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For any type of organisation, charity or community, the board documents define the structure and governance of the company. Without these documents there would be no guidance on how to act and no accountability for the organization. They are not just important to ensure that the board meets its fiduciary responsibilities, but also offer transparency and accountability to those who are involved.
It is important to have the proper documents on hand prior to the board of directors meeting. This will allow for a productive discussion and ensure that all members arrive prepared. This can only be achieved by ensuring that the information contained in the documents is concise and clear, and if it is presented with a strong focus on the Three C’s concise, clear and complete.
Some of the most important documents for boards include annual agendas, reports and financial reports as well as the board resolution outline. The organization’s requirements determine whether these are either made public or kept private, but all provide information to the public about the organisation’s development and direction.
Board policies are another important document that is often not considered. They establish the standards and guidelines of how a board operates. They could include self-evaluation, board-staff relationships and volunteer policies, as well as financial management practices.
Organizations are increasingly utilizing electronic board books, such as the BoardWorks portal. This can help cut costs by removing the requirement to print, bind and mail paper documents. These platforms also facilitate greater involvement by directors during meetings, since they can quickly access and find documents on the platform.