Board documents form the foundation of every organization, regardless of whether it is a charity, community or organisation. They provide the structure and governance of the organization. These documents are essential for the accountability and direction of the organisation. These documents are not just to ensure that the board meets its fiduciary obligations and to ensure transparency and accountability for all stakeholders.
It is essential to have the proper documents available before a board of directors meeting. This will help facilitate a productive discussion and ensure that all members arrive well prepared. This is only possible if the information is presented in a concise, clear and complete manner.
Agendas, annual reports and financial reports are some of the most important documents compiled by boards. Depending board software on the organisation, they may be made public or kept private however, they all provide information to the stakeholders of an organisation’s progress and direction.
Another crucial document that is often ignored are the board policies, which define guidelines and standards for how a board should operate. These could include a self-evaluation policy, board-staff relationship policy, financial management policies or volunteer practices.
The board documents that are included in an electronic board book, such as a BoardWorks portal is increasingly being utilized by organizations and can cut down on costs associated with printing binding, mailing and binding director’s documents on paper. Furthermore these platforms facilitate better communication between directors during meetings because they can find and access documents on the platform.