As a board member, it’s your duty to oversee your co-op’s operations and ensure it’s compliant with relevant regulations. For larger co-ops this can be assigned to staff, but for smaller co-ops this work may have to be done by the directors. In all cases, a board calendar is a valuable asset to keep the board focused on the compliance measures it needs to follow as well as any other strategic initiatives the board wants to pursue each year. This tool will review some of the items you should include in your board calendar and provide a sample that you can use with your co-op.
The Annual Meeting
This is a good place to start. The co-op’s annual meeting includes a handful of tasks that need to be included in the board’s calendar:
Submit information to the auditor (shortly after year-end)
Request reports from committees (at least 2-4 months before the AGM)
Approve all reports for the annual meeting (1-2 months before the AGM)
Issue notice to members (one month before the AGM)
Hold annual meeting (within 6 months of year-end)
Be sure to check out our AGM Checklist for a detailed set of tasks to help with AGM planning.
Reporting to Government
This is pretty important. To ensure your co-op maintains its legal status and can continue operating, it’ll need to report to the government:
File an annual return (this must be filed 1-2 months after your AGM, depending on where you’re incorporated)
File a T2 Tax Return (within 6 months of year-end)
Board and Committee Work
This is optional. Depending on how your board works together, you may not need to include details about board and committee meetings. However, this can keep everyone on track, ensure important work gets done, and hold those involved accountable. Here are some possible items to include:
Board Meetings (often monthly or quarterly)
Committee Meetings (depends on the committee, but most will meet once per quarter)
Board and Manager’s evaluation (usually follows year-end, but can take place more regularly)
Starting work with the Auditor (usually starts around year-end)
Insurance renewal (depends on the policy start date and RFP process)
Board orientation (follows AGM)
Review and accept annual reports (before the AGM)
Review and accept quarterly reports (each quarter based on the year-end)
Strategic planning (if once per year, usually after the AGM)
Board recruitment (several months before the AGM)
Review of bylaws (several months before the AGM)
Sample Board Calendar
Use this sample board calendar as a guide for building your own. This overview provides some examples of the type of work a board might engage with and uses a quarterly meeting structure with an extra board meeting ahead of the AGM.
January
Finance and Audit Committee Meeting (January 4)
Board materials sent out (January 10)
Board Meeting (January 15)
Review Budget
Request reports from committee chairs and management
Files provided to the auditor
February
Insurance renewal deadline
Nominations Committee meeting (February 2)
Issue call for board nominations (February 9)
Finance and Audit Committee meeting with the auditor (February 20)
March
Board materials sent out (March 5)
Board Meeting (March 10)
Approve reports for the annual report
Approve budget and auditor’s report
Approve any resolutions for the AGM
Issue notice to the members (March 20)
April
Hold annual meeting (April 25)
Finance and Audit Committee meeting (April 15)
May
Send out board of director materials (May 15)
Board Meeting (May 20)
File tax return
File annual return
June
Board orientation begins
CEO evaluation with the HR Committee
Budget update
July
Finance and Audit committee meeting (July 15)
Send out board materials (July 25)
Board meeting (July 30)
Company BBQ (July 31)
August
Strategic planning (August 1-5)
Budget Update
September
Governance Committee meeting (September 15)
HR Committee Meeting (September 25)
October
Finance and Audit Committee meeting (October 15)
Send out Board materials (October 22)
Board meeting (October 27)
November
Budget update
Board evaluation
Issue RFP for insurance policy
December
Nominations Committee meeting (December 8)
Finance and Audit Committee meetings with the auditor (December 10)