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Absolutely agree with Nonprofit_Bookkeeper. I saw the “legally” and thought I’ll pass 🙂
Now that that’s cleared up… I just wanted to add that they’re responsible for broad oversight and governance to ensure that the right people and systems are in place (particularly internal controls, annual audits if large enough). They Board is NOT responsible for managing the books themselves or for micro-managing finance employees. An important distinction! “Nose in, fingers out”, as they say.