A board of directors rely on a variety of documents to carry out its responsibilities, from legal requirements to internal guidelines and policies. To make effective decisions, a board needs access to clear, concise and complete information.

The proper board documents is essential for any non-profit organisation to be successful. A board can get overwhelmed with administrative duties without the proper materials and lose focus on the strategy. To ensure that your board is fulfilling the fiduciary responsibility of linked here swrc2.info/learn-how-to-use-board-portal-by-following-these-5-simple-instructions/ accountability, it’s crucial to keep these five important documents in the right place:

Board papers are the documentation that board members review before and during the board meeting. They are crucial because they provide the background and context that allows boards to make informed decisions. Board documents should be concise, clear and complete. This is the result of three C’s:

Financial Statements

Board members need a picture of the financial health of the business that is easy to read. This will allow them to understand what the company owns, how much cash is in the bank, and what expenses have been voted on by the board. The board needs to be familiar with the company’s finances to ensure that they can ask the appropriate questions during meetings and also supervise the CEO’s financial reporting.