What is the purpose of a management report?

• A. Record resident attendance at meetings
• B. Update the board on management activities and accomplishments
• C. Replace the annual budget
• D. Audit the financial statements

Answer: (B)

The main idea is to provide the board with a clear update on how management is performing, what has been accomplished, and what is planned next. A management report translates daily operations into a concise status view so the board can oversee activities, track progress, and make informed governance decisions. It often highlights completed tasks, ongoing projects, key metrics, and any issues or risks that may require board input or approval. This makes it different from recording attendance at meetings (that’s handled by meeting records), replacing the annual budget (the budget remains the plan and a separate document), or auditing financial statements (that’s the job of auditors).