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Minutes of the 18th General Assembly February 22, 2014 P.

Gomez Elementary School

Call to Order There being a quorum of _______ regular members and _______ associate members present, Chairperson, Socorro S. Mercader called the General Assembly to order at 1:10 P.M.

Roll Call Upon motion of Mr. James Mahaguay, duly seconded by Mrs. Celia Tadiarca, and there having no objection, the roll call was dispensed with.

Proof of Due Notice The Coop. Secretary Rosalinda Balanquit manifested that all members were duly notified of the 18th General Assembly meeting to be held on Saturday February 22, 2014 at PGES Social Hall.

Declaration of Quorum Dir. Leony Ordilla made the declaration that there is a quorum per attendance. Hence the chair person, Mrs. Socorro S. Mercader considered the presence of quorum for the 18th General Assembly.

Approval of the Minutes of the 17th General Assembly Gigzelle Manay read the minutes. Upon motion of Ms. Josefina A. David, duly seconded by Mrs. Divina Cortez, the minutes were approved as read.

Chairpersons Report The chairperson of the Board Socorro S. Mercader, emphasized that this years theme, Kooperatiba: Sandigan sa Anumang Krisis ng Buhay is a living testament of how Gomezians can cope with any adversities on life with the help from the cooperative. The Interest on Share Capital and Patronage Refunds this year is 2 731 700.31 as compared to last year which was 2 184 559.67. This happened through the continuity of our best practices and good governance. For the canteen and cafeteria services we took care of the total wellness of our children by providing them with more nutritious cooked food and affordable rice meals. In the latter part of the year, the Kindergarten teachers patronized the services of the canteen for the snacks of their children. Also, the Earn while you Learn program buy the Home Economics teachers

was given full patronage thus providing the venue for the laboratory skills of Home Economics pupils. The ATM Tubos Sanla is one of the core thrusts of the Credit Program. This allowed our members to pay their loans from persons charging interest rate as high as 10% as compared to 2% interest rate in the cooperative. There was also an increase in our savings deposits thru our Save and Earn the Cooperative Way. She expressed her gratitude to all cooperators and also reiterated that Coop is one LEGACY she is entrusting to all of us. The best option is not to rest on our laurels but to sustain the LEGACY and aim for the SEAL OF EXCELLENCE next year!

Reading of the Board Resolutions Vice Chairperson Dir. Myrna Anduque read the Board Resolutions to the body for dissemination and approval. Mrs. Feliciana Lerio made a clarification on Board Resolution No. 4, s. 2014 regarding the amount of incentive to be given to the treasurer; Araceli Arguelles to defray the expenses in encashing the ATM. Chairperson Socorro S. Mercader also reiterated the need to grant the increase. The assembly approved the amount of one thousand pesos (1000) a month. Board Resolution No. 15, s. 2013 appointing Ms. Feliciana Lerio as accountable officer to prepare and submit the Cooperative Annual Performance Report Questionnaire and Performance Audit Report to the CDA was also approved. However, the assembly upon deliberation suggested that other volunteer members can also assist to lessen her work as a support to Board Resolution No. 23 detailing the succession plan. Volunteer members will also be encouraged to render service to the cooperative with regards to financial and non-financial matters. This is due to the increase in membership, thus also increasing the services and records in the different areas. All other resolutions were approved as read as motioned by Mrs. Villarazo and duly seconded by Mrs. T. Ventura.

Management and Supervisory Report Marivic B. Sabejon, Coop. Auditor, proudly told the members that this year we have 2 731 701.35 dividend to be shared among members. There was an increase of 549 140.66 as compared to last years 2 184 559.67. This is because of the tremendous size of our paid up capital from 6 779 142.52 to 10 248 174.57. We were able to maximize the value of members money and resources, to improve our services. She also said that the different business operations were properly managed and handled. A target increase of 2% to 5% next year was also mentioned. As a result, we are hoping that all members will cooperate for the success/progress of our cooperative so that we can help improve the quality of life of our members.

Audit Committee Report The Audit Committee Chairperson Jony V. Nardo read the report on its Code of Ethics, Roles and Responsibilities. There were no questions raised.

Credit Committee Report Mrs. Arlene T. Villarazo, the committee chairperson, read this years report telling that our cooperative becomes stronger every year. She also emphasized the words Kung nakautang, wag kalimutang magbayad. According to her, members are fully aware of their responsibilities, thus most are Members in Good Standing.

