Common use of Board of Directors The Board is responsible for Clause in Contracts

Board of Directors The Board is responsible for. ‌ a. Setting the goals, objectives, and strategic directions for the LHIN consistent with its mandate as defined by LHSIA, applicable Government policies, and this MOU. b. Monitoring the performance of the LHIN. c. Directing the affairs of the LHIN and setting overall priorities so as to fulfill its mandate. d. Directing the development of, reviewing, and approving the LHIN’s annual business plan, budget and annual report, and submitting them to the Minister in accordance with the timelines specified in the Directives, this MOU, or within the timelines agreed upon with the Ministry. e. Ensuring that the LHIN operates within its approved budget allocation in fulfilling its mandate. f. Reporting to the Minister, through the Chair, as requested on the LHIN’s activities within agreed upon timelines. g. Making decisions consistent with the annual business plan approved for the LHIN and ensuring that the LHIN operates within its allocations. h. Ensuring that the LHIN manages its affairs in compliance with the Directives. i. Ensuring that the LHIN uses public funds prudently and only for the business of the LHIN based on the principle of value for money, and in compliance with applicable legislation and the Directives. j. Ensuring that LHIN funds are used with integrity, honesty, fairness and effective controllership. k. Ensuring that the LHIN is governed in an effective and efficient manner according to accepted business and financial practices, and in accordance with applicable Directives. l. Establishing such Board committees or oversight mechanisms as required by LHSIA or as may be required to advise the Board on the effective management, governance or accountability procedures for the LHIN. m. Developing written position descriptions, roles and responsibilities for Board committee chairs and members. n. Approving the MOU for the LHIN and the Accountability Agreement in a timely manner and authorizing the Chair to sign the MOU and the Accountability Agreement on behalf of the LHIN. o. Approving the LHIN’s reports and reviews that may be requested by the Minister from time to time for submission to the Minister within agreed-upon timelines. p. Performing an annual assessment of the effectiveness of the Board as a whole and on Board Members using tools common to all LHINs. q. Directing the development of an appropriate risk-management framework and a risk-management plan and arranging for risk-based reviews and audits of the LHIN as needed. r. Requiring that LHIN employees and that every Board Member abide by the Conflict of Interest Rules. s. Complying with the Conflict of Interest Rules, including the post-service provisions that apply to designated senior positions in the LHIN. t. Ensuring that appropriate management systems are in place (financial, information technology, human resources) for the effective administration of the LHIN.