Governing Board functions: set mandatory matters to be transacted and prescribe meeting and resolution procedures. The Governing Board shall transact items including regulations, annual accounts and audit, annual budget, annual report, delegation of powers, operations manuals and timelines, expenditures above Rs. 5 crore, office location, staffing and accommodation issues, and other items as required by the Board or law. Matters should be transacted in Governing Board meetings; members may attend via video conferencing; matters may, when necessary, be decided by circulation of an agenda, and any such circulated resolution must be placed before the next meeting for ratification.