What typically falls under the authority of the board of directors?

The authority of the board of directors primarily includes high-level oversight and strategic governance for an organization. This encompasses making major decisions that affect the organization's direction, such as approving budgets, setting long-term goals, and making significant policy determinations. The board also has the responsibility of overseeing the organization's management and ensuring that its operations align with the established mission and objectives.

In addition to decision-making regarding the organization's strategy, the board of directors has the authority to delegate specific operational tasks to the executive team while retaining oversight. This delegation allows for effective management of daily operations, but the ultimate responsibility for the organization's success rests with the board.

The other options pertain to functions more suited to operational management or specific roles within the organization. For instance, daily tasks and employee payroll are typically managed by the executive management team or department heads, and while the board may be involved in selecting the executive team, the process is not its primary authority. Instead, the board acts as a governing body ensuring that the organization adheres to its goals and legal regulations, which supports the conclusion that making major decisions and delegating tasks are fundamental roles of the board of directors.