What Is a Board of Directors Meeting Minutes?
Note that board meeting minutes are very important. These are documents whenever meeting happened between the board of director and the organization that holds the record of what had happened during the previous meeting. Minutes are considered legal materials by the auditors, IRS and courts, and they interpret the actions of the board. Many affirm that if it's not in the minutes, it didn't happen. Many studies show that meeting minutes remind the board of directors of pending agendas that were not exhaustively dealt with during the last meeting due to interruptions, more urgent agendas, time constraints, or unavailability of key information or reports.
How To Make a Board of Directors Meeting Minutes
Board minutes serve as the legal record for board of directors meetings. Taking monthly or annual meeting minutes with the board is very important to show shareholders how the board decides key issues. The recording secretary of the company is going to write the minutes. The secretary should record conversations as objectively and precisely as possible, avoiding adverse comments or private comments. According to rubiconlaw.com, common mistakes of writing minutes include failure to document a quorum, ambiguous description of board actions, and including information that could harm the board in a legal sense. One way to change your outlook and make your organization more productive, efficient, and credible is to start learning to write a board of directors meeting minutes. Here's how!
1. Organize Your Agenda
First things first, decide to think of an agenda. Outline the items of your agenda and note how much time would be allocated for each item. This will assist you to gain some insight into what problems will be covered and help you organize a note-taking outline. It will allow you to be a better listener and note-taker at the same time. You can also indicate the agenda if you're sending out meeting invitation cards.
2. Write While You Still Remember
In studies related to adult learning and memory, people start developing memory problems as they move towards their 40's and 50's. To prevent missing out on details, immediately write down those things that were tackled during the meeting. Do not forget all the essential details being raised by some of the participants. You can also ask other participants in that meeting to tell you what are other things you've forgotten to jot down.
3. Record the Attendance of Participants
Just like attendance sheets, record every participant's names along with their designations as they arrive. Do not forget also to take note of who is not around.
4. Write Down Important Information
Start by noting down the specific location where the meeting happened. Also, take note of the event schedule including the month, day and year. Most importantly, point out the accurate hour and minute in which the meeting has started and adjourned. Try to capture the decisions being made as well as the assignments and action items. You can use a free template for you to edit hassle-free.
5. Proofread For Clarity
Right after the meeting, try to review and recheck all the notes you have written. Use your notes to write your minutes in a readable form. Be objective with your tone and keep the minutes simple and comprehensive including all the information. Summarize any relevant points of remark, but avoid anything private or offensive. Purpose to produce a legal document that can serve as your meeting record.