Fiduciary Responsibilities Case Study

1206 Words 5 Pages
Fiduciary Duty

Weese (2009) defines Fiduciary as a person or organization that has legal, financial responsibility for another organization (Weese, 2009, p. 390). Fiduciary duty is the highest standard of responsibility. The following paper will demonstrate the University of North Carolina at Pembroke’s (UNCP) fiduciary duties with recommendations.
Leadership and responsibility begin at the top; the paper begins first identifying UNCP’s Board fiduciary duties followed by recommendations on how to improve. The board guarantees that the organization is operated according to the laws and within the framework of its mission (Boards and Governance | ArtsBC, n.d.). The board assists in developing the annual budget and ensuring that appropriate financial
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The board is responsible for recruiting, hiring, and developing the President; annually appraise the President in a constructive way, and hold the President accountable (Fiduciary Behavior: What's the Responsible Trustee to…, n.d.). Accountability of the President includes responsibility for maintaining a healthy institutional culture, such as with shared governance. It is the board’s role to find a new President. “The board chair represents the board and has the most crucial relationship with the president. The board chair should be in regular, informal contact with the president. The more contact among members of the council and faculty, the more information, will be generated for the board, and in particular, for board members to convey to the president” (Fiduciary Behavior: What's the Responsible Trustee to…, …show more content…
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