 2019
Date Reviewed: December 10, 2019
The Board will invest in its governance capacity.
- Board knowledge, methods, and supports will be sufficient to ensure governing with excellence.
- Professional development will be available to orient new Board members, as well as to maintain and increase existing Board members’ abilities.
- Outside monitoring assistance will be arranged so that the Board can exercise confident control over organizational performance. This includes but is not limited to a financial audit.
- To ensure the Board's ability to listen to owner viewpoints and values, outreach mechanisms will be used as needed.
- Costs will be incurred prudently, though not at the expense of endangering the development and maintenance of superior capability.
- The Board will establish its cost of governance budget for the next fiscal year in line with the budget process.