2011 R - 008 - APPROVING THE SCHEDULE OF GENERAL ASSEMBLY AND ELECTION-RELATED ACTIVITIES

Excerpts from the Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 11 March 2011 at the OCGEMPC Board Room, Olongapo City Hall

Resolution No. 2011-008

APPROVING THE SCHEDULE OF GENERAL ASSEMBLY AND ELECTION-RELATED ACTIVITIES

WHEREAS, R.A. 9520 and the OCGEMPC By-Laws require the holding of a General Assembly and Election of Officers every year;

WHEREAS, the Election Committee has proposed the adoption of a schedule of activities leading to the conduct of the annual General Assembly and Election of Officers for the guidance of all concerned, and to ensure that these activities shall be conducted in a truly democratic manner;

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

RESOLVE, AS IT IS HEREBY RESOLVED, to adopt the proposed Schedule of Activities leading to the annual OCGEMPCI General Assembly and Election of Officers, as follows:

Activity

1. Announce date and venue of the GA; announce/post vacant positions to be filled up through elections

2. File Certificates of Candidacy (CC)

3. Screen candidates; release list of, and notify qualified candidates

4. Candidates campaign

Schedule/Duration:

1. At least 30 days before GA announce/post vacant positions to be filled up through elections

2. Start exactly 30 days before elections, lasting 10 consecutive days,ending at 5:00 p.m. on the 10th day

3. Start exactly on the day after deadline notify qualified candidates of filing CC’s, lasting exactly 7 consecutive calendar days thereafter

4. Start exactly 14 days before election and ends on election day

Done this 11th day of March 2011 at Olongapo City, Philippines.

2011 R - 007 - APPROPRIATING THE AMOUNT OF P200, 000 TO DEFRAY THE EXPENSES FOR THE 2011 OCGEMPC GENERAL ASSEMBLY

Excerpts from the Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 11 March 2011 at the OCGEMPC Board Room, Olongapo City Hall

Resolution No. 2011-007

APPROPRIATING THE AMOUNT OF TWO HUNDRED THOUSAND PESOS (P200, 000) TO DEFRAY THE EXPENSES FOR THE 2011 OCGEMPC GENERAL ASSEMBLY

WHEREAS, it is necessary to allocate funds for the conduct of the OCGEMPC 2011 General Assembly in order to ensure its success and at the same time put a limit on its expenses;

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

RESOLVE, AS IT IS HEREBY RESOLVED, to, as it hereby appropriates the amount of Two Hundred Thousand Pesos (P200,000) out of the general operating funds of the OCGEMPC, to defray the expenses to be incurred in the conduct of the General Assembly to be held in 20 April 2011.

Done this 11th day of March 2011 at Olongapo City, Philippines.

2011 R - 006 - POLICIES AND GUIDELINES ON CASH ADVANCES

Excerpts from the Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on February 21, 2011 at the OCGEMPC Board Room, Olongapo City Hall

Resolution No. 2011 – 006

POLICIES AND GUIDELINES ON CASH ADVANCES

WHEREAS, it is necessary to promulgate policies and guidelines regarding cash advances as part of the internal control measures of the cooperative;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the OCGEMPC in session assembled;

RESOLVE, AS IT IS HEREBY RESOLVED to, as it hereby promulgates the following:

Title: POLICIES AND GUIDELINES ON CASH ADVANCES

I. PURPOSES OF CASH ADVANCES – Cash Advances may be allowed only for official/operational purposes. to wit:

1. Purchases of office supplies, fixed assets, merchandise inventory and other supplies when direct payment to the vendor/supplier is not possible under the circumstances of the transaction, or when payment by check is not possible

2. Expenses for repairs, maintenance, and other services

3. Seminars, conferences, conventions, meetings and training attended by officers and staff

4. Other expenditures necessary for the continued operation of the cooperative’s business, such as motor vehicle rental, traveling expenses, and other necessary services

5. Cash advances for salaries, wages or allowances of office employees and staff shall be allowed provided, that these are only for, and do not exceed, the total amount due in the current pay period, and are fully deducted automatically on the nearest payday after the cash advance has been made.

II. LIMITS ON AMOUNT OF CASH ADVANCE

1. Only officers and staff of the cooperative shall be allowed to make cash advances which shall not exceed Twenty Thousand Pesos (P20,000), Only Bonded Officer shall allowed to make cash advances amounting to more than Twenty Thousand Pesos (P20,000).

2. The amount of cash advance shall be limited to the price of the item/s to be purchased, repairs to be undertaken and services to be rendered by Companies/Dealers/Suppliers who do not accept checks as payment.

3. For cash advances re; purchases, repairs and services, such shall be canvassed first to have an idea how much cash advance is to be taken. For this purpose, Request slip, purchase order or job order should be prepared first by the end user, duly approved by the approving authority.

