Saturday, December 26, 2015
2016 G.A. REMINDERS
How your cooperative conducts its reports to its 2016 General Assembly (G.A.) and how it captures the G.A. Minutes will spell whether the supporting documents that you will file to secure its Certificate of Compliance (COC, formerly Certificate of Good Standing) will be acceptable to the Cooperative Development Authority (CDA).
Most cooperatives conduct their G.A., within 120 days from the end of the fiscal year (December 31, 2015). That means up to April 30, 2016. On the other hand, that is also the deadline for the filing of applications for COC, if I recall correctly.
In this connection, it is relevant to cite Section 7 of CDA Memorandum Circular No. 2015-08, which was approved on September 29, 2015.
To quote: "G.A. minutes shall be prepared in accordance with the order of business, as defined in the By-laws of the cooperative, which contain the following information:
I. Result of election of the Board of Directors and Committee Members;
II. Approval of the Development Plan and/or Annual Plan and Budget;
III. Presentation and Acceptance of Cooperative Annual Progress Report (CAPR), including the Audited Financial Statement; Performance Audit Report; Social Audit Report; and List of Officers' Training Undertaken/Completed, by the General Assembly; (Note that these, which used to be separate reports, are now incorporated as one report, pursuant to recent CDA rules);
IV. Appointment of CDA-accredited External Auditor;
V. Acceptance of the management and committee report, by the General Assembly.
The last time I looked, the order of business for the G.A. in the By-laws of my cooperative, does not yet contain Item III above; nor Items IV and V. Is that also your observation in our own cooperative?
Even CDA Memorandum Circular No. 2011-16 (now superseded/amended by Cir. 2015-08) have only the following, as among the contents of the G.A. Minutes, to wit:
"xxx (d). Minutes of the General Assembly meeting for the current/preceding year, including the results of the election of the Board of Directors and Committee Members; approval of the Development Plan and/or Annual Plan and Budget; and Acceptance of the General Assembly of financial statements, management and committee reports..."
By these, I guess (and I am quite sure), that whether the abovementioned order of business (as contained in Cir. 2015-08) is in your cooperative's By-laws or not, the order of business as contained in Section 7 of Cir. 2015-08 shall now be adopted. Otherwise, the content of the G.A. minutes will not be as what is now required, by the aforecited Circular.
It must be emphasized also, that among the grounds for non-issuance of a COC (under Sec. 8) include: non-submission of required report; and failure to encode CAPR through the web-based CAPRIS and to submit the printed form generated by the system.
I see this as CDA wanting that the required reports are not only submitted, but also that the reports are prepared the way CDA wants it, form and content-wise.
So, there. If you need clarifications/confirmations, it is best to seek out your CDA Extension Office that covers your cooperative. (END).