Are you walking into board meetings feeling uneasy about the finances—not because something looks obviously wrong, but because you’re not getting the information you need to govern well?

After more than three decades working with nonprofits—as a CPA, in nonprofit CFO leadership, and now leading a team of Fractional Nonprofit CFOs—I can tell you this with confidence:

If you’re not receiving timely, usable financial reports at board meetings, you’re not alone. But it does matter.

If you missed last week’s post on the two financial reports every nonprofit board should receive at every single meeting, I strongly recommend starting there. That foundation matters. But if you’re not consistently receiving one or both of those reports—or if the financial information you’re getting feels late, incomplete, or difficult to interpret—here’s what to do next.

First, Let's Normalize the Problem

I’ve sat in many boardrooms where everyone felt uneasy about the finances, but no one quite knew how to say it out loud.

Board members don’t want to look unqualified.
Staff don’t want to feel like they’re failing.
So the issue quietly persists.

But not receiving timely financial reports isn’t a people problem.
It’s a systems problem.

And systems can be fixed.

Start the Conversation—with Curiosity, Not Accusation

The first step is simply to start the conversation.

Ask questions like:

• What’s preventing us from seeing these reports on a monthly basis?
• How long after month-end are reports typically finalized?
• What does our month-end close process actually look like today?

These questions don’t assign blame.
They create clarity.

And clarity is where progress begins.

Re-Establish Expectations

Receiving timely financial reports is not optional.

Boards are responsible for financial oversight—and oversight requires consistent, comparable information. It is entirely appropriate (and healthy) for a board to say:

“We need this information in order to fulfill our fiduciary responsibility.”

When expectations are unclear, reporting often becomes reactive. When expectations are clearly stated, systems can be built to support them.

Look at the Systems—Not Just the Effort

Many reporting delays have nothing to do with how hard people are working.

They have everything to do with systems.

Ask questions like:

• Are financial reports system-generated, or manually rebuilt each month?
• Is there a documented month-end close process?
• Are there clear deadlines—or is everyone simply doing the best they can?

Without structure, even excellent teams struggle to produce timely, reliable reports.

Identify the Real Gap

This is where many nonprofits get stuck.

Bookkeeping records transactions.
But whose oversight turns that data into clear, actionable financial reports?

If no one owns the close, the review, and the explanation of the numbers, reporting will always feel late and stressful.

That doesn’t always mean hiring a full-time role immediately—but it does mean the gap needs to be acknowledged and addressed intentionally.

Practical Next Steps

If delayed reporting is the core issue you’re facing, I recommend watching our YouTube playlist How to Speed Up Your Month-End Close. It walks through why reports get stuck, how to shorten the close timeline, and which practical changes actually move the needle.

And if what you’re realizing is that your organization needs more than cleanup—it needs oversight, structure, and forward-focused financial leadership—that’s exactly where our team of Fractional Nonprofit CFOs can help.

Our role isn’t just to look backward at the numbers. We help boards and executive leaders create financial visibility, establish accountability, and make confident, strategic decisions looking ahead.

If you’d like to start that conversation, you can visit thrivenonprofit.com/you.

Timely financial reports aren’t about perfection.
They’re about clarity.

And clarity is what allows boards to steward resources well—and lead with confidence.