2020 year in review: GBCI Governance
At GBCI, the governance team advises and supports the GBCI Boards of Directors in fulfilling its fiduciary responsibilities and works closely with Mahesh Ramanujam, President & CEO, who is the Boards’ direct employee and serves on the board in a non-voting capacity. Much of the board’s work is conducted annually:
- orientation of new directors and officers;
- appointment of volunteers to board committees;
- assessment of the President & CEO’s prior year performance;
- monthly review of financials and the independent audit of the prior fiscal year;
- recruitment and the election of directors to start the following year;
- approval of the following year’s annual budget.
In addition to supporting the activities above, the governance team is responsible for managing the board’s calls and in-person meetings throughout the year. In 2020 the GBCI Board held 4 calls and 3 in-person meetings. (Due to the pandemic, we transitioned the in-person meetings to virtual meetings; the only difference between calls and meetings is the length of time.) In addition, the GBCI Board addresses time-sensitive and urgent matters, as they arise, via email and special meetings. The governance team also works with the GBCI board chair to ensure the board has the information and guidance needed in order to lead.
Look ahead to 2021
The annual work of the GBCI Board is already underway. This year, the GBCI Board will undertake a strategic planning effort, and, in light of the pandemic and related economic downturn, will continue to closely monitor the organizations’ financials as the board did in 2020.