How is our co-op organized? Co-op Member Series 2013

Our housing co-op is  a membership association 1

Our housing co-op is  a housing development 2

 a housing business  a real estate asset 3 Our housing co-op is

 a community 4 A housing co-op is

Member service 5

Officers Auditor Contract and Professional Services Other Staff Manager Mgt Company Committees Housing Co-operative Members Board of Directors

Directors and members 7 Housing Co-operative Members Board of Directors electsreports

Members authority  Co-op members make key governance decisions that only members can make 8

Members role in governance 9

10

Board of directors The board’s role is to set the co-op’s overall direction, provide guidance to managers, make decisions and keep a careful eye on the results. 11

Board authority The board, at board meetings, has the authority to decide everything that is not reserved for the members in the co-op act. 12

The board responsibilities 13

Board responsibilities 14

Board decisions Our board of directors shows good governance when they make decisions together 15

All directors are equal Directors are one among equals 16

Directors authority Directors only have power at a board meeting or when authority to act has been delegated by the board 17

Board unity Board speaks with one voice 18

Management  Managers (and staff) are responsible for taking care of the day-to-day business of the co-op to achieve the goals set by the members and directors.  Managers need to have specialized property management skills. 19

Management 20 Other Staff reports hires & supervises Manager Mgt Company hires & supervises reports Housing Co-operative Members Board of Directors electsreports

Management Most co-ops hire managers by contracting with a management company or by hiring employees 21

Committees  environmental sustainability  landscaping and gardening  welcoming and orientation  nominations or elections 22

Committees 23 Committees appoints reports Housing Co-operative Members Board of Directors electsreports

Committees  Some may assist the board in governance or sometimes perform management functions  But, it is best that management functions be carried out by managers or staff and not left to committees 24

The auditor gives opinions about  the accuracy of our co-op’s financial statements  our co-op’s financial position 25

Auditor 26 Auditor reports appoint reports Housing Co-operative Members Board of Directors electsreports

Professional services Co-ops need good advice to make sound decisions 27

Professional services 28 Contract and Professional Services reports hires & supervises Manager Mgt Company hires & supervises reports Housing Co-operative Members Board of Directors electsreports

Professional services  Lawyers  Accountants  Engineers  Other specialized consultants 29

elects Officers Auditor reports appoint reports Contract and Professional Services reports hires & supervises Other Staff reports hires & supervises Manager Mgt Company hires & supervises reports Committees appoints reports Housing Co-operative Members Board of Directors electsreports Housing Co-op Organization