No matter the age or structure any board has set of primary duties. These include ensuring that the assets of the non-profit are managed with care and safeguarding shareholders’ interests, and showing commitment to governance guidelines, even when they are not in the best interests.
Participation in meetings and attendance
Board members should be at the helm of meetings either in person or via the internet. This includes reading the agenda in advance, and actively participating in discussions and making decisions. It is also crucial that board members take part in committee activities to help them understand and take part in the activities of the organization.
Financial Management
This involves preparing and reviewing budgets, managing reserve funds, and ensuring that assessments are taken care of. The board needs to have an visit the website knowledge of the financial condition of the community to aid in making decisions and manage risk.
Policy Compliance/Governing documents
This is a vital duty that requires a thorough knowledge of all federal, local, and state laws. This ensures that the community is in compliance and that the board has the ability to make the right choices during a time of situation of crisis. It is also a matter of being able to respond to questions from residents and address their concerns, and also enforcing rules when needed.