Whether for an organisation, charity or community, the board documents define the structure and governance of the company. These documents are essential for the accountability and direction of the organisation. These documents are important not only to ensure that the board performs its fiduciary duty as well as to provide transparency and accountability to all stakeholders.
It is crucial to have the proper documents ready prior to a board of directors meeting. This will aid in having a productive discussion and ensure that all members arrive prepared. This can only happen by ensuring that the information in the papers is clear and concise, and when it is presented with a sharp focus on the Three C’s Clear, Concise, and Complete.
Some of the most important documents of the board include annual reports, agendas financial reports, as well as board resolution outlines. Depending on the organization they are either made public, or kept confidential. But, they all provide information on the direction and progress of an organization to all stakeholders.
Board policies are a crucial document that is often overlooked. They outline the guidelines and standards of the way boards operate. These could include a self-evaluation policy as well as a policy for the relationship between staff and board members. financial management policies or volunteer practices.
The use of board documents in an electronic board book, such as the BoardWorks portal, is increasingly being used by organisations and can reduce costs associated with printing, binding and mailing director’s files on paper. Furthermore these platforms permit better engagement amongst directors during meetings as they can locate and access the documents from productive board of directors the platform.