2013 R - 024 - REQUESTING THE ASSISTANCE OF THE HONORABLE CITY MAYOR ROLEN C. PAULINO IN ENJOINING ALL DEPARTMENT HEADS AND PAYROLL CLERKS TO STRICTLY COMPLY WITH RA 9520 AND THE ACCOUNTING DEPARTMENT TO MAKE PAYROLL DEDUCTIONS IN CASE THE PAYROLL CLERKS FAIL TO DEDUCT AS BILLED

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 18 July 2013 at FMA Hall, Olongapo City Hall

Resolution No. 2013 – 024

A RESOLUTION REQUESTING THE ASSISTANCE OF THE HONORABLE

CITY MAYOR ROLEN C. PAULINO IN ENJOINING ALL DEPARTMENT HEADS

AND PAYROLL CLERKS TO STRICTLY COMPLY WITH RA 9520 AND THE ACCOUNTING DEPARTMENT TO MAKE PAYROLL DEDUCTIONS IN CASE THE

PAYROLL CLERKS FAIL TO DEDUCT AS BILLED

WHEREAS, the Olongapo City Government Employees’ Multi-Purpose Cooperative (OCGEMPC) is faced with a collection problem;

WHEREAS, there is a need to enjoin all Department Heads and Payroll Clerks to strictly comply with the provisions of RA 9520 particularly, the provisions on payroll deduction of collectibles due to OCGEMPC;

WHEREAS, a graphical comparison of the OCGEMPC monthly billings to members against the collections remitted to OCGEMPC shows  an average uncollected amounts of PhP442,122.79 or almost half a million pesos per month from January to June 2013;

WHEREAS, this predicament is traced from the failure of the payroll clerks to deduct the collectibles from the members exactly as billed by the Cooperative;

WHEREAS, this threat to the financial stability of the Cooperative may be prevented with the active compliance of the payroll clerks in deducting the collectibles from the members exactly as billed by the Cooperative;

WHEREAS, the Cooperative is likewise seeking the assistance of the Accounting Department to make the correct payroll deductions, in the event that payroll clerk(s) fail to deduct from the members as billed;

WHEREAS, the Honorable City Mayor Rolen C. Paulino, has administrative authority over all departments/offices under the City Government and with the power vested by law may direct these departments, particularly the payroll clerks and the Accounting Department to comply with the RA 9520 and help the Cooperative maintain its financial stability for the benefits of its members;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of OCGEMPC hereby:

RESOLVE AS IT IS HEREBY RESOLVED TO, request the Honorable City Mayor Rolen C. Paulino to enjoin all Department Heads and Payroll Clerks to strictly comply with RA 9520 and the Accounting Department to make payroll deductions in case the payroll clerks fail to deduct as billed.

RESOLVED FURTHER, that the copy of this Board Resolution be furnished to the Honorable Mayor Rolen C. Paulino for his information and consideration.

Done this 18^th day of July 2013 at Olongapo City, Philippines.

2013 R - 18A - DESIGNATING AND AUTHORIZING THE OCGEMPC CHAIRPERSON AS ATTORNEY-IN-FACT OF THE OCGEMPC IN THE CASE VS FERNANDO MAGRATA AND ANNE MARIE GORDON AND APPROPRIATING THE AMOUNT OF ONE HUNDRED THOUSAND PESOS (P100, 000.00) FOR LEGAL EXPENSES

Excerpts from the Minutes of the Special Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 26 June 2013 at the OCGEMPC Training Room

Resolution No. 2013 – 018-A

DESIGNATING AND AUTHORIZING THE OCGEMPC CHAIRPERSON AS 

ATTORNEY-IN-FACT OF THE OCGEMPC IN THE CASE VS FERNANDO MAGRATA

AND ANNE MARIE GORDON AND APPROPRIATING THE AMOUNT OF

ONE HUNDRED THOUSAND PESOS (P100, 000.00) FOR LEGAL EXPENSES

WHEREAS, the Olongapo City Government Employees’ Multi-Purpose Cooperative must designate an Attorney-in0fact in the legal case to be filed against Fernando Magrata and Anne Marie Gordon;

WHEREAS, there is a need to allocate the amount of One Hundred Thousand Pesos (P100, 000.00) to defray litigation expenses regarding the case filed against Fernando Magrata and Anne Marie Gordon.

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the OCGEMPC hereby:

RESOLVE AS IT IS HEREBY RESOLVED TO, as it hereby designates and authorizes the Olongapo City Government Employees’ Multi-Purpose Cooperative Chairman as the Attorney-in-fact in the legal case to be filed against Fernando Magrata and Anne Marie Gordon.

