The problem
Board members nod through the financials because nobody taught them what to look for. Problems surface at year end, when it is too late to fix them. Four numbers and one question catch most of them early.
When to run it
Every month, when the financials arrive, before the board meeting. Block 10 minutes on your calendar for the day they usually land.
The steps
Check cash on hand
Find the total of all bank accounts on the balance sheet. Compare it with last month and with the same month last year. Seasonal swings are normal. A steady slide over three months is not. Ask why before the board meeting, not during it.
Get the rest of Play 007
- 4 more steps
- The mistakes to avoid
- The annual budget workbook template
- The treasurer monthly duties checklist template
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The Weekly Play. Short enough to read before your next board call.