Tips for Planning an Annual General Meeting

We are heading into the season when many organizations plan and host their annual general meetings. At the heart of every successful organization is a well-run annual general meeting. It serves as a point of contact with members, an opportunity to plan for the future and connect the internal team with those future plans. But it can be difficult to know what steps to take to plan a successful annual general meeting.

Is a new director joining your board? Find a great off-site venue to bring everyone together and celebrate your year. Are you leading an annual general meeting for the first time? Or do you want to improve your current strategies with your annual meeting? Whatever your reasons, read on to learn more about how to plan a successful annual general meeting.

See also: How to Organize an Annual General Meeting for Employees

Convening the Meeting/Event

The board of directors of a company is responsible for calling the annual meeting. The board must call the annual general meeting within six months of the end of the financial year. Notice of the annual general meeting must be sent to all shareholders. You must send them at least 21 days’ notice of your annual general meeting so that they can prepare for and attend. This can be done through a notice in newspapers or online via email or website updates.

Prepare the agenda

The agenda should be prepared 2-3 months before the meeting. Make sure that the agenda is short and to the point. It should be easy to understand and contain the main topics discussed during the meeting. In addition, it should contain important topics that require discussion and/or voting by all members of the company.

Prepare the financial statements

Financial statements provide an accurate picture of the business entity’s performance and financial condition. They are usually prepared as a balance sheet, profit and loss account, and cash flow statement. All financial statements should be prepared and ready for the meeting as they are an integral part of the agenda. Usually, these are audited financial statements.

Assign roles and responsibilities

To make the Annual General Meeting successful, you should ensure that roles are delegated to team members. They should be readily available at the meeting venue to make the process run smoothly without any distractions. Explain the roles clearly to your team and involve them during planning sessions.

Arrange the Meeting

Sometimes, the venue sets the stage for the key messages you want to deliver at your AGM. Choose a venue that is accessible to all those who will be attending the meeting and provide suitable seating arrangements. Ensure that the venue has facilities to hold a screen for presentations and all other technical aspects. You should visit the venue before booking it to ensure that the venue has everything you need for the meeting.

At Alwofod, we offer a meeting room booking service to suit your needs and with a wide range of benefits, so do not hesitate to contact us.

An Annual General Meeting is a great way to keep shareholders informed about the company’s activities and progress. It also allows them to voice their concerns in a formal setting. Running an AGM can be daunting, but we hope this guide will help you understand all the steps involved so you can look forward to it!

Adjourn the Meeting

Boards are also encouraged to prepare a full AGM transcript. The transcript will help keep the meeting on track, assist the Chair in setting the right tone and structure for the meeting and ensure that all appropriate meeting protocols are covered.

Directors’ reports

As part of the annual general meeting, it is customary for different board members to report on different aspects of the organization. Larger boards may have a report from the committee chair on the work of a particular committee, such as finance; however, even on smaller boards, it is a good idea to give each board member the opportunity to make a presentation on some area.

Chairman/Board Chairman’s Report

The chairman, or chair of the board, usually starts the annual general meeting with an overview of the past year. This is usually a good opportunity to highlight achievements and provide an insight into the year ahead. It may also be a good time to inform members of any major changes – good or bad – that may affect the organisation. If the chairman needs to share some new challenges, it is also a good idea to include future plans for the organisation. The chairman may also wish to comment on the working relationship between the board members.

It is also customary for the chairman/chair of the board to speak on behalf of all committees and conclude the comments with an overview. Committees are usually given the opportunity to report in the annual report, which members can read. Don’t waste your AGM time reading the reports included in the annual report.

Financial Report/Auditor’s Report

Every non-profit corporation must present financial information to its members at the annual general meeting. Most organizations have an independent auditor examine their finances once a year, and the auditor’s report is presented to members as evidence that the organization is using generally accepted accounting principles. The audit is designed so that the accountant can tell the organization whether the financial statements fairly represent the results of the organization’s operations and cash flows. The auditor will provide reasonable assurance that there are no significant problems with the organization’s books, or identify any irregular accounting practices and bring them to the attention of members.

As part of the financial report, the audit committee/treasurer will often share the balance sheet (which shows the organization’s assets and liabilities for no more than four months prior to the meeting); the income and expense statement (which provides a general statement of revenues and expenses for the fiscal year ending closest to the balance sheet date); and the auditor’s report; and transparent financial statements.

CEO Report

While the board meeting is primarily the responsibility of the board, the board may want the CEO to provide an update on the organization’s operations. This is an opportunity to build rapport between staff and members. The CEO report may include:

• Human Resources changes, challenges, or successes
• Partnerships developed and maintained by staff members
• Program changes or developments
• The CEO should commit to operations, making clear that the work is to meet the strategic direction of the board.

Special Resolutions or Bylaw Changes

Changes to the organization’s constitution or bylaws are often presented to an annual general meeting and voted on by the membership. At this point, members have the authority to accept or reject changes proposed by the board, but they cannot amend what the board has proposed. In many cases, changes to the constitution must be approved by a 2/3 majority at the general meeting.

Board Nominations and Elections

The election of board members is an important democratic process for a nonprofit organization. This process begins with a nomination process that is often coordinated by the board’s nominations committee. In the case of small boards, this may be the responsibility of the chairman/president. Prior to the AGM and election, the vacancies and the names of the candidates should be presented to the members. To begin the election process at the AGM, the chairman must first identify the positions to be filled and present the candidates to the members present.

Some organisations provide background information about each candidate in the AGM packet and even allow each candidate to make a presentation on why they are a good candidate for the board. Members nominated by default must submit a written statement on their behalf to the meeting.