An annual general meeting (AGM) is held once a year in accordance with an organisation’s rules. During this meeting, you’ll need to discuss finances, board elections, and other matters that affect the entire organisation.
Here are the steps you need to follow:
Before the AGM:
1. First you need to agree a date for the AGM with the directors of the company.
2. Pick the venue, ideally near the where the OMC is
3. You need to give all members 21 working days notice before the AGM date.
You will be sending out per post or email the agenda, the minutes from last years AGM, the audit reports from the previous financial year and a proxy form so that if a member is unable to attend the AGM they can nominate someone to go in their place. A proxy nominee does not have to be a member of that OMC.
Preparing the Agenda
– List the topics you wish to discuss on the night
A sample agenda:
• Welcoming the members to the AGM and introductions
• Approval of last year minutes
• Approval of the last audit financial statement done
• Election of directors – each nominee needs to be approved by two members of the OMC
• Any other business – general matters like maintenance work, etc.
At the AGM
1. Before the meeting starts ask all members present to sign in. Ideally you want their full name and contact details. Then you would Welcome all present.
2. At the AGM a member of staff from the management company will need to Take Minutes to document all matters that come up during the meeting.
3. You will start the AGM off by Approving The Minutes from last years AGM and getting approval for them from the members present.
4. Then move on to Approval The Audit Financial Reports. All member present need to approve the audit reports.
5. Election of Directors – each OMC needs at least two directors that is the minimum allowed.
It is important to document the election of directors and who first & second their nomination.
6. Any Other Business – the final part of the AGM. This is a time for attendees to bring up issues and concerns not otherwise covered
7. Close the meeting. When everything has been covered, declare the AGM closed.
Join 500+ happy house sellers who have greatly benefited from expert and experience-rich insider tips accumulated over 16 years in the residential property market by Phil Thompson, our Sales Director. Talk to Phil by filling form.
"*" indicates required fields