I am continuing on with my theme of parenting skills as they apply to governance. I used to have teenagers. Thankfully my kids grew up safely and I am no longer responsible for their activities. When my teenage children left the house they were given this advice. If you have to make a choice between being careful and having fun, please choose to be careful.
I am confident that my advice was not always followed. In fact, I am aware of videos taken while one of my children was standing on a moving vehicle as it plowed into a snow bank. The resulting flight through the air into the snow could not be characterized as being careful!
Board members have the decision to make about being prudent. When a board is dealing with other peoples money there is an easy choice. You are not going to have fun with the money if it means that you can’t be careful.