namrehs300 Posted July 2, 2010 at 03:00 PM Report Share Posted July 2, 2010 at 03:00 PM I serve on a non-profit board with monthly board meetings. An agenda item is always "Financials". As Treasurer I submit the financial statements for review by the board. In the past, we have voted to "approve the financial statements". However, I have a couple of board members that say they are not comfortable with "approving" financials. They say that unaudited monthly reports are just that -and if they approve them then they are saying they agree that the financials are correct. Instead, they suggest some other language for the minutes that might say "presented and discussed". Is there some standard language for this? How do I get financials entered into the minutes? Link to comment Share on other sites More sharing options...
hmtcastle Posted July 2, 2010 at 03:40 PM Report Share Posted July 2, 2010 at 03:40 PM Is there some standard language for this? How do I get financials entered into the minutes?No action is required (or appropriate) for unaudited reports. The report is filed but is not included in the minutes. The minutes need only record that the report was presented. See pp. 459-462. Link to comment Share on other sites More sharing options...
namrehs300 Posted July 2, 2010 at 04:10 PM Author Report Share Posted July 2, 2010 at 04:10 PM No action is required (or appropriate) for unaudited reports. The report is filed but is not included in the minutes. The minutes need only record that the report was presented. See pp. 459-462.Thanks - you answered what I meant to ask: how should the minutes reflect the presentation of the financial reports. Link to comment Share on other sites More sharing options...
Kim Goldsworthy Posted July 2, 2010 at 04:48 PM Report Share Posted July 2, 2010 at 04:48 PM In the past, we have voted to "approve the financial statements".This is contrary to "Robert's Rules of Order Newly Revised (RONR Tenth Edition 2000).They say that unaudited monthly reports are just that - and if they approve them then they are saying they agree that the financials are correct.True, per RONR. Link to comment Share on other sites More sharing options...
Josh Martin Posted July 3, 2010 at 01:54 AM Report Share Posted July 3, 2010 at 01:54 AM Thanks - you answered what I meant to ask: how should the minutes reflect the presentation of the financial reports.If the report is for information only, the minutes should simply state "The report of the Treasurer was received and placed on file." (RONR, 10th ed., pg. 455, lines 10-11) No motion is required or appropriate. The board members are correct to be cautious. (RONR, 10th ed., pg. 459, line 30; pg. 491, lines 8-15) Link to comment Share on other sites More sharing options...
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