Five Types of Board Documents

A board of directors employs numerous documents to perform its duties. These include legal requirements, as well as internal guidelines and policies. In order to take effective decisions, boards require access to concise, clear and complete information.

Having the right board documents is crucial for any non-profit organization to be successful. Without the right materials, boards can become caught up in administrative work and lose focus on strategic growth. It’s vital 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 documents that board members study prior to and during board meetings. They are crucial because they provide the context and background that enables boards to make informed decisions. Board documents must be short, concise Click This Link swrc2.info and clear. This is the result of three C’s:

Financial Statements

Board members require an easy-to-read picture of the financial health of their company to determine what’s owned, how much cash is available and what expenditures are authorized by the board. The board needs to be informed about the company’s finances so they can ask appropriate questions during meetings and supervise the CEO’s financial reporting.