board governance
The PREDC volunteer Board of Directors governs the not-for profit corporation using a Policy Board Model. Under this model, there is a division of responsibilities between staff and the board that relies on mutual trust and ensures the Board’s focus on policy provides sound guidance to staff. This distinction between the role of the board and the role of staff maintains proper accountability.
The Board is accountable to stakeholders and the public to use its resources effectively for the advancement of economic development goals that are beneficial to the community’s economy. These initiatives have one thing in common: to create an environment and opportunities in which business can make investments that stimulate the economy and create decent paying jobs.
The Policy Board Model used by the PREDC Board defines the Board’s job:
a. Establish guiding principles and policies for the organization.
b. Define strategic directions: adopt and update a strategic plan.
c. Establish a fund-raising program that ensures diversity of funding sources and operational stability for the corporation.
d. Delegate responsibility and authority to staff, who are responsible for enacting the principles and policies.
e. Monitor compliance with those guiding principles and policies.
f. Ensure that staff and the Board are held accountable for their performance.
Other features of the Policy Board Model used by PREDC:
a. A high level of trust and confidence in board members and staff.
b. Relatively few standing committees, resulting in more meetings of the full board.
c. Board development is given a high priority in order to ensure that new members are able to function effectively.
d. Members are recruited for their demonstrated commitment to the values and mission of the organization.
The Board is accountable to stakeholders and the public to use its resources effectively for the advancement of economic development goals that are beneficial to the community’s economy. These initiatives have one thing in common: to create an environment and opportunities in which business can make investments that stimulate the economy and create decent paying jobs.
The Policy Board Model used by the PREDC Board defines the Board’s job:
a. Establish guiding principles and policies for the organization.
b. Define strategic directions: adopt and update a strategic plan.
c. Establish a fund-raising program that ensures diversity of funding sources and operational stability for the corporation.
d. Delegate responsibility and authority to staff, who are responsible for enacting the principles and policies.
e. Monitor compliance with those guiding principles and policies.
f. Ensure that staff and the Board are held accountable for their performance.
Other features of the Policy Board Model used by PREDC:
a. A high level of trust and confidence in board members and staff.
b. Relatively few standing committees, resulting in more meetings of the full board.
c. Board development is given a high priority in order to ensure that new members are able to function effectively.
d. Members are recruited for their demonstrated commitment to the values and mission of the organization.