Governance Structures and Practices
- Determines and guides the cooperative in the fulfillment of its goals, purpose, and governing policies.
- Adheres to sound governance practices and procedures.
Assures that the cooperative has a succession plan in place for the GM and itself. - Encourages director diversity that reflects the diversity of the cooperative’s membership. Solicits diverse individuals to seek election to the Board, and considers diversity when filling vacant director positions.
- Coordinates with state and national cooperative organizations to determine a political action strategy that advocates for the co-op.
Cooperative Outlook
Encourages future cooperative success by cultivating member knowledge of and interest in the cooperative and board membership.
Vision and Strategic Oversight
- Adopts policies and develops practices to facilitate the following:
- Compliance with the law
- Preparation of accurate financial statements
- Adoption of and compliance with appropriate internal controls
- Assessment of major risks
- Generally oversees business performance, plans, and strategy.
- Oversees the allocation of the cooperative’s budget.
Works with the GM to develop and evaluate corporate objectives and strategic plans. - Decides what lines of business to be in (consistent with state law).
- Retains and oversees the work of the audit firm.
- Oversees the engagement of the cooperative’s attorney.
Engages outside consultants when necessary to inform the Board. - Hires and oversees the performance of the GM.
- Provides strategic guidance and feedback to the GM.
- Challenges, supports, evaluates, and compensates the GM as warranted.