RESOLVED FURTHER, that the amount of One Hundred Thousand Pesos (P100,000.00) be allocated be defray litigation expenses.

Done this 26^th day of June 2013 at Olongapo City, Philippines.

2013 R - 22 - SEEKING RECOGNITION OF THE OLONGAPO CITY GOVERNMENT EMPLOYEES’ MULTI-PURPOSE COOPERATIVE (OCGEMPC), BY THE SANGGUNIANG PANLUNGSOD OF OLONGAPO CITY

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 20 June 2013 at the OCGEMPC Training Room

Resolution No. 2013 – 022

A RESOLUTION SEEKING RECOGNITION OF THE OLONGAPO CITY

GOVERNMENT EMPLOYEES’ MULTI-PURPOSE COOPERATIVE

(OCGEMPC), BY THE SANGGUNIANG PANLUNGSOD OF OLONGAPO CITY

WHEREAS, the Olongapo City Government Employees’ Multi-Purpose Cooperative (OCGEMPC) is an organization duly registered with the Cooperative Development Authority (CDA);

WHEREAS, Art. 7 of RA 9520 otherwise known as Philippine Cooperative Code of 2008 states that “the cooperative shall aim to Cooperate with the government, other cooperatives and people-oriented organizations to further the attainment of any of the foregoing objectives”;

WHEREAS, Department of Interior and Local Government (DILG) Memorandum Circular No. 2010-73, citing the Local Government Code mandated the Sanggunian to accredit Non-Government Organization for the purpose of selection of representatives to Local Special Bodies;

WHEREAS, accreditation by the Sangguniang Panlungsod and entitlement to representation in the local special bodies is deemed by the OCGEMPC Board to be important and beneficial to the attainment of the organization’s purposes and objectives;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of OCGEMPC in meeting assembled hereby:

RESOLVE AS IT IS HEREBY RESOLVED, that the Olongapo City Government Employees’ Multi-Purpose seek, as it hereby seeks accreditation by the Sangguniang Panlungsod of Olongapo City;

RESOLVED FURTHER, that the OCGEMPC Chairman and Secretary be authorized to apply for accreditation and submit all the administrative and documentary requirements to the Sangguniang Panlungsod.

Done this 20^th day of June 2013 at Olongapo City, Philippines.

2013 R - 018 - REALIGNING TWENTY SEVEN THOUSAND PESOS FROM MISCELLANEOUS/INCENTIVE EXPENSE TO COMMITTEE MEETING EXPENSES

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 20 June 2013 at the OCGEMPC Training Room, 3^rd Floor City Hall, Olongapo City

Resolution No. 2013 – 018

REALIGNING TWENTY SEVEN THOUSAND PESOS FROM

MISCELLANEOUS/INCENTIVE EXPENSE TO COMMITTEE MEETING EXPENSES

WHEREAS, no budget was allocated for the Committee Meetings in the 2013 Budget;

WHEREAS, it was suggested by the Coop Manager to allocate Twenty-Seven Thousand Pesos (P27, 000.00) from the budget item Miscellaneous/Incentive Expense (Acct. Code 73520-2) to Committee Meetings Expenses;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE AS IT IS HEREBY RESOLVED TO, to re-align, as it hereby re-aligns Twenty Seven Thousand Pesos from Miscellaneous/Incentive Expense to Committee Meetings Expenses.

2013 - R - 017 - AMENDING RESOLUTION NO. 2013-13, AFFIRMING AND RECOGNIZING FOR THE RECORD, THE OFFICERS OF THE OLONGAPO CITY GOVERNMENT EMPLOYEES’ MULTI PURPOSE COOPERATIVE FOR THE YEAR 2013

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 20 June 2013 at the OCGEMPC Training Room, 3^rd Floor City Hall, Olongapo City

Resolution No. 2013 – 017

AMENDING RESOLUTION NO. 2013-13, AFFIRMING AND RECOGNIZING  

FOR THE RECORD, THE OFFICERS OF THE OLONGAPO CITY GOVERNMENT EMPLOYEES’ MULTI PURPOSE COOPERATIVE FOR THE YEAR 2013

WHEREAS, there is amend to amend BOD Resolution 2013-13 in order to fill up all vacant officers positions in the cooperative;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the OCGEMPC do hereby:

RESOLVE AS IT IS HEREBY RESOLVED TO, to amend, as it hereby amends Resolution No.2013-13 as follows, effective July 1, 2013

Board of Directors:

