I love this board in our cubby area. (Sorry about the lighting-its under our stairs)
Instead of a "white" board I found an old window paine at a antique store (for $20.00) and painted it and then I get to use the dry erase markers to write notes or important dates for each of the kids. I labeled their name in each section with vinyl.
Underneath it I cut a piece of molding to match the length of the window, put hooks on it and then hung clipboards for all the "school papers". It has worked great. If they ever do lose something I just ask "did you put it on your clipboard?"
And to decorate the clipboards I let them paint them how ever they wanted. It was a great craft project time.
The great thing about this idea is it would be really cute in an office.