4.7. Governance Investment

  • First Reading: May 18, 2021

    Adopted: June 1, 2021

    Policy Title: 4.7. Governance Investment
    Because poor governance costs more than learning to govern well, the board will invest in its governance capacity:

    1. Appropriate funds shall be allocated each year to ensure at minimum, Board skills, methods, and supports will be sufficient to ensure governing with excellence.
      1. Training and retraining will be used to orient new members and candidates for membership, as well as to maintain and increase existing member skills and understandings.
      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, financial audits.
      3. Outreach mechanisms will be used as needed to ensure the board’s ability to listen to owner viewpoints and values.
    2. Costs will be prudently incurred, 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 when budget parameters are established.