Policy 08:01:00 Board of Directors
Revision Responsibility: Board of Directors Responsible Executive Office: Board of Directors |
Mission: Statement of Mission for the Board of Directors: Platt College offers quality undergraduate education and provides graduates with competencies, skills and levels of education for employment and continued success in higher education. The Platt College Board of Directors fosters personal growth by providing strategic perspective and definitive leadership in assisting the President/CEO reach the College's mission. Values
Policy: Platt College Board of Directors has responsibilities to establish and review basic policies as outlined below: The selection, approval, support, and assessment of the performance of the institution’s President/CEO
Duties of the Board of Directors
Conflict of Interest It must be absolutely clear that a majority of the Board of Directors, regardless of the total number of board members, must be made up of directors who are public members and, thereby, can make decisions free of any personal or financial interests.” The Code of Ethics presented below also deals with matter of conflict of interest. Board of Directors Code of Ethics
Ensure the Financial Integrity of the College The financial integrity of the College is reviewed bi-annually by the Board of Directors. Hire and Evaluate the Chief Executive Officer The College shall have a President, who shall also be the chief executive officer of the College, and the Board of Directors shall have input into the hiring that individual. The President of the College shall have such powers and duties as may be delegated to him by the directors. Board of Directors Meetings The Board of Directors shall meet at least quarterly each year. Additional meetings may be held upon call of the Chairperson of the Board or upon the call of three Directors. Board Member’s Responsibility to Communicate The Board of Directors shall individually communicate, in a timely fashion to the College President/CEO or Chairperson, areas of operation or agenda items which are of concern so that these matters may be acted on before the Directors’ meeting as appropriate. The President and the Vice President’s Responsibility to Communicate The President will be the main conduit of information from the College to the Board of Directors to make sound judgments. The President maintains open lines of communication with faculty, staff, the Board of Directors, students and all college constituents as appropriate. The Vice President of Academics Affairs will be the source of the flow of information from the College to the President. Working and Reporting Relationships between the Governing Board and the Administration. One of the Board of Directors’ responsibilities is delegating to the President/CEO and through him/her to the appropriate officers, general authority and responsibility to carry out policies and procedures of the Board of Directors. The President’s job description details the line of authority from the President to the Vice Presidents of the College. In the absence of the President, the Vice President of Academic Affairs has the authority to be the responsible agent for the total operation of the College within the policies and procedures. Appointment and Term of Office
Conflict of Interest and Disclosure It is recognized that actual or potential conflicts of interest may arise because of the multiple interests and activities of the Board of Directors. However, Board members have a responsibility to discharge their duties in good faith, with a high degree of diligence, care and skill, for the sole benefit of the College. Pursuant to the Policy, Board members shall be required to file an annual disclosure statement with the Chairperson of the Board of Directors. Any Board member having an actual or potential conflict of interest which might affect or appear to affect his or her position or action in any matter coming before the Board shall disclose the conflict, shall not vote or use his or her personal influence to effect the voting on such matter, and such member should not be counted in determining the quorum of a meeting at which action on such matter is to be taken. The minutes of the meeting shall reflect the individual's abstention from voting. This policy is not intended to prohibit Board members from furnishing services or goods or otherwise entering into business relationships with the College. However, such an arrangement or contract must be pursuant to an arm's length agreement for fair and reasonable consideration, with the exception that the College may receive donated or discounted goods and services. The Policy on Conflict of Interest is adopted for the guidance of the Board members and is to be enforced solely by the Board of Directors. Provisions of Insurance Provisions of Insurance. By action of the Board of Directors, notwithstanding any interest of the Directors in the action, the corporation may purchase and maintain insurance, in such scope and amounts as the Board of Directors deems appropriate, on behalf of any person who is or was a director, officer, employee, fiduciary, or agent, of the corporation, or who, while a director, officer, employee, fiduciary or agent of the corporation, is or was serving at the request of the corporation as a director, officer, partner, trustee, employee, fiduciary or agent of any partnership, joint venture, trust, profit or non-profit unincorporated association, limited liability company, other enterprise, or employee benefit plan, against any liability asserted against, or incurred by, such person in that capacity or arising out of such person’s status as such, whether or not the corporation would have the power to indemnify such person against such liability under applicable law. Any such insurance may be procured from any insurance company designated by the Board of Directors of the corporation, whether such an insurance company is formed under the laws of Colorado or any other jurisdiction of the United States or elsewhere, including any insurance company in which the corporation has an equity interest or any other interested, through stock ownership or otherwise. |
Revised: August 10, 2009, September 10, 2018, March 18, 2019 |