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AMENDMENTS TO BOARD POLICIES MANUAL
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ACTION
recommendation
Authorize amendments to the Board Policies Manual within Section 6.1 E - Finance Committee.
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PURPOSE
The amendments to the Board Policies Manual reflect updates to timing requirements to allow for a more thorough review of audit information and provide greater flexibility in the timing of committee presentations regarding the budget.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors amend the Board Policies Manual, Section 6.1 E to amend the January audit review requirement to be no later than February to provide the Finance Committee additional time to review the draft audit, and to remove timing requirements for the Finance Committee related to the budget. The new Fiscal Management Policy addresses committee presentations.
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Strategic Objective: |
2.1: Efficient Business Practices, and 4.1: Highly Skilled Workforce |
This item was reviewed with the Finance Committee on August 9, 2023, and with the Policy Committee on September 13, 2023. The Finance and Policy Committees recommended the amendment to the Board Policies Manual.
DRIVER(S) FOR THIS PROJECT
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☐ Regulatory Compliance |
☐ Asset Condition |
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☐ Capacity |
☐ Redundancy/Resiliency |
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☐ Relocation or External Requests |
☐ Operational Efficiency |
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☐ Safety |
☒ Administrative |
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☒ Policy |
☐ Other _____________ |
BACKGROUND
• The Board Policies Manual was previously updated in April 2023
• The Finance Committee met in August 2023 and recommended adoption to the Board of Directors.
• The Policy Committee met in September and recommended adoption to the Board of Directors.
• The current proposed amendments are in Section 6.1E Finance Committee:
o Change the January audit review requirement to no later than February to provide the Finance Committee with additional time to review the draft audit, if needed.
o Remove the timing requirements for Finance Committee Meetings related to the budget review. It is further recommended that the Fiscal Management Policy address presentations to the committee.
• Attached is a redline and clean copy of the Board Policies Manual related to the proposed amendments.
FUNDING
FUND(S): Not applicable.