The SM binder should contain all papery items you want to have with you during rehearsals. It also serves as continuity between SMs and ASMs. The things written in the SM script become the joint memory of all the members of the SM team.
SM binder contents:
-SM Script
-Copy of the stage layout, with measurements
-List of propes and set pieces in each scene
-Actor contact info
-Prod staff contact info
-Scratch paper
-Scene list: What are the scenes, who's in them, what page to they start on. (can also include summaries)
Tips on using the SM binder:
-Start a list of props and set pieces that are in each scene. Keep it updated, and note anything you add or takeaway in the rehearsal report. (This copy will help you remember what you have and haven't told the props and set people about, and will also remind you that you need to tell the props and set people if you don't want something anymore)
-always write in pencil
-note blocking (especially entrances and exits)
-note likely scene changes
-note any changes to the lines
-note any planned light or sound cues (don't forget to inform sound and light people about them)