Five Ways to Bring Life to Financial Reports

By Glen Swanson, CPA

As the financial report is given at your monthly board meetings, what is the atmosphere like? Are all the board members excited and leaning into the conversation? Or are their eyes glazed over as they lean back and think about anything else?

Unfortunately, too many boards fall in the second category – checked out when the organization’s finances are discussed. For any organization to operate at its highest level, it needs effective board oversight. And a common thread running through financial frauds at nonprofits is a lack of effective board oversight. Given the importance of board oversight, every finance director should seek to make their financial reports meaningful and impactful. Here are five tips to assist in doing so:

Hopefully, this has you thinking of at least a couple changes you can implement for your organization. Admittedly, it will take some extra effort to rework your financial reports, and the board may take a little convincing. However, before you know it, you’ll find board members looking forward to hearing about the organization’s finances. Our Non-For-Profit team has significant experience with nonprofit organizations and would be happy to assist you in bringing life to your monthly financial reports.

Glen Swanson, CPA | Assurance Manager