Five Types of Board Documents

A board of directors uses numerous documents to perform its duties. They vary from legal requirements to internal guidelines and policies. To make effective decisions, directors must have access to comprehensive, accurate and concise information.

It is crucial that any non-profit organization has the proper document for its board to ensure that it is successful. A board can become overwhelmed with administrative duties without the appropriate materials and lose focus on strategy. It is essential to keep these five documents in your arsenal in order to ensure that your board is meeting its fiduciary obligation of accountability.

Board papers are the documentation that board members go through prior to and during the board meeting. These documents are important because they provide context and background information which helps boards make informed decisions. Board documents must be concise, clear and Visit This Link swrc2.info/the-software-your-industry-requires-to-do-international-business/ comprehensive. This is an amalgamation of three C’s:

Financial Statements

Board members need an easy-to-read snapshot of the company’s financial health to understand what is owned, how much money is available and what expenses are authorized by the board. The board must be familiar with the company’s finances so they can ask appropriate questions during meetings and monitor the CEO’s financial responsibility.