Edwin J. Piano, Chairperson

Jaime L. Mendoza, Vice Chairperson

Ira Chloemn B. Daylo, Member

Nova N. Codoy, Member

Gerard R. Madarang, Member

Marcelino D. Andawi, Member

Sol E. Solomon, Member

Other Officers:

Julie U. Reyes, Treasurer

Mildred Monje, Secretary

Audit and Inventory Committee:

Carlos Ragudos

Lilia Amor

Redentor Villanueva

Election Committee:

Benjamin Florencio

Esther Rabago

Corazon Fonseca

Education, Training & Membership Committee:

Eric Sanchez

Ellen Rose Tulao

Ramil Wong

Credit and Collection Committee:

Luz Casipong

Joy Cahilig

Jaime Elcano

Conciliation & Mediation Committee:

Jocelyn Niñonuevo

Genia Eclarino

Helson Cañero

Ethics Committee:

Gregorio Elane

Shidar Alop

Virginia Navarro

Business Development Committee:

Neal Perez

Amelia Lacanlale

Marivic Nierras

Computerization Committee:

Jerico Ballon

Emely Levita

Neil Marc Biron

Done this 20^th day of June 2013 at Olongapo City, Philippines.

2013 R - 020 - Allocating One Hundred Thousand Pesos to Pursue the Computer Upgrading

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 20 June 2013 at the OCGEMPC Training Room

Resolution No. 2013 – 020

Allocating One Hundred Thousand Pesos to Pursue

 the Computer Upgrading

WHEREAS, there is a need to upgrade Coop’s computer system to protect it from virus;

WHEREAS,  the Coop shall hire a Computer Specialist for the upgrading.

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to allocate as hereby allocates One Hundred Thousand Pesos (P100,000.00) to pursue the computer upgrading.

Done this 20^th day of June 2013 at Olongapo City, Philippines.

2013 R - 015 - Providing Interest Rate of .5 Percent for Savings Deposit which is 100% higher than other Banks’ Rate

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 15 May 2013 at the OCGEMPC Training Room

Resolution No. 2013 -015

Providing Interest Rate of .5 Percent for Savings Deposit which is 100% higher than other Banks’ Rate

WHEREAS, Art. 7. of Republic Act No. 9520 otherwise known as the Cooperative Code of 2008 states that the primary objective of every cooperative is to help improve the quality of life of its members by providing goods and services to its members to enable them to attain increased income, savings, investments, productivity, purchasing power;

WHEREAS, Art. 6 of the same Code states that the purpose of cooperative is “to encourage thrift and savings mobilization among the members”;

WHEREAS, Section 11 a. of Article VIII on Savings Deposits of OCGEMPC Bylaws states that “Any member, in addition to his share capital investment, may open a savings deposit, the rate of interest of which shall be determined by the Board at the beginning of each fiscal year in no case to exceed the rate prescribed by Central Bank of the Philippines”;

WHEREAS, Director Jaime L. Mendoza moved for an interest rate of .5% for savings deposit which is 100 percent higher than other bank rates;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED providing interest rate of .5 percent for savings deposit which is 100% higher than other banks’ rate;

RESOLVED FURTHER to conform as it is hereby conformed to Section 11 a. of Article VIII of the Bylaws which states that “Savings deposits not falling below FIVE HUNDRED PESOS (500.00) during any calendar month shall be entitled to interest to be computed quarterly based on the lowest monthly balance outstanding during the period. The interest shall be credited to the depositor’s account, and the same shall earn interest from the date it is credited, at the same rate as savings deposits”.

RESOLVED FINALLY, that savings deposits shall only be entitled to interest if no withdrawal was made during the last month of each quarter.

Done this 15^th day of May 2013 at Olongapo City, Philippines.

2013 R - 019 - APPROVING THE APPLICATION FOR VOLUNTARY TERMINATION OF MEMBERSHIP OF CELSO BULANHAGUI, ET AL

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 15 May 2013 at the OCGEMPC Training Room

Resolution No. 2013 – 019

APPROVING THE APPLICATION FOR VOLUNTARY TERMINATION

OF MEMBERSHIP OF CELSO BULANHAGUI, ET AL

WHEREAS, Art. 28 of Republic Act 9520 otherwise known as the Cooperative Code of 2008 on Termination of Membership states that “A member of a cooperative may, for any valid reason, withdraw his membership from the cooperative by giving a sixty (60) day notice to the Board of Directors”;

WHEREAS, Section 7b Article II of OCGEMPC Bylaws on Voluntary Termination states that “A member may, for any reason, terminate his membership by submitting a letter of voluntary termination to the board of directors. However, no member shall be allowed to withdraw or terminate his membership during any period in which he has any pending obligation either as a borrower, co-maker or guarantor of a loan”.

