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‘Best for the board’ not best
As a long standing director of a not-for-profit policy governance board, words you never hope to hear from a director, let alone the chair, are it’s “best for the board.” Directors serve the corporation and it is their duty is to act solely in the best interest of the corporation, never the Board.
CVAC justifies its decision to compensate directors by referencing other airports such as Victoria and Nanaimo. However, those directors actually run their airports while the Comox airfield is owned and operated by the military. CVAC only oversees the airport terminal building and associated facilities. This arrangement provides the community with a huge opportunity as the Board does not need to concern itself with the running of the airport and can focus its efforts on market development.
In their report on director compensation, it states that one of the negatives of compensation is that it “reduces the amount of financial resources available for other initiatives”. $49,000 annual director compensation is just the start point and could go a long way to provide future capital improvements over time. But heh, it’s “best for the Board” and they can always raise the parking rates again.