King Memorial Library
Conflict of Interest Policy
The purpose of the following policy and procedures is to prevent the personal interest of staff Members and board members form interfering with the performance of their duties to King Memorial Library or result in personal, professional or political gain on the part of such persons at the expense of King Memorial Library or its patrons, supporters, and other stakeholders.
Definitions: Conflict of Interest (also Conflict) means a conflict, or the appearance of a conflict between the private interests and official responsibilities of a person in a position of trust. “Interest” means a direct or indirect pecuniary or material benefit accruing to a Library trustee or employee as the result of a contract with the Library which such officer or employee serves. Persons in a position of trust include staff members, officers, and board members of King Memorial Library. Board means the Board of Trustees. Officer means an officer of the Board of Trustees. Volunteer means a person – other than a board member—who does not receive compensation for services and expertise provided to King Memorial Library. Staff Member means a person who receives all or part of her/his income from the payroll of King Memorial Library. Supporter means corporations, foundations, individuals, 501 (c ) (3 ) nonprofits, and other nonprofit organizations who contribute to King Memorial Library.
POLICY AND PRACTICES
- Full disclosure, by notice in writing, shall be made by the interested parties to the full Board of Trustees in all conflicts of interest, including but not limited to the following:
- A board member of his/her organization accrues a direct or indirect pecuniary or material benefit from an King Memorial Library transaction or staff member of such organization receives payment from King Memorial Library for any subcontract, goods, or services other than as part of her/his regular job responsibilities or as reimbursement for reasonable expenses incurred as provided in the bylaws and board policy.
- A board member’s organization receives grant funding from King Memorial Library.
- A board member or staff member is a member of the governing body of a contributor to King Memorial Library.
- A volunteer working on behalf of King Memorial Library who meets any of the situations or criteria listed above.
- Following full disclosure of a possible conflict of interest or any condition listed above, The Board of Trustees shall determine whether a conflict of interest exists and, if so the Board shall vote to authorize or reject the transaction or take any other action deemed necessary to address the conflict and protect King Memorial Library’s best interests. Both votes shall be by a majority vote without counting the vote of the interested director, even if the disinterested directors are less than a quorum provided that at least one consenting director is disinterested.
- No Board of Trustee shall serve as an employee of the King Memorial Library.
- An interested Board member, officer, or staff member shall not participate in any discussion or debate of the Board of Trustees, or of any committee or subcommittee thereof in which the subject of discussion is a contract, transaction, or situation in which there may perceived or actual conflict of interest. However, they may be present to provide clarifying information in such a discussion or debate unless objected to by any present board or committee member.
- Anyone in a position to make decisions about spending King Memorial Library’s resources (i.e., transactions such as purchases contracts)- which may result in a conflict of interest has a duty to disclose that conflict as soon as it arises (or becomes apparent); she/he should abstain in any final decisions.
- A copy of this policy shall be given to all Board Members, staff members, or other Key stakeholders upon commencement of such person’s relationship with King Memorial Library or at the official adoption of stated policy. Each board member, Officer, staff member shall sign and date the policy at the beginning of her/his Term of service- employment. Failure to sign does not nullify the policy.
I the undersigned, by their affixed signature, note their understanding of the implications of this policy.