Annual General Meeting (AGM) Requirements

An Annual General Meeting of a BIA is a meeting of its members which takes place once a year to address the legal and procedural requirements of the corporation and addresses the budget for the following calendar year. In addition to following the proper procedures of running a meeting, there are other specific requirements necessary for the AGM that include:

  1. Quorum of the board is the minimum requirement to call the Annual General Meeting to order regardless of the number of general members in attendance
  2. Reports from the directors on the proposed program of activities and budget for the coming year are required
  3. A report from the auditor including financial statements is required
  4. Nomination of board members is required every four years in conjunction with municipal elections
  5. A BIA’s annual budget, as approved by its general membership, must be submitted to the City’s BIA Office before final Council approval. The BIA board of management must consider Council and the Economic Development & Culture Division committee meeting schedules when scheduling its AGM. Council meeting dates are set annually. The City BIA Office will provide each BIA with the annual schedule including critical dates to assist you with your AGM planning. For further information contact the City’s BIA Office at 416-392-1291 or biaoffice@toronto.ca.

Sample: AGM notice

Sample: Board Meeting Agenda

A light version of the Robert’s Rules of Order

Robert’s Rules of Order Newly Revised, 11th edition, by Henry M. III Robert, Daniel H. Honemann, Thomas J. Balch, published by Da Capo Press, September 2011, is the basic handbook of operation for most clubs and organizations. The following information is sourced from the book.