Board Meeting Preparation: A CFO's Monthly Checklist
The systematic approach to board meeting success.
Key Takeaways
- •Start preparation 2-3 weeks before the meeting, not the week of
- •Coordinate with CEO and other presenters on narrative and key messages
- •Preview significant issues with board chair before the meeting
- •Follow up within 48 hours on all open items and questions
Board meetings are high-stakes events. The CFO's role extends beyond presenting financials—you're responsible for ensuring the board has accurate, timely information to fulfill their oversight role. Good preparation makes the difference between a productive meeting and a frustrating one.
This checklist provides a systematic approach to board meeting preparation, organized by timeline leading up to the meeting.
Two to Three Weeks Before
Preparation starts earlier than most people think. This phase is about ensuring data quality and coordinating across the leadership team.
Week -3 Checklist
The CEO Alignment Meeting
Don't skip the CEO pre-meeting. You and the CEO need to present a consistent narrative. Align on what's going well, what's concerning, and what you want from the board. Disagreement between CEO and CFO in a board meeting erodes confidence.
One Week Before
This is the intensive preparation phase. Financials should be closed and you're building the board package.
Week -1 Checklist
Questions to Answer for Each Variance
- What happened? Factual description of the variance
- Why did it happen? Root cause analysis
- Is it permanent or temporary? One-time or ongoing impact
- What are we doing about it? Action plan if needed
- What does it mean for the full year? Forecast implications
3-5 Days Before: Distribution
Materials should be distributed well before the meeting so board members can review and prepare questions.
Distribution Checklist
No Surprises Rule
If there's significant bad news, call the board chair (and possibly other key members) before they read the materials. Never let a board member learn about a major issue for the first time in a document. The call gives them time to process and come prepared with constructive questions.
Day Before
Final preparation focuses on presentation readiness and logistics.
Day Before Checklist
Questions to Anticipate
- Why did revenue/margin/cash miss (or beat) expectations?
- What's the outlook for the rest of the year?
- What are the biggest risks to hitting the plan?
- How does this compare to industry/competitors?
- What resources do you need that you don't have?
Meeting Day
On the day of the meeting, focus on presence and responsiveness.
Meeting Day Best Practices
On Questions You Can't Answer
It's better to say "I don't have that information but will follow up by tomorrow" than to guess or provide inaccurate information. Board members respect intellectual honesty more than false certainty.
Post-Meeting Follow-Up
What happens after the meeting is as important as the meeting itself.
Within 48 Hours
Continuous Improvement
- What questions came up that we should address proactively next time?
- Were materials distributed early enough?
- Did the meeting run on time? If not, why?
- Was the level of detail appropriate?
- What feedback did board members provide?
Related Resources
Board Reporting Guide
Complete overview of board communication
Board Package Guide
What to include and how to present
Need Help with Board Preparation?
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