I like the idea of using a post with the latest event loaded into a static page. The ideal I think (not just for ISOW but any page) is for all of its dynamic content to be posts. That fits the Wordpress model which is oriented towards the Post as the main thing. You need a higher level of access to modify Pages, for instance.
I think the best way to execute that would be through the Categories system. Right now we have an
officers-workshop category. Any post assigned to that category will go on the ISOW page because there is a code in the page like this:
[catlist name="officers-workshop" date="yes" excerpt="yes" orderby=date]
You could create another category, like
officers-workshop-main or something and put in a code like
[catlist name="officers-workshop-top" content=yes numberposts=1]
into the ISOW page. That would only hold the most recent post assigned to that category. You could also assign the post to other categories simultaneously to make it appear multiple places (e.g. the
front-page category). I like this as a general kind of arrangement.
[added] I should point out that using the
content=yes code in a page can be dangerous because if you are including a post that also has an include code you can get into an infinite recursion situation. That could crash the server.