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Montabella board approves bank depositories, committee structure and member pay policy
Summary
The board approved Isabella Bank depositories, the BMO Mastercard purchase card program and Milaf+ signatories; it established standing committees and set member pay at $30 per meeting (max $599/year).
The board approved financial and governance housekeeping items at the Jan. 19 meeting. Isabella Bank was named as the depository for payroll, the general fund, debt service and site & building fund; ACH transactions were approved through Isabella Bank. The board also approved the BMO Mastercard purchase card program and Milaf+ signatories as presented.
Separately, the board established standing committees (Personnel/Fiscal; Curricular/Policy; SupportService/Facility/PR) with the president authorized to appoint ad hoc and standing committees of no more than three members. The board also approved remuneration of $30.00 per meeting per member up to a maximum of $599 per year and outlined training/conference allowances for new members. All motions recorded passed unanimously.
