Submitted by Belle Auld on behalf of the Education Committee
(Editor’s note: the Board of Directors descriptions in this article do not refer specifically to Sunnyside Housing Co-operative but to housing co-operatives in general. For information about Sunnyside’s bylaws, please see the documents page on our website. Marion Gauzer, Communications Committee)
Chair: this position provides leadership to the board and the co-operative. The chair serves as chair for all board and general meetings, maintains a strong relationship with management, and often serves as the face of the organization. The chair should be familiar with important policies and procedures governing co-operatives.
Vice-chair: this position is tasked with fulfilling duties assigned by the chair or filling in when the chair is not available.
Treasurer: this position is often combined with the secretary position. The duties of the treasurer require some understanding of financial reporting and accounting practices and are often given to a manager or hired expert (e.g. an accountant) that can perform them efficiently. The treasurer often oversees the co-operative’s finances, filing the annual return, preparing a budget, and keeping the board and shareholders informed on financial matters.
Secretary: this position maintains the records of the co-operative including policies and procedures, meeting minutes, and an up-to-date membership list. In many co-ops, the secretary serves as a point of contact for members on matters including share redemption, submitting resolutions, or concerns with the co-op.
Coop Housing Board of Directors Responsibilities
The board of directors is central to the operation of a co-operative business. Directors discuss matters affecting the co-op, make decisions that shape and guide the co-op, and prepare information and recommendations to members to discuss and decide on. Much of what a board does is responsive, reacting to events, ideas, and opportunities facing the co-operative. It’s important for directors to think about the future, and look for ways to improve their practices and the co-op’s well-being. This list gives an overview of the important responsibilities of the board of directors:
Manage financial matters of the co-operative: It’s important for the board to have a strong understanding of the co-op’s financial position. This can be done with support from staff or an accountant (depending on the size of the co-op). The board should lead the creation of an annual budget, monitor revenue and expenses, and present the annual return and budget back to the members at the annual meeting. Some members of the board will have signing authority on the co-op’s accounts and their signatures will be required for items like cheques, agreements, chequing accounts, annual returns, and applications.
Strategic Planning: The board provides leadership to the organization and shapes its direction. It creates, updates, and maintains strategic plans that include the co-op’s agenda, goals, and key opportunities. The board should regularly identify projects and manage the co-op’s investments.
Create policies and procedures: The board will create policies when first incorporating the co-op, and on an ongoing basis. Some policies will be created in response to the co-op’s business, or as challenges and opportunities arise. These policies relate to things like finances, membership, conflict of interest, information and technology, safety, and elections.
Give the co-operative a voice: Both the board and the management will promote the co-op to the public. The board, as representatives of the members, should speak on behalf of the co-op when working with partners, funders, media, or other audiences. They should provide information to members at meetings and give direction to staff. It’s good to have a communications strategy for the board and management that outlines how the co-op communicates with other parties, so everyone is sharing a consistent message.
Management: Depending on the size of the co-operative, the board may directly manage the day-to-day affairs. In larger co-ops, the board usually provides oversight to managers or an executive team. The board will have the final say on many important decisions and may have to deal with conflict or debate that could arise. For example, it’s the board’s job to decide how to allocate the co-op’s profits. To do this, it needs to take a number of things into consideration: adding to reserve funds, investing in the co-op, and distributing profit to members. Decisions like this can lead to conflict, but the co-op can help avoid this by including members in the discussion (and listening to their ideas).
Engage the members: At the end of the day, the co-op exists to serve its members. The board should engage members in important decisions and happenings with the co-op. The board can help ensure members have a sense of ownership with their co-op by communicating openly with them
https://coopcreator.ca/resource/being-a-board-member-in-a-co-operative-business/