SHIPO is governed by a Board of 8 members. The Board usually meets quarterly. The first meeting in January is a social meeting with the staff of the company. The second meeting in May is the Annual meeting where the draft Annual Report for the finished year is reviewed and approved. It is also the evaluation and policy review meeting. The third meeting in July is the strategic planning meeting. At this time the year-end performance projections are reviewed and goals for the next year are set. The fourth meeting in November is next year’s budget review and approval meeting.