Monthly Financial Reports... Part 3 The Dashboard
Perhaps the most important report you can provide your Board is a 'dashboard.' The dashboard is a way of focusing the Board's attention on the key operating issues for your nonprofit. What are the 5 key indicators of organizational health for your organization? For most of us, one indicator is months of cash on hand. This is simply the amount of cash you have, divided by your average monthly expenditures. (See, you knew the budget would come in handy.) Other monthly indicators might be: clients served, fundraising calls made and their results, status of liabilities. Where should the board focus it's attention? And if this is all sounding like a foreign language, sit down with your treasurer and they can probably help you come up with a list. And then, put that summary of key operating metrics at the front of your package, where it will be easy to find.