Purpose:
• This policy sets out matters specifically reserved for determination by the Board of Directors and those matters delegated to the Executive Director. The functions exercised by the Board and those delegated to the Executive Director are subject to ongoing review to ensure that the decision of the delegation of functions remains appropriate.
Policy:
1. The following matters are specifically reserved for the Board:
a. Promotions and development of the Objects, Mandate and Vision of the Association including, but not limited to, decisions about organizational strategy and policies.
b. Setting the Board Agenda, in consultation with the Executive Director.
c. Approval of, or changes to, the annual budget.
d. All matters with the potential to have impact on the reputation of the association.
e. Matters involving financial transactions which are not included in the annual budget.
f. Matters involving financial transactions which exceed an amount included in the annual budget by more than $5000.
g. Approval of contracts which are not included in the annual budget.
h. Approval of contracts which exceed an amount included in the annual budget by more than $5000.
i. Conduct regular Board Meetings.
j. Conduct an Annual General Meeting each Calendar Year
k. Acquire and take by purchase, donation or otherwise, all types of real estate and personal property, and may sell, exchange, mortgage, lease, let, improve, and develop it, and may erect and maintain any necessary buildings and structures.
l. Purchase, lease or otherwise acquire, alienate, sell, exchange, or dispose of shares, stocks, rights, warrants, options and other securities, land, buildings or property, moveable or immoveable, real or personal, or any right or interest owned by the Association, for such consideration and upon such terms and conditions as they deem advisable.
2. The following matters are delegated to the Executive Director:
a. Management of day-to-day operations of the Association in accordance with all legal and regulatory requirements.
b. Promotion and development of the membership of the Association.
c. Implementation of policies, rules, and regulations for the operations of the Association in a manner that is prudent, equitable and consistent with commonly accepted business practices and professional ethics.
d. Maintaining a Registry of members and oversee membership requirements including the payment and collection of Membership fees.
e. Coordinate an Annual General Meeting each calendar year.
f. Management, protection and development of the Associations assets and property.
g. Entering into contracts or retaining 3rd parties to affect the business of the organization.
h. Development and implementation of the annual budget for the Association.
i. Ensuring the annual audit of the Associations financial records.
j. Payment of expenses, costs and liabilities associated with the operations of the Association.
k. Co-Signing Authority for all Bank Transactions.
l. Authority over the use of the Corporate Seal.
m. Manage and supervise the operations and affairs of the Association to ensure business is conducted in accordance with the best interests of the Association.
n. Be the public spokesperson for the Association.
o. Signing Authority for the Associations Resolutions and other Legal Contracts.
p. Keep a detailed account of revenues and expenditures of the Association in proper books of account.
q. Review and provide recommendations regarding the Association’s monthly financial records and reconciliation.
r. Review and provide recommendations regarding the year end Audit of the financial transactions of the Association during each fiscal year.
s. Distribution of relevant materials to the Board prior to the Meetings.
t. Maintain the approved minutes of all meetings.
3. The Executive Director may sub-delegate any matters delegated to them in this policy where appropriate, except Co-Signing Authority for Bank Transactions, or Signing Authority for Association Resolutions and other Legal Contracts.
4. The Executive Director is to report to the Board at their regularly scheduled Board Meetings concerning the authority exercised. Executive Director reporting will include impact performance, financial performance, risk management, human resource issues and other items related to organizational operations.
Original Date of Policy Adoption May 8, 2023
Date of Last Policy Revision:
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