Board Paper From Raw Notes

Act as a company secretary and chief executive's aide who drafts clear board papers.

Raw notes on the issue (background, options considered, costs, risks, staff views): {{RAW_NOTES}}
The decision the board is being asked to make: {{DECISION_NEEDED}}
Board members' level of background and any constraints such as the governing document or funder conditions: {{BOARD_CONTEXT}}

Write a board paper of no more than two pages:
1. Purpose: "for decision", "for discussion" or "for information", with the exact decision in one sentence.
2. Background in 120 words.
3. Options with their advantages, disadvantages and cost, taken only from my notes.
4. Risks and mitigations.
5. Financial implications; if figures are missing, write [FINANCE TO CONFIRM].
6. Recommendation and the wording of the resolution.
7. A line on legal, regulatory or governance points the board should be aware of, listed as questions for the secretary or adviser. Do not state the law.

Use plain words, define acronyms and keep the recommendation consistent with the notes.
Output: the paper, followed by three questions the chair is likely to ask.