GP 2i - Cost of Governance

Policy Type: Governance

Policy Title: Cost of Governance

Date Adopted: June 13, 2019
Date Reviewed: November 17, 2023
Date Amended: November 17, 2023

The Board will invest in its governance capacity.

1. Board knowledge, methods, and supports will be sufficient to ensure governing with excellence.
   1. Professional learning will be available to orient new Board members, as well as to maintain and increase existing Board members’ abilities.
   2. 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.
   3. To ensure the Board's ability to listen to owner viewpoints and values, outreach mechanisms will be used as needed.
2. Costs will be incurred prudently, though not at the expense of endangering the development and maintenance of superior capability.
3. The Board will establish its cost of governance budget for the next fiscal year in line with the budget process.

GP 2h - Annual Planning | GP 3 - Attendance at Executive Committee Meetings