That Jesus Christ is the Lord and Head of the Church and that every local church has the right, under Christ, to decide and govern its own affairs.
When we speak of church governance, it is important to remember that Jesus Christ is the Lord and Head of the Church (Col. 1.15-20), but Scripture is clear that there are human leaders to be obeyed and honored by the church (1 Thess. 5.12; Heb. 13.17). Multiple forms of governance are found in the NT. We see episcopal governance with the authority invested in the disciples to build the church (Mt. 28.18) as well as Paul’s authority to appoint elders (Acts 14.23). A hierarchical governance seems to have developed in church history as well. Elder leadership is also found throughout the NT (11.30; 20.17). But there is also support in the NT that shows the local church has the right, under Christ, to decide and govern its own affairs. We see the authority of the local church exercised in the selection of Judas’ replacement apostle (Acts 1), the selection of the first deacon board (Acts 6), the sending of Paul and Barnabas (Acts 15.2-3), as well as having a role in church discipline (Mt. 18.15-17; 1 Cor. 5).
There does not seem to be a prescriptive church government. It seems an elder led congregation, where elders are raised up from within the congregation, seems to be the best form of government. It affirms the order and authority of leadership, but recognizes the collective authority of the church under Christ.