Tuesday, September 30, 2014

25% OF NCR CO-OPS W/O YEAR-END REPORTS





Yes, one out of four cooperatives in the National Capital Region did not submit their year-end reports to the Cooperative Development Authority (CDA) for their 2013 operations.

This is according to CDA Dir. Noni Hernandez of the Manila Extension Office, in her report on the state/status of cooperatives in her area of jurisdiction. 

She delivered the report during the 1st Metro Manila Cooperative Congress, held last September 26, 2014 at One Esplanade, MOA Complex, Pasay City.


She cited that in 2013, there were 2,380 registered cooperatives in NCR.  Of this number, 195 are for dissolution; 253 are with show-cause orders (asking them to explain their violations and why their cooperatives should not be delisted); and only 1,632 are operating cooperatives.


Of these operating cooperatives, 432 failed to submit the mandatory year-end reports covering their 2013 operations, Dir. Hernandez added.


She also reported that cooperatives in the NCR have a combined asset base of P64-billion; and a volume of business of P62-billion in 2013.

Quezon City has the most number of cooperatives, while Taguig cooperatives have the biggest combined assets.

According to her, the common violations of cooperatives in Metro Manila are topped by non-compliance with CDA Memorandum Circulars, such as having no required registry of members; no required signage; and their cooperatives' budgets and development plans were not presented to/approved by their respective General Assemblies.


Other violations include the non-holding of annual elections; the copy of the audited financial statement was not presented to the General Assembly (GA); the GA was held not according to the date prescribed in the By-laws; the order of business of the GA did not follow that prescribed in the By-laws; and failure to secure surety bonds for their accountable officers, etc. (END).

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