WHEREAS, the following members submitted their notice of voluntary termination with corresponding date of application;

1. Elizabeth Libut                   March 6, 2013

2. Llwellyn Rocello Jr.           March 14, 2013

3. Cristina Sangilan                March 21, 2013

4. Evelyn A. Rico                   March 26, 2013

5. Oscar Saure Jr.                   April 1, 2013

6. Ferdinand Reduca               April 1, 2013

WHEREAS, It was confirmed by the management that the abovementioned members have no pending liability either as a borrower, co-maker or guarantor of a loan;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE AS IT IS HEREBY RESOLVED, to approve as it hereby approved the Application for Voluntary Termination of Membership of Elizabeth Libut et al;

RESOLVED FURTHER, to conform as hereby conformed to Section 9 Article II of OCGEMPC Bylaws on Appraisal and payment of Members Interest Upon Termination of Membership which states that “Upon the termination of the membership of a member, the Board of Directors shall determine the book value of the member’s share capital which shall in no case exceed the par value, as established at the year-end audited financial statement nearest to the date of termination and shall fix the amount thereof in money to be paid subject to the availability of funds”.

Done this 15^th day of May 2013 at Olongapo City, Philippines.

2013 R - 07 - Awarding to Audit the Financial Condition of the Olongapo City Government Employees’ Multi Purpose Cooperative for the CY 2012 to Ms. Cecilia Moselina, CPA

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 19 February 2013 at the OCGEMPC Training Room

Resolution No. 2013 -007

Awarding to Audit the Financial Condition of the Olongapo City Government Employees’ Multi Purpose Cooperative for the CY 2012 to Ms. Cecilia Moselina, CPA

WHEREAS, the Cooperative was in search for a Certified Public Accountant accredited by the Cooperative Development Authority (CDA) in compliance with the requirement of the  Authority;

WHEREAS, Ms. Cecilia Moselina, CPA, expressed her intention thru letter to audit the financial condition of the Coop for the CY 2012;

WHEREAS, Her proposal of fees and billing includes related statement of operation, cash flows and changes in equity for the year then ended amounting to Forty Thousand Pesos (P40,000.00) excluding the Out-of-Pocket expenses;

WHEREAS, such amount is lesser than the proposed bill of Villalobos, Penaflor & Co. CPA’s who audited the 2011 Coop Finances;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to award as it is hereby awarded to audit the financial condition of the Olongapo City Government Employees’ Multi Purpose Cooperative for the CY 2012 to Ms. Cecilia Moselina, CPA.

FURTHER RESOLVED to require the external auditor to use the PESOS and CAPR as prescribed requirement by the CDA in the financial audit.

Done this 19^th day of February 2013 at Olongapo City, Philippines.

2013 R - 06 - Filing of Administrative Case and Legal Case against Mr. Fernando Magrata if no Indication of Paying His Balances until the End of February

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 19 February 2013 at the OCGEMPC Training Room

Resolution No. 2013 -006

Filing of Administrative Case and Legal Case against Mr. Fernando Magrata if no Indication of Paying His Balances until the End of February

WHEREAS, under Resolution No. 2011-035 dated July 22, 2011, the Board of Directors (BOD) resolved to authorize the Chairman to file legal cases against Fernando Magrata, Reynaldo Eringco, Aileen Sanchez and Leticia Doropan;

WHEREAS, the General Assembly ratified the resolution passed by the BOD for the filing  a case against Mr. Magrata and company during annual General Assembly meeting held on April 9, 2012;

WHEREAS, since then, efforts of collecting payments from Mr. Magrata had been exhausted with no avail;

WHEREAS, the dialogue of OCGEMPC officers with Ms. Anne Gordon on February 3, 2013 regarding the loan of Mr. Ferdie Magrata did not materialize;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to file as it is hereby filed an administrative case and a legal case against Mr. Ferdie Magrata if no indication of paying his balances until the end of February.

FURTHER RESOLVED to scout a lawyer or shall take the offer of Atty. Noel Atienza if hiring a lawyer shall affect the budget of the coop considerably.

Done this 19^th day of February 2013 at Olongapo City, Philippines.