Education and Training Committee Report Committee Chairperson Abcedie Amistad enumerated the different trainings attended by the BODs and other old/new officers. She also recommended that attendees are required to conduct echo-seminars to be scheduled every last Friday of the month. She also explained that anyone from committee members who are aspiring for any elective positions can avail of the opportunity to attend provided that he/she has at least a capital share of 18 000.00 and increasing yearly.

Mediation and Conciliation Committee Report Mr. Bartolome Macasil, the committee chairperson, informed the body that there were no any untoward problems, adverse issues, complaint, and disputes regarding the coop. activities. This is a strong statement attesting to the trust of all the members to the management of the cooperative.

Ethics Committee Report The Committee Chairperson Ms. Josie Enore informed the body about The Code of Ethics in the Primer 2011 Edition. She told the group that all officers, employees, and members of the PMGES MPDC follow and implement the said code religiously. Duties and responsibilities were also guided by the principles of HONESTY, DEDICATION, and SINCERITY.

Audit Financial Report The chairperson, Mrs. Socorro S. Mercader presented the Financial Report as audited by our external auditor, Ms. Melanie Lomotan. There was a clarificatory question from Ms. Josefina David as to where the community development fund was spent. The chairman effectively explained that we share our blessings to our stake holders like the 10 000.00 donation to Yolanda victims, the funding program of the school, beautification and cleanliness drive and other academic and non-academic activities as shown in our social audit. Mrs. Cerado moved that the audited financial report be approved by the body and duly seconded by Ms. Duque. There were no objections so the awaited financial report was approved by the assembly.

Presentation and Approval of the Development Plan and Budget Accomplishments for the current year were explained by Dir. Cecilia Magalong followed by the Developmental Plan for the coming years as presented by Dir. Leony Ordilla. The accomplishments were noted by the assembly while the Developmental Plan was approved by the assembly upon motion of Ms. Fe Aban, duly seconded by Mrs. Cerado. Dir. Camacho presented the 2014-2016 proposed budgets. It was explained that theres a conservative increase of 20% per year to avoid budget deficit. The members again manifested their full trust as to the management of cooperation by approving the 2014-2016 proposed budgets as motioned by Mrs. Madriaga and duly seconded by Mrs. Gina Caoile. As a toast to the 18th General Assembly, there was a ceremonial lighting of 18 candles on a cake followed by the greetings and special wishes for the years to come.

Announcement of Election Results After the counting and canvassing of votes, the Elecom Chairperson Soledad Mangente announced the winning candidates as follows: Board of Director: 1. 2. 3. 4. Ordilla, Leony Aban, Fe Jimenez, Ludie Villarazo, Arlene - 74 votes - 71 votes - 65 votes - 62 votes

Election Committee: 1. Angeles, Reagan 2. Tumamao, Noel - 59 votes - 55 votes

Pledge of Officers Ms. Trinidad R. Galang, the school principal led the newly elected officers as they recite the Officers Pledge before the Assembly.

Raffles and Awards to Top Patrons As recognition for the efforts of members to patronize the services of the cooperative, 1% incentives were given to top sellers in the canteen from Kindergarten to Grade VI. Incentives were also given to members with highest savings deposit, highest capital share, and highest patronizers from different areas.

Other Matters The principal, Ms. T. Galang made an appeal to put the rice meal from the cafeteria to the canteen and she is willing to settle for a 20% canteen sharing if this is done. The Chairman, Socorro S. Mercader and Mrs. Feliciana Lerio explained to the Principal and the members that we have an existing MOA which stipulates that the canteen share of the

school is 20% plus 3% upon board resolution for a total of 23%. The signed Memorandum of Agreement does not include any share from the cafeteria. However, as a goodwill gesture the Cooperative also gives the school 12% from the operations in the cafeteria. Later, the Principal Ms. T. Galang strongly reiterated that she does not plan to get the rice meal from the cafeteria. Further consultations will be scheduled to study this. With regards to the voting rights, a member can only vote for the next election if she/he has at least 15 000.00 capital share. The Elecom requested that the new Board of Directors neutralize this as a board resolution and properly disseminate said resolution prior to its strict implementation next general assembly.

Distribution of Interest on Capital and Patronage Refund The auditors with the help of the BODs distributed this after the program at 4:00 P.M.

Adjournment The 18th General Assembly was adjourned at 4:30 P.M.

Prepared by:

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Attested by:

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