Five Types of Board Documents

A board of directors is dependent on several types of documents to fulfill its duties, ranging from legal requirements to internal policies and guidelines. To make informed decisions, boards must have access detailed, accurate and clear information.

It is crucial that a non-profit organisation has the correct documents for its board to ensure success. Without the right documents, boards can become overwhelmed with administrative duties and lose focus on growth strategies. It is essential to have these five documents on hand to ensure that your board is meeting its fiduciary duty of accountability.

Board papers are the documents that board members are required to read prior and during board meetings. These documents are essential because they provide the context and background that enables boards to make informed decisions. Board papers should be short, concise and clear. This is the result navigate to this board software of three C’s:

Financial Statements

Board members need an easy-to-read snapshot of the financial health of their company to determine what’s owned, how much money is on hand and what expenses are authorized by the board. The board must be knowledgeable with the company’s finances in order to ask the appropriate questions during meetings and supervise the CEO’s financial accountability.