2013 R - 05 - AVAILING LOAN PROTECTION PLAN IN LIEU OF THE EXISTING LOAN PROTECTION FUND

Excerpts from the Minutes of the Special Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 13 February 2013 at the OCGEMPC Training Room

Resolution No. 2013-05

AVAILING LOAN PROTECTION PLAN IN LIEU OF THE EXISTING 

LOAN PROTECTION FUND

WHEREAS, it has been the scheme of the Coop to deduct the unpaid balance of the borrower member who met his death from his share, savings, government benefits or if not enough from his co-maker/s;

WHEREAS, such scheme had affected the borrower’s estate and of the co-maker’s income;

WHEREAS, Loan Protection Plan/Credit Life (LPP/CL) is a program where the loan/s of the borrower members are insured to guarantee the creditor;

WHEREAS, with LPP/CL the loan of the borrower member shall be paid in the event of his death;

WHEREAS, the LPP/CL guarantees a prompt settlement of outstanding indebtedness and assures that the unpaid balance will not burden debtor’s family or estate thus develop goodwill with debtor’s family;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to avail as it is hereby avails Loan Protection Plan/Credit Plan in lieu of the existing Loan Protection Fund.

Done this 13th  day of February 2013 at Olongapo City, Philippines.

2013 R - 04 - PROCURING OF LIFE INSURANCE FOR MEMBERS IN LIEU OF DAMAYAN FUND

Excerpts from the Minutes of the Special Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 13 February 2013 at the OCGEMPC Training Room

Resolution No. 2013-04

PROCURING OF LIFE INSURANCE FOR MEMBERS IN LIEU OF DAMAYAN FUND

WHEREAS, the Damayan Fund had helped financially the Coop members who met their untimely death by giving Thirty Thousand pesos to their family;

WHEREAS, the Damayan Fund had abolished by the Cooperative Development Authority (CDA) as a life insurance and declaring it as illegal;

WHEREAS, under Article VIII Section 1. on Primary Consideration of OCGEMPC operation states that “Adhering to the principle of service over and above profit, the Cooperative shall endeavor to c. Formulate and implement studies and/or programs that will address the needs of members”;

WHEREAS, it is empirical to have a life insurance to be given to the family of the departed member/s to address their immediate needs during the wake and or to settle accounts; 

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to procure as it is herby procured a life insurance for members with an equivalent amount in lieu of Damayan Fund;

RESOLVED FURTHER, that the OCGEMPC Treasurer to authorize, as she is hereby authorized to release the said funds for the afore-mentioned purpose.

RESOLVED FURTHER, that the outstanding amount of Thirty-six Thousand Pesos intended for Damayan Fund to transfer, as it is hereby transferred to Special Membership Operation Fund to be used as backup while waiting for the release of the fund from the insurance company.

Done this 23^rd  day of January 2013 at Olongapo City, Philippines.

2013 R - 01 - APPROPRIATING THE AMOUNT OF ONE HUNDRED TWENTY-FIVE THOUSAND PESOS (P125,000.00) FOR FOOD AND ONE HUNDRED SEVENTY-FIVE THOUSAND PESOS (175,000.00) FOR GIVE-AWAY SOUVENIRS AND OTHER MISCELLANEOUS EXPENSES FOR THE 2013 ANNUAL GENERAL ASSEMBLY

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 23 January 2013 at the OCGEMPC Training Room

Resolution No. 2013-01

APPROPRIATING THE AMOUNT OF ONE HUNDRED TWENTY-FIVE THOUSAND PESOS (P125,000.00) FOR FOOD AND ONE HUNDRED SEVENTY-FIVE THOUSAND PESOS (175,000.00) FOR GIVE-AWAY SOUVENIRS AND OTHER MISCELLANEOUS EXPENSES FOR THE 2013 ANNUAL GENERAL ASSEMBLY

WHEREAS, funding is required to defray the expenses to be incurred for Annual General Assembly Meeting of the OCGEMPC which shall be held on 12 April 2013 at the Olongapo City Convention Center;

WHEREAS, expenses for the General Assembly Meeting include One Hundred Twenty-five Thousand Pesos (P125,000.00) for food and One Hundred Seventy-five Thousand Pesos (175,000.00) for give-away souvenirs and other miscellaneous expenses. 

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to appropriate, as it is hereby appropriates from the general operating funds of the OCGEMPC the amount of One Hundred Twenty-five Thousand Pesos (P125,000.00) for food and One Hundred Seventy-five Thousand Pesos (175,000.00) for give-away souvenirs and other miscellaneous expenses for a total amount of THREE HUNDRED THOUSAND PESOS (₱ 300,000.00)  for the conduct of the 2013 Annual General Assembly meeting;

RESOLVED FURTHER, that the OCGEMPC Treasurer be, as she is hereby authorized to release the said funds for the afore-mentioned purpose.

Done this 23^rd  day of January 2013 at Olongapo City, Philippines.