Monthly Financial Review Agenda
Run effective monthly finance meetings that drive action, accountability, and better decisions.
Key Takeaways
- •Structured agenda keeps meetings focused and productive (60-90 minutes)
- •Cover performance vs. plan, cash position, and forward-looking items
- •Every meeting should end with clear action items and owners
- •Consistency in meeting rhythm matters more than perfection
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Why Monthly Financial Reviews Matter
A regular monthly review creates accountability, surfaces problems early, and ensures leadership stays connected to financial reality.
Performance Tracking
Compare actual results to budget and prior year. Celebrate wins and address misses before they compound.
Early Warning
Catch trends and issues while there's still time to act. Monthly cadence prevents surprises from snowballing.
Accountability
Department heads explain their numbers. Public review creates natural accountability without micromanagement.
Decision Making
Regular forum for financial decisions keeps the business moving. No waiting for quarterly meetings.
Recommended Agenda Structure
This 75-minute agenda covers the essentials while leaving room for discussion:
Opening & Headlines
Quick pulse check. How did we do overall? Any critical issues to address first? Set the tone for the meeting.
Financial Performance Review
Revenue, gross margin, operating expenses, and bottom line. Actual vs. budget and prior year. Focus on significant variances—what happened and why.
Cash & Liquidity
Current cash position, change from last month, 13-week forecast outlook. AR/AP status. Any concerns or opportunities related to cash.
Operational Metrics & KPIs
Key leading indicators: pipeline, customer metrics, operational efficiency. What's driving (or threatening) financial results.
Forward Look & Forecast
Outlook for rest of quarter/year. Any forecast changes needed? Upcoming investments or decisions. Known risks and opportunities.
Decision Items & Asks
Items requiring leadership decision. Budget adjustments, investment approvals, policy changes. Come prepared with recommendation.
Action Items & Close
Recap decisions made and actions committed. Clear owners and due dates for every action item. Confirm next meeting date.
Pre-Meeting Preparation
A great meeting requires preparation. Here's what should be ready before the meeting:
CFO/Finance Owner Prepares
- Monthly financial statements (closed)
- Budget vs. actual comparison
- Cash position and forecast
- KPI dashboard updated
- Variance explanations for significant items
- Decision items with recommendations
Department Heads Prepare
- Explanation of their variances
- Operational metrics for their area
- Upcoming spending or needs
- Issues requiring leadership input
Pre-Read Distribution
Send the financial package 24-48 hours before the meeting. This lets attendees review data and come with thoughtful questions rather than processing numbers in real-time. The meeting becomes discussion, not presentation.
Meeting Best Practices
Focus on Exceptions
Don't review every line item. Focus on significant variances (typically >10% or >$X threshold). If something is on plan, note it briefly and move on.
Ask "So What?"
For every variance or data point, ask what it means and what we should do about it. Numbers without insight or action are just data dumps.
Protect Forward-Looking Time
Don't let backward-looking review consume the entire meeting. The past is done—spend meaningful time on what's ahead and what decisions need to be made.
End with Clear Actions
Every meeting should produce action items with owners and due dates. Review last month's actions at the start; add new ones at the end. Track completion.
Common Mistakes to Avoid
Don't Do This
- Review every line item in detail
- Present data without insight
- Skip the meeting when "busy"
- Let one topic consume all time
- End without clear action items
- Make it a CFO monologue
Do This Instead
- Focus on material variances only
- Always answer "so what?"
- Maintain consistent monthly rhythm
- Use parking lot for deep dives
- Assign owners to every action
- Encourage discussion and questions
Frequently Asked Questions
How long should a monthly financial review take?
60-90 minutes is typical for most businesses. If you're routinely going over 90 minutes, either the meeting is unfocused or there are issues requiring separate deep-dive sessions. The goal is regular rhythm, not exhaustive coverage of every detail.
Who should attend the monthly financial review?
Core attendees: CEO/owner, CFO (or fractional CFO), and department heads who manage significant budgets. Optional: controller, FP&A analyst. Keep it small enough for discussion but inclusive enough that decisions can be made without follow-up approvals.
When should we hold the monthly review?
Schedule it for a consistent day each month—typically within 10-15 days after month-end (after books are closed but while the month is still fresh). Many businesses use the 15th or third week of the month. Consistency matters more than the specific date.
What if we don't have much to discuss?
Good! That usually means the business is on track and running smoothly. Use the time for forward-looking planning instead of backward-looking review. But don't cancel the meeting—the discipline of regular review catches problems before they become crises.
Related Resources
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13-Week Cash Flow Template
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Finance Maturity Assessment
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