Approve Not required functional plans FINANCIAL PLAN: Develop financial Management forecast Develop annual budget, including Management revenue, expense, capital budgets Develop monthly Management cashflow projection Develop Management financing plan Approve budget, cashflow Board projection, and financing plan Establish limits for spending, material Board contracts and decisions REVIEW: Prepare performance reports on achievement of goals and Management objectives of strategic plan, operating plan and budget: - note variances, Management explain causes,
Approve functional plans Not required FINANCIAL PLAN: Develop financial forecast Management Develop annual budget, including revenue, expense, capital budgets Management Develop monthly cashflow projection Management Develop financing plan Management Approve budget, cashflow projection, and financing plan Board Establish limits for spending, material contracts and decisions Board REVIEW: Prepare performance reports on achievement of goals and objectives of strategic plan, operating plan and budget: Management - note variances, explain causes, Management
Board-Governance-for-Early-Stage-Technology-Companies-complete.docx