Board Reporting Package: What to Include and How to Present
Structure your board materials to enable effective oversight and decision-making.
Key Takeaways
- •Start with an executive summary—not everyone reads the whole package
- •Tell a story: situation, performance, outlook, decisions needed
- •Highlight variances and drivers—don't make board members hunt for insights
- •Keep it concise: 15-25 pages core; detail in appendices
The board package is your primary communication tool with directors between meetings. A well-structured package enables board members to prepare for productive discussions rather than spending meeting time deciphering data.
This guide covers what to include in a board package, how to structure it, and best practices for financial presentation to boards.
Package Structure
A logical structure helps board members navigate the package efficiently. Most effective packages follow a similar flow.
Standard Board Package Structure
1. Agenda (1 page)
Meeting topics with time allocations and presenters
2. Executive Summary (1-2 pages)
Key highlights, concerns, and decisions needed
3. Financial Report (5-8 pages)
P&L, balance sheet, cash flow, variances, and narrative
4. KPI Dashboard (2-3 pages)
Financial and operational metrics with trends
5. Operational Update (3-4 pages)
Sales, customers, operations, and people
6. Strategic Update (2-3 pages)
Progress on strategic initiatives and market developments
7. Items for Board Action (as needed)
Resolutions, approvals, and decisions required
The Executive Summary Is Critical
Some board members will read every page; others will skim. The executive summary ensures everyone knows the key points. Write it last, after you've completed the rest of the package and know what's most important.
The Executive Summary
The executive summary should answer the question: "What does the board need to know about this period?"
Executive Summary Components
Performance Headlines
3-5 bullet points on financial and operational performance
Key Wins
Significant positive developments worth highlighting
Key Challenges
Issues that need board awareness or input
Outlook
Forward view: confidence in plan, risks, opportunities
Board Action Items
Decisions or approvals needed this meeting
Example Executive Summary Opening
"Q3 revenue of $5.2M exceeded budget by 4% driven by strong performance in our enterprise segment. EBITDA margin declined 200 bps due to accelerated hiring ahead of plan. Cash position remains strong at $2.1M with $1.5M credit line available. Key focus this quarter is sales team productivity, which is tracking below target as new hires ramp. We request board approval for the revised FY26 budget reflecting current trajectory."
The Financial Report
The financial section is the CFO's primary contribution. It should provide clarity on performance, not just data.
Income Statement Presentation
- Show comparisons: Actual vs. Budget vs. Prior Year
- Calculate variances: Both dollars and percentages
- Highlight significant items: Use color or callouts for material variances
- Show trends: Monthly or quarterly trends over time
- Group meaningfully: Roll up detail but show key line items
Variance Analysis
Numbers without explanation aren't useful. Every significant variance needs narrative.
Good Variance Explanation
"Revenue exceeded budget by $180K (4%) primarily due to early renewal of the Acme Corp contract ($150K) which was budgeted for Q4. Underlying growth was slightly ahead of plan at 1%."
Poor Variance Explanation
"Revenue was favorable to budget."
(No insight into why or sustainability)
Cash Flow Presentation
Cash Section Should Include
The KPI Dashboard
A KPI dashboard provides quick visual assessment of business health. Focus on metrics that drive decisions, not everything that can be measured.
Financial KPIs
- • Revenue and growth rate
- • Gross margin %
- • EBITDA and margin %
- • Cash position
- • Working capital metrics
- • Debt/EBITDA (if applicable)
Operational KPIs
- • Customer count/retention
- • Sales pipeline
- • Win rate
- • Employee headcount
- • Industry-specific metrics
- • Strategic initiative progress
Don't Overwhelm with Metrics
More metrics isn't better. A dashboard with 50 KPIs provides no focus. Limit to 15-20 key metrics that the board can actually track over time. Put additional operational detail in appendices for those who want it.
Formatting Best Practices
Good formatting makes information accessible. Poor formatting hides insights in clutter.
- Consistent layout: Same format each meeting builds familiarity
- Visual hierarchy: Headlines, sections, and white space guide reading
- Color coding: Green for favorable, red for unfavorable, yellow for caution
- Charts vs. tables: Use charts for trends, tables for precision
- Page numbers: Essential for discussion reference
- Date stamps: Always show the reporting period
Chart Guidelines
• Title every chart clearly with the metric and time period
• Label axes and include units
• Show comparison lines (budget, prior year) where relevant
• Keep scales consistent across similar charts
• Don't use 3D charts—they distort perception
Using Appendices
Appendices allow you to keep the main package concise while providing detail for board members who want deeper information.
What Goes in Appendices
- Detailed financial schedules: Full chart of accounts, segment detail
- Customer detail: Top customers, pipeline detail, churn analysis
- AR/AP aging: Full aging schedules, collection detail
- Headcount detail: By department, open positions, org chart
- Project detail: Capital project status, initiative timelines
- Competitive intelligence: Market data, competitive analysis
Reference, Don't Present
Appendices are for reference, not presentation. If something in an appendix is important enough to discuss in the meeting, it should be summarized in the main package with a reference to the appendix for detail.
Related Resources
Board Reporting Guide
Complete overview of board communication
Board KPIs
Metrics that matter to directors
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