Why being a Company Member and attending our Annual General Meeting is important (Reminder 2)Post in The Garve & District Development Company by Tina Hartley
What do we need to keep the Development Company up and running?
New Company Members
At the moment, around a third of the community are registered as members which means we still have a lot of residents out there that could join and make their views known about community development. We are a member-led company, the more members we have the louder your voice is!
New Board Members
The Company can have up to 8 voluntary Board members. At the moment, we have just 4 which is the exact amount we need to allow the Company to continue - our "quorum". If, for some reason, we lose a Board member the Company is unable to legally make decisions - community development, community grants, free activities all stop!
Why, as a Company Member, is it important for you to attend our Annual General Meeting (AGM)
What is an AGM?
An AGM is a formal gathering of the Development Company’s members, Board members, and staff. AGMs serve a vital function by providing an opportunity for you, our members, to discuss the Company’s performance, review financial statements, make key decisions and ask any questions you might have. AGMs are not only essential for maintaining transparency and accountability, but they are also mandated by law. AGMs play a crucial role in ensuring that the Company remains well-governed, financially responsible, and focused on the community’s priorities.
What is the purpose of an Annual General Meeting?
It allows members, Board members and staff to come together and discuss essential aspects of the Company. Key objectives of an AGM include: -
Reviewing the Company’s Performance
The AGM serves as an opportunity to present the Company’s financial statements, annual reports, and other relevant documents, allowing members to assess our overall health and consider the progress we have made during June 22 to May 23.
Electing or Re-electing Board Members
It is the time when our members appoint, or reappoint, Board members, ensuring the Company’s governance structure remains effective and in line with our members’ interests.
Making Key Decisions
AGMs provide the opportunity to discuss and make decisions on matters that may impact on the Company moving forward, matters that are important to you, our members.
Our AGM provides an opportunity for you, our members, to engage with the Board and staff to ask questions and express your opinions or concerns.
Maintaining Transparency and Accountability
AGMs provide a dedicated place and time for open dialogue and the presentation of essential Company information therefore fostering transparency and accountability within the Company.