If you are led by a Governance Board, you are familiar with Policy Governance, which is the key function of that Board.
Whereby Policies could be defined as Wikipedia tells us: a principle or rule to guide decisions and achieve rational outcome(s); the Procedure is what is actually done, the work, to achieve the Policy.
There are four types of policies – framework, Board self-governance, operational and advocacy.
Framework policies include such statements as an organization’s vision, mission, and belief or aim statements. Board self-governance will include policies which direct the how to of governance, such as policy making, governing style, code of conduct, and orientation, recruitment and evaluation. Operational policies of course refer to operations, such as financial and programming. As the title suggests Advocacy policies will set out how your organization promotes itself to the public, or how it will deal with sensitive and /or controversial issues.
Policies should be part of a regular review, and be reflective of the organization’s planning cycle. In addition to the Objects and Bylaws; policies and procedures will be the framework documents that enhance efficiencies, clarify roles and define what you do.
Developing Policy: Board Development Program
The Canadian Code for Volunteer Involvement: Volunteer Canada
Blog: Volunteer Canada
Standards Program for Canada's Charities & Non-Profit: Imagine Canada
Policies & Practices: Sector Source
Organizations: Charity Village
Policies & Procedure List: Know How Non-profit
Non-Profit Fiscal Policies & Procedures - A Template & Guide: Compass Point
http://www.compasspoint.org/sites/default/files/documents/Guide to Fiscal Policies and Procedures.pdf