Minutes of the board meeting are the official document that records the decisions and actions of the board. They are crucial for a variety of reasons, including governance policy, legal implications, and even accountability. They must be easy to understand, accurate and clear.
Make your minutes as concise and concise as you can to avoid spending time on long sentences and to keep the focus on the most important decisions discussion, actions, and discussions. This is particularly helpful for boards that have limited resources and deadlines.
The format or the structure of your minutes will vary according to your company’s culture and needs as well as the style. However, there are a few essential elements you need to consider. These important elements include:
The date and time of the meeting: Recording clearly when the board meeting took place will help future readers to comprehend the event. It’s also a good idea to note the nature (whether regular or special) of meeting.
Content: Go over the minutes to ensure it accurately reflects what transpired during the meeting. Check for errors or omissions, and be sure to cross-reference with other documents to ensure the information is complete and accurate. Also, ensure whether all actions agreed upon and follow-up tasks are recorded in the minutes. This includes any actions or follow-up tasks that were discussed during executive sessions (private or in-camera portions of the meeting that deal with sensitive subjects like alleged misconduct, personnel issues or financial concerns with the auditor). These conversations should not be included in the minutes of board meetings but should be recorded in the minutes of the closed session.