Whatever the age or structure any board has set of primary responsibilities. These include ensuring that assets of the non-profit are used with care and prudence and protecting the interests of shareholders and demonstrating loyalty and respect to governance regulations (even when they’re not in the best interests of a specific person).

Attendance at Meetings and Participation

Board members should be capable of attending meetings in person or on the internet. This means reading the meeting agenda in advance and actively participating in discussions and decisions. It is also important that board members take part in committee activities to help them understand and be involved in the work of the organization.

Financial Management

This includes preparing and re-reading budgets, managing reserve funds, and making sure that assessments are collected. To make decisions and manage risks the board should have a good understanding of the financials of the community.

Policy Compliance Documents / Documents governing the Policy

This is one of the most important responsibilities that requires an understanding of the community’s documents governing the community as well as a thorough knowledge of the federal, state, and local laws. This ensures that the community is always in compliance and that the board is able to make the right decisions in a crisis. It is also important to be able to respond to questions from residents and address their concerns as well as enforcing rules when needed.

www.boardmeeting-software.blog/the-variety-of-responsibilities-of-a-board-member/