Sheboygan County Economic Development Corporation

“In the interim between meetings of the board, the executive committee shall have the authority to exercise all powers of the board in the intervals between meetings in accordance with the policies of the corporation and subject to the general direction of the board, except that it shall not fill vacancies on the board, elect officers, amend the by-laws or articles of incorporation, borrow or lend corporation funds amounting to any more than ten percent (10%) of the corporation's operating budget, or do other acts which are prohibited bylaw.”

“Our board consists of business leaders from across the county. Many directors have established relationships with one another, and some board members are competitors. These connections are inevitable with a board this size. Each board member is required to sign an agreement that states each board member is not on the board for their own personal advantage or their friends and supporters.”

“Finance committee reviews and then sent electronically to the board of directors.”

“The policy covers the board of directors, and the potential conflicts are reviewed every year by the executive committee. Restrictions for those that are found to have a conflict of interest are dependent on the type of conflict. In most cases the board member can still participate in meetings but are not able to vote on matters they have the conflict with. However, they may not sit in on meetings if the conflict is with a direct owner of an entity the meeting is about. The organization documents proceedings resulting from conflicts of interest in the minutes.”

“The officers perform an annual review of the executive director. It will then seek information tied to compensation and other comparable data. The review will be reported to the executive committee. The executive director performs reviews of the scedc staff on an annual basis. The decisions are outlined in the annual budget. We summarize the range of increases to the staff in the budget document that is approved by board. No compensation for officers, the executive committee reviews comp for executive director and key employees. The process described here was last completed in 2021.”

“Documents are available upon request.”

“Housing initiative - the corporation is constructing entry level homes to assist with the housing shortage in the labor market. This is part of our workforce development and recruitment efforts to support company and job growth in the county.”

“Monthly meetings of the finance committee to provide greater oversight of monthly activities.”