The weekly conduct report allows the teacher to rate the student's behavior, add comments, and get confirmation that the parent has seen it.
I print all the weeks and put them into the students' take home work folder. These go home on Fridays for the parents to see graded work and how their student is behaving. These folders return to me on Monday.
I also tie incentives in to the total "points" that you can receive on the weekly conduct sheet.
Hope this helps!