A board of directors requires that management report to it all of an organization's relevant information in a concise, easy to follow format. You will need to report on the financial health of the organization and share your plans with the board.
Prepare all necessary documents and provide a copy to each board member. At a minimum, you should provide to the board a financial statement and a management report noting anything unusual that has occurred. The financial statement should be no longer than one page.
Review the minutes from the last meeting of the board. If there are any items from the last board meeting that are awaiting resolution, address them at this time. Otherwise, you should spend very little time on review of the minutes from the last meeting.
Give an overview of what has happened in the organization since the last time the board met or the last time that you reported to the board. Do not devote unnecessary time to aspects of the organization that are operating normally. You should only spend a sentence or two on operations of the organization that are not exceptional in any way.
Compare what was planned to what actually happened. Mention any acquisitions of property or new assets, employee issues, including relevant new hires or terminations, and new programs, services or products. Do not leave out negative outcomes.
Distribute and review the financial statements. Point out to board members your organization's overall profit or loss. If there are any significant departures from projections, offer a concise explanation.
Outline your plans for the future of the organization, including a broad overview of the projected growth, revenues, new projects and employee development.
Solicit the comments of the board through a question and answer session. Ask the board members if they understand the projected growth of the organization and what their recommendations may be. At this time, you should also set a date for the next meeting of the board, if possible.
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