This PPT slide, part of the 56-slide Preparing Powerful Board Papers PowerPoint presentation, presents a structured overview of the challenges and decisions regarding the completion of 105 regulatory reports within a specified budget. It begins with a title indicating the critical nature of the decision-making process related to legacy reports, emphasizing the urgency and importance of the task at hand. The initial section outlines the constraints faced, noting that despite thorough budget assessments, the team cannot deliver all reports within the agreed $2 million budget for the fiscal year. This sets a clear context for the subsequent discussions.

The slide then transitions into options for addressing the budget shortfall. Two primary options are laid out for consideration. The first option suggests spending an additional $1.2 million to $2 million over the next 2 years, with specific references to the allocation of funds across different reporting periods. The second option proposes renegotiating the scope of work with the regulator, indicating a potential for flexibility in project timelines and deliverables.

Further down, the slide highlights the need to make 4 key decisions. These include increasing funding, budgeting additional resources for the project, and determining how to engage with the regulator regarding the prioritization of reports. The clarity of the decision-making framework is crucial for stakeholders, as it outlines the strategic choices available and the implications of each.

Overall, this slide serves as a critical tool for guiding discussions among executives about resource allocation and regulatory compliance, providing a clear path forward in a complex situation.

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Corporate Board Scope of Work Compliance