Welcome, wow!
I suspect you are indeed out in left field on "its" vs "their." This has been discussed here before (in the context of "their" as a politically correct way of avoiding gender in the singular - "A person should be nice to their neighbor" - a usage I abhor), but I'm betting the Brit contingent among us would find nothing wrong with the use of "their" as a pronoun for "The Board." They use collectives such as "government", sports teams' names, etc in the plural. Which kind of makes sense, if you're thinking component-wise. For example, "The board disagreed among itself" sounds absurd.

(awaiting cross-Pond/Antipodean comment, clarification, correction)