SA COOP

CDA Registration No.9520-06564

Aparicio, Iba, Zambales
CIN 020403487

Minutes of the 16th Annual General Membership Assembly Held on March 9,2015
at the ASU Cafeteria Conference Hall, Iba, Zambales
Present:

Chairperson/Presiding
Board Secretary
(Please refer to the Attendance Sheet)

Absent:

12 members (Also refer to the Attendance Sheet)

8 In-active (No re-registration)

Others Present
Treasurer
Bookkeeper
Accounting Clerk
Guests
Engr. Ernest Shadow
CARPO, DAR-Zambales
Engr.
ARISP-GOJO
The quorum was ascertained and the Chair called the meeting to order at
10:00am.
The Secretary presented the proposed Order of Business. On motion of Dr.
and seconded by Dir.
, the Order of Business was adopted as follows:
1. Call to Order
2. Opening Rituals
a. Opening Prayer
b. LupangHinirang
c. Cooperative Hymn
d. Zambales Hymn
e. Cooperative Pledge
3. Business Meeting
a. Roll Call
b. Declaration of Quorum
c. Approval of the Order of Business
d. Consideration of the Minutes of the 15th Annual General Membership
Assembly
e. Various Reports
Board of Directors
Trainings Conducted
Lending Operations
2012 Audited Financial Reports
f. New Business
2013 Annual Budget
2013 Annual Development Plan
2013 Training Calendar
Proposed SA COOP-ARISP GOJO Tie-Up
g. Other Matters
h. Adjournment

HIGHLIGHTS
Consideration/Matters Arising for the Minutes of the 15th Annual General
Assembly
The minutes of the 15th Annual General Assembly was read by the Secretary.
There was no correction made.
On motion of Dir. and seconded by
General Membership Assembly was adopted.

, the minutes of the 15th Annual

GA RESOLUTION NO. 1 2013

ADOPTING THE MINUTES OF THE 15TH ANNUAL GENERAL MEMBERSHIP
ASSEMBLY.
Matters Arising from the Minutes
1. On query of
, the Chair answered that collection letters have been sent
to past due loan accounts.
2. Another query of
was about the status of the SA COOP-CLIMBS
tie-up. The Chair responded that it was pending for further study.
3. Mr.
asked updates on the AIM C project. The Chair explained
that the implementation is delayed due to problem on project site.
Consolidated Reports of the Board of Directors, EdComand Bookkeeper
The Chair rendered the accomplishment reports of the Board composed as
follows:
1. Meetings Conducted
a. Regular
b. Special
c. Ownership
2. Resolutions Adopted
3. Loans Approved
a. No. of PNs
b. Amount

11
2
1
29
5
P591,206.94

The Vice-Chair presented the trainings, seminars, workshops and conferences

sponsored, co-sponsored and attended as follows:
Sponsored
Co-sponsored
Attended
TOTAL

5
6
9
20

The Two Years Training Calendar for the 2013 and 2014 was also presented.
The Bookkeeper presented the financial reports for the year ended December
31, 2012. The highlights of which are as follows:
PARTICULARS
Total Assets
Total Liabilities
Members Equity
Paid-Up Share Capital
Revenues

AMOUNTS
1,533,364.40
599,568.26
933,364.40
805,030.20
314,168.60

Total Expenses
Net Surplus

109,146.02
205022.58

On motion of Dir. and seconded by Dir.

, the reports of the Board of
Directors, the EdCom and the Bookkeeper were adopted.
GA RESOLUTION NO.2 2013
ADOPTING THE REPORTS OF THE BOARD OF DIRECTORS, EDCOM AND
THEBOOKKEEPER
On motion of Mr.
recess for lunch.

and seconded by Dir.

, the Chair declared a

At 12:53pm, the Chair called the afternoon session to order.

Reports of the Manager
The Manager presented the proposed amendments on the Membership and
Lending Guidelines as follows:
1. Members classification and rating system
CRITERIA
Payment of Subscribed Share Capital
Payment of Loans
Attendance to Meetings and Other Activities

POINTS
20
70
10

2. Two percent (2%) loan retention for capital build-up

3. Twenty four percent (24%) penalty on past due
After thorough deliberation, on motion of Dir.
and seconded by Dir. , the
amendments to the Membership and Lending Guidelines were adopted.
GA RESOLUTION NO.3 2013
ADOPTING THE AMENDMENTS TO THE MEMBERSHIP AND LENDING
GUIDELINES

2013 Annual Plan

The Manager presented the proposed Annual Plan for 2013. The target was
increased from P925,000.00 to P1,000,000.00.
On motion of Mr.
Annual Plan was adopted.

and seconded by

, the amended 2013

GA RESOLUTION NO.4 2013

ADOPTING THE 2013 ANNUAL PLAN
2013 Annual Budget
Mrs.
presented the proposed budget for the operational year 2013. The
proposal is composed of the following:

PARTICULARS

BUDGET

Income Budget
Expense Budget
Net Surplus

313,500.00
169,950.00
143,550.00

On motion of Dir.
and seconded by Mr.
proposedannual budget for the operational year 2013 was ratified.

, the

GA RESOLUTION NO. 5 2013

RATIFYING THE ANNUAL BUDGET FOR THE OPERATIONAL YEAR 2012.
Dir
discussed the needs to outsource training funds to subsidize the
training expenses of the primaries for complying the CDA required training.
On motion of Mr.
and seconded by Dir. , the SA COOP will
request financial assistance from the Provincial Cooperative Development
Council (PCDC).
GA RESOLUTION NO.6 2013
REQUESTING FINANCIAL ASSISTANCE FROM PCDC TO SUBSIDIZE THE
TRAINING EXPENSES OF THE NEW MEMBERS.
SA COOP ARISP GOJO PROPOSED TIE-UP
Mr.
Insurance.

discussed the products of the ARISP-GOJO Life and Non-Life

SA COOP-DAR Tie-Up
Engr. Shadow, CARPO, DAR Zambales, discussed the DAR-PCIC tie-up to
subsidize the crop insurance of the ARBs. One billion pesos has been budgeted by
DAR for the project. SA COOP can apply as underwriter.
.
Election of Officers
At 3:23pm, the Chair relinquished the floor to the EleCom Chairperson to
conduct the election of officers. The following positions were declared vacant, to wit:
4 Members of the Board of Directors
1 Member of the Board of Director for the unexpired term of Dir.
resigned due to time constrained
3 Members of the Election Committee
3 Members of the Audit and Inventory Committee
The results of election were as follows:
CANDIDATES

# OF
VOTES

REMARKS

18
16
16
15
14

2 years
2 years
2 years
2 years
1 year

12
12
12

1 year
1 year
1 year

BOARD OF DIRECTORS

AUDIT COMMITTEE

ELECTION COMMITTEE

who

10
9
8

1 year
1 year
1 year

Adjournment
Having no more matters to be taken up, on motion of Dir. andunanimously
seconded, the Chair declared the 16th Annual General Assembly adjourned at
3:55 oclock in the afternoon.

I herby certify to the correctness of the above minutes of the 15th Annual General
Assembly.

Board Secretary
Attested:

Board Chairman and Presiding Officer