b'MEDA BOARD GOVERNANCE PLANThe Board of Directors is MEDAs highest-level decision- procedures. This Strategic Plan reflects a period of critical making body. Its primary roles are to provide oversight,change for the Board: MEDAs rapid growth in programs, monitor finances and maintain its own internal operationsassets and staff over the past decade has resulted in an that support satisfaction of these duties. Because ofexpanded set of Board responsibilities. As such, the their critical importance, we have incorporated withinBoard plans to expand in size, incorporate new MEDAs Strategic Plan 2021-24 the Boards plans formembers with currently underrepresented knowledge strengthening their governance systems andand skills, and establish greater role clarity. For the 2021-24 planning cycle, MEDAs Board has prioritized efforts to: DOMAIN BOARD STRATEGIESMaintain organizationaln Implement existing Board plans to expand membership: first tooversight, risk management 15 members, and gradually to 21. This expanded capacity will better and compliance monitoring equip the Board to fulfill all of their duties.Supervise and manage n Draw from best practices in fiscal management from otherMEDAs financial assets affordable-housing developers.n Host series of trainings for Board members on risk managementand financial oversight.Determine priorities forn Take inventory of Board members skills to determine outstandingrecruiting new Board members needs for future recruitment.n Target prospective Board members with fundraising and financial management experience.n Ensure compliance with Board composition requirements. Define the relationship n Create an organizational map for MEDAs various Boards, detailingbetween the MEDA Board their respective authorities, roles and decision-making capacities.and other affiliated Boards(Mission Adelante, Fondo Adelante)Maintain operations of n Delegate new Board members to support ongoing committee operations.the Boards committees n Establish, and document, role clarity for individual Board membersEnsure individual Boardand their stated duties.members accountability n Facilitate regular self-assessments of Board members regardingto their responsibilities their fulfillment of duties.Determine fundraisingn Strengthen systems to engage Board members in fundraising.requirements for individual n Improve communication systems with staff, so that Board membersBoard members are consistently prepared to speak about MEDAs recent successesas organizational brand ambassadors, representatives, advocatesand fundraisers.Standardize practices forn Establish mentorship or buddy system to integrate newonboarding and orienting Board members.new Board members34MISSION ECONOMIC DEVELOPMENT AGENCY'