The Village of Waterford Board of Trustees is the governing body of the Village of Waterford, making decisions on operations, policy and procedures, finances and taxes, personnel, and planning. They consider the recommendations of the various committees, commissions, and authorities of village government. The board is responsible for all operations of the Village of Waterford. 

The Board consists of the Village President and six trustees who serve two-year terms. The president and three trustees are elected in odd-numbered years and three trustees are elected in even-numbered years.