I offer this as a help in understanding the modern single elder POV. (This is not my POV)
Chuck Smith from "Calvary Distinctives"
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We (Calvary Chapel) believe that God's model is the the pastor is ruled by the Lord and aided by the Elders to discover the mind and will of Jesus CHrist for His church. This in turn is implemented by the Assistant Pastors.
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Smith teaches that the church should be structured like a theocracy with the pastor being like Moses and then setting up elders to help with judgment like God commanded Moses to do in Exo 18.