Minutes of the board meeting are the official document that records the actions and decisions of the board. They are important for many reasons, including governance policy, legal implications and even accountability. They should be simple to understand, accurate and clear.
Keep your minutes as short and clear as you can in order to avoid spending time on long verbiage and keep the focus on important decisions as well as discussions and actions. This is particularly beneficial for boards with very limited resources and strict deadlines.
The structure or format of your minute books can differ depending on your company’s needs, culture, and style, but a few common elements are crucial to consider when taking these minutes. These are the most important points to consider:
Time and date of the meeting: Writing down clearly when the board meeting occurred will make it easier for future readers to understand the events that took place. It’s a good idea also to note the kind (whether regular or special) of meeting.
Content: Examine the the minutes to ensure that it accurately represents what transpired during the meeting. Examine for any errors or omissions and make sure to cross-reference with other documents to ensure that the information is accurate and correct. Also, check that all agreed-upon action items and follow-up actions are documented in the minutes. This includes any actions or follow-ups that were discussed in executive sessions (private or behind closed doors parts of the meeting where sensitive topics such as alleged misconduct and personnel issues or financial issues with auditors are discussed). These discussions should not be recorded in the minutes of board meetings, but in the minutes of the closed session.