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Ethics. Fiduciary Responsibility.

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Presentation Transcript
fiduciary responsibility
Fiduciary Responsibility
  • A fiduciary duty is a legal and ethical relationship of trust between parties, a fiduciary (trustee) and a principal (beneficiary). The vulnerable party (principal) must understandably trust the fiduciary. Good conscience requires the fiduciary to act for the sole benefit of the principal.
  • A fiduciary duty is the highest standard of care in law and equity. A fiduciary is expected to be extremely loyal, must not put personal interests before this duty, and must not profit from the fiduciary position.
  • A fiduciary cannot have a conflict of interest. It is the duty of a fiduciary to recognize potential conflicts and to avoid even the appearance of conflict.
conflict of interest
Conflict of Interest
  • An appearance of conflict of interest may be allowed as long as full and complete disclosure is made BEFORE discussion, recommendation, vote or other action.
  • Such disclosure must be recorded in the minutes.
  • Even then, a supervisor may choose to refrain from participating in the discussion and action.
  • Nepotism broadly means that no official may employ, appoint, vote for, advance or recommend a relative for employment, nor participate in any matter in which the official, his/her immediate family, business or future employer has a financial interest.
  • A public official must protect the confidential information revealed during discussions, proposals and negotiations.
  • Generally, you may not use public resources for political or private purposes.
    • Examples of “public resources” include: office computers, phones, fax machines, postage machines, copiers, official cars, staff time, sick time, uniforms, and official seals.
  • What does “diversity” mean for your board?
    • Race, ethnicity, sex, age, location, occupation
  • What would diversity bring to your board?
    • Leadership, fund-raising, education/outreach or other skills
  • If your conservation district is not representative of different geographic regions within the district, board members can split the district into more than one voting district.
ethical do s and don ts
Ethical Do’s and Don’ts
  • You may not ask for or accept anything (regardless of its value), if it is offered in exchange for your agreeing to perform or not to perform an official act.
  • You may not ask for or accept anything worth $50 or more from anyone with whom you have official dealings.
  • You may not hire, promote, supervise, or otherwise participate in the employment of your immediate family or your spouse’s immediate family.
  • You may not take any type of official action that will affect the financial interests of your immediate family or your spouse’s immediate family. For instance, you may not participate in licensing or inspection processes involving a family member’s business.
  • You may not take any official action affecting your own financial interest, or the financial interest of a business partner, private employer, or any organization for which you serve as an officer, director or trustee.
ethical do s and don ts1
Ethical Do’s and Don’ts
  • Bribes : Asking for and taking bribes is prohibited. Bribes of any value are illegal.
  • Gifts & Gratuities : Asking for or accepting a gift because of your official position, or because of something you can do or have done in your official position, is prohibited.
  • Misuse of Position : Using your official position to get something you are not entitled to, or to get someone else something they are not entitled to, is prohibited. Causing someone else to do these things is also prohibited.
  • Self-Dealing and Nepotism : Participating as a state employee in a matter in which you, your immediate family, your business organization, or your future employer has a financial interest is prohibited.
ethical do s and don ts2
Ethical Do’s and Don’ts
  • False Claims : Presenting a false claim to your employer for a payment or benefit is prohibited, and causing someone else to do so is also prohibited.
  • Appearance of Conflict : Acting in a manner that would make a reasonable person think you can be improperly influenced is prohibited.
  • Confidential Information : Improperly disclosing or personally using confidential information obtained through your job is prohibited.