A well-run board meeting requires careful planning and execution. It is essential to begin the meeting by bringing it to order and welcoming participants. The board should also decide on an agenda that is succinct clear, focused and specific. This lets board members focus on their tasks for the duration of the meeting. The ultimate objective of a meeting of the board of directors is to create clear and executable minutes. A board management application like Range allows multiple users to work at the same time and ensures accuracy.
The first order of business is to read and approve the minutes of previous board meetings. The executive director or CEO reports on the organization’s progress and any major changes that have occurred since the previous meeting. The board also discusses the report of the committees as well as the financial position of the company. This includes reviewing and approving financial statements, budgets, and investments. The board then deliberates on any pending or new topics.
It is important to encourage discussions and questions, but getting sidetracked could waste time. It is possible to limit this by creating the concept of a «parking lot» that is agreed upon for off-agenda items. You can review these topics later and decide whether they should be added to the agenda or delegated a task. Always conclude the meeting with an adjournment in a timely manner.