you are correct it is also stored as a php file
FYI
In that folder you will also find your headers footers as well as board rules and community intro.
And more important your config file.
config.inc.php
For people that do not like to backup ,this folder is a must to be able to restore files from as well as the styles folder and avatars and attachments.
The rest can be the stock files from the member section..
But you still need a database backup
