The figures behind the board pack.
Goverisyn produces the record of the figures, definitions, supporting evidence, qualifications and approvals behind portfolio reporting, issued by the client’s Authorized Issuer. The CFO retains control of the final board presentation, including its format, commentary and order.
Below is page 1 of an issued Goverisyn board pack from the demonstration portfolio.
What a governed board reporting package carries
Each one is on page 1 or cited from it.
Four EBITDAs, kept apart
Reported, management-accepted, governed and covenant basis, with each add-back classified against approved criteria.
Evidence and comparability for every measure
Each figure carries its evidence state, and each comparison says which brands compare and why the others are stated apart.
One matters register
Every qualification numbered once and cited by number wherever it applies, on every page.
A basis of preparation
The definitions, approvals and settings the figures rest on, stated the way financial statements state their basis of preparation.
Document control
The issuer and their capacity, the record date, a digest verified against the stored copy, and versions that are never overwritten.
Behind one figure
Open a figure, and its evidence is there.
Every figure in the pack opens to its Measurement Record in Goverisyn: what it is, what it covers, what it rests on and who approved it. This is the record behind governed Adjusted EBITDA for June 2026.
Measurement record · FM-025 version 11 of 6 matters applies
Governed Adjusted EBITDA
$10.66M
Sum of the brands, twelve months to June 2026. After the holding company: $8,118k.
- What it is
- EBITDA plus only the accepted add-backs a named reviewer classified supported nonrecurring under the governing definition (ED-001): evidence establishes the amount and that it does not recur.
- Coverage
- 29 of 30 brands for June; twelve months incomplete (matter 1).
- Add-backs
- $98.0k of $174.0k accepted add-backs (56.3%) classified supported nonrecurring under ED-001 version 1; $76.0k stated apart; 1 exception to resolve.
- Approval
- Definition approved by Jordan Hale (synthetic), Chief Financial Officer, on October 29, 2026. 63 of 63 items behind this figure approved.
- Qualification
- 1. Northern Shield has not submitted its June P&L.
- Evidence
- The reconciliation to each brand’s submitted P&L, and each add-back decision with its support.
The $174k management accepts, classified
Add-backs, sum of brands, twelve months to June 2026 · $ thousands
- 98 Supported nonrecurring. In governed EBITDA.
- 54 Owner compensation, supported with judgment. Accepted, not governed.
- 22 Owner compensation, unsupported. Accepted, not governed.
Management-accepted $10,733k less the $76k stated apart gives governed $10,657k, the $10.66M in the record. The classification is the reviewer’s, against criteria the client approved; Goverisyn records it. Which add-backs hold up
As shown in Goverisyn for June 2026, from the demonstration portfolio. Synthetic data.
When a board member asks
The CFO answers in the meeting, from the record.
The questions a board, lender or buyer asks about a figure are the questions its record already answers. The CFO doesn’t need to promise to come back with it.
- “Why is governed EBITDA $76k below management’s?”
- $76k of owner compensation is accepted by management but not governed: $54k supported with judgment and $22k unsupported, each classified by a named reviewer against criteria the company approved.
- “Does this include every brand?”
- 29 of 30. Northern Shield has not submitted its June P&L, and every figure it affects carries matter 1.
- “Who approved that definition?”
- Jordan Hale (synthetic), Chief Financial Officer, on October 29, 2026; 63 of 63 items behind the figure approved.
- “Can we compare these brands’ close rates?”
- For 9 of 14 roofing brands, yes; the other five are stated apart, each with its reason.
- “Has anything changed since we received it?”
- Nothing in the record has changed since it was issued. The digest is checked each time it is opened, and any change would be a new version.
The position, stated
The page opens with the position in sentences, the way a CFO would state it to the board:
June EBITDA was $1.55M, $62k below plan; the half year is $605k below plan, though April to June was $419k above. After the holding company, governed twelve-month EBITDA is $8,118k, $76k below management’s $8,194k; leverage is 3.48x against a 4.50x maximum, on demonstration inputs. June rests on 29 of 30 brands and a basis approved 102 of 102; 8 of 30 brands’ evidence is Limited.
Each sentence comes from an approved vocabulary and cites the exhibit it summarizes. The superscripts are the matters that qualify it, numbered once and used everywhere in the pack.
Four EBITDAs, one set of books
For the borrower group over twelve months: $8,020k reported, $8,194k management-accepted, $8,118k governed and $8,186k on the covenant basis. Each is correct on its own definition. The pack keeps them apart and states each on its own basis, rather than presenting one adjusted figure without saying which.
The covenant line states leverage against its maximum and how far EBITDA could fall before leverage reaches that maximum. It ends “No compliance is declared”: that is the lender’s determination, not Goverisyn’s. How the credit agreement’s definition changes the figure, line by line, is in Covenant EBITDA vs adjusted EBITDA.
For the board, and the dates
Decisions the board is asked to make, open items with an owner or a date, and what changed since last month sit beside the dates that follow from the client’s own policies: the covenant certificate, the next submissions, the next test.
Document control
Who issued the pack, when, and in what capacity. The record date every submission is judged at. Where the figures come from, and that management commentary is not verified by Goverisyn. How many items of the basis are approved. The digest of the issued record, verified against the stored copy each time it is opened. The version it supersedes.
What issuing means
Issuing is the client’s act, by its designated Authorized Issuer. Goverisyn computes the figures from the governed models; the issuer decides when they go to the board.
An issued pack is fixed. A change after issue is a new version, and every earlier version stays on record with its own digest. The pack is not audited or certified by Goverisyn.
Version 7 replaced version 6 for a new layout. Its record of issue states that no figures, bases, approvals or matters changed, and that nothing in its record has changed since it was issued.
The twenty pages
Six sections: scale; economic position; what deserves attention; what could change this picture; measurement coverage; basis of preparation. Nine appendices: brands by name; against plan by brand; cash; cash and backlog roll-forward; unit economics; management commentary; submission exceptions; comparison by measure and trade; measures and the record of issue.
The full pack is walked through in a Portfolio Review, on the demonstration portfolio.
Demonstration portfolio. All brand names, people and figures are synthetic.