Each member of a regional board shall receive two hundred fifty dollars ($250) for each day during which that member is engaged in the performance of official duties. The performance of official duties includes, but is not limited to, reviewing agenda materials for no more than one day in preparation for each regional board meeting. The total compensation received by members of all of the regional boards shall not exceed, in any one fiscal year, the sum of three hundred seventy-eight thousand two hundred fifty dollars ($378,250). A member may decline compensation. In addition to the compensation, each member shall be reimbursed for necessary traveling and other expenses incurred in the performance of official duties.