4. For cash advances regarding travels for two days or more, to attend conventions, seminars and trainings, this shall be limited to seminar fees, if any; per diems/traveling allowances, lodging fees and transportation expenses.

III. APPROVAL OF CASH ADVANCES – the approval of cash advances is hereby assigned based on the amounts as follows:

1. Manager Up to 20,000

2. The Chairman Over 20,000 to P100, 000

3. Majority of the Board of Directors Over 100,000 to P500, 000

4. General Assembly Over P500, 000

IV. LIQUIDATION OF CASH ADVANCES

1. All cash advances shall be liquidated within seven days after the transaction has been consummated for which cash advance was taken.

2. Statement of liquidation expenses should be prepared by the employee who took the cash advance. Such liquidation statement should be properly supported and documented. As such, the bookkeeper shall ensure the accuracy, authenticity and correctness of data in the documents prior to booking of liquidation.

3. No succeeding cash advances shall be granted unless the previous cash advance has been properly liquidated in full.

4. Cash advances not liquidated within the period specific shall be booked as accounts receivable from the officer or management staff concerned who made such cash advances and will bear an interest rate of one percent (1%) per month, automatically deducted from the salaries for a maximum period of twelve (12) months until settled in full. Provided however, when the un-liquidated amount is less than P1, 200 the deduction period is a maximum of 6 months.

5. All cash advances are subject to post audit by the Audit and Inventory Committee, while cash advances amounting to more than P20,000 are subject to both pre and post audit by the Audit and Inventory Committee as part of the cooperative’s internal control measures.

V. CASH ADVANCE FORMS

1. The Treasurer or Cashier shall not make any disbursement for cash advance unless supported by a duly approved Cash Advance Form. The following forms shall be printed and used in requesting and liquidating cash advances:

(a) CASH ADVANCE REQUEST and RECEIPT FORM

DATE (State the date here)

Requesting cash advance in the amount of ____(Amount in words and figures)_______ to defray expenses for the following purpose/s: ________

Requested by: (Signature of requestor over printed name), (Position in the Coop)

APPROVED FOR: (Approved amount in words and figures) SUBJECT TO LIQUIDATION WITHIN SEVEN DAYS, and other pertinent coop policies on cash advances.

Approved by: (Signature of approving authority over printed name)

(Position in the Coop)

RECEIPT:

I hereby acknowledge receipt of the above-stated amount on (date of receipt), and I hereby bind myself to the coop policies on cash advances.

(Signature over printed name or requestor)

Copy Furnished: The Coop Bookkeeper

(b) CASH ADVANCE LIQUIDATION FORM

Name of Employee: ________________________ Liquidation Date: ______

Position in the Coop: _______________________ Cash Advance Date: _______

AMOUNT OF C. A. _____ (In words and figures) __________ C. A. Voucher No. __

Particulars: (Expense Item/s) Supporting Document/s: Amount:

1.____________ _____________________ P_______________

2.____________ _____________________ P_______________

3____________ _____________________ P_______________

4.____________ _____________________ P_______________

5.____________ _____________________ P_______________

TOTAL LIQUIDATED: P_______________

Amount to be refunded to the Coop / reimbursed by the Coop P ______________

Prepared by: Checked by: Approved by:

_______________________ _____________________ _____________________

Officer/Staff who made Bookkeper/ Accountant Approving Authority

a cash advance

Copy Furnished: The Coop Bookeeper

______________________________________________________

RESOLVED FURTHER, that these policies and guidelines take effect immediately upon approval by the OCGEMPC Board.

Done this 21st day of February 2011 at Olongapo City, Philippines.

2011 R - 005 - POLICIES AND GUIDELINES ON OVERAGES AND SHORTAGES IN CASHIERING

Excerpts from the Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on February 21, 2011 at the OCGEMPC Board Room, Olongapo City Hall

Resolution No. 2011 – 005

POLICIES AND GUIDELINES ON OVERAGES AND SHORTAGES IN CASHIERING

WHEREAS, it is necessary to promulgate cashiering policies and guidelines as part of the internal control measures of the cooperative;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the OCGEMPC in session assembled;

RESOLVE, AS IT IS HEREBY RESOLVED to, as it hereby promulgates the following:

Title: POLICIES AND GUIDELINES ON OVERAGES AND SHORTAGES, RE: CASHIERING

I. CASH AUDIT

1. The Audit and Inventory Committee shall conduct monthly surprise cash counts in the presence of the bookkeeper, the Coop Manager, and a witness who is a member of said Committee.

2. The surprise cash count shall be documented, and in case of an adverse finding, the Board of Directors, thru the Secretary, shall be furnished a copy within five (5) days from date of cash count. In case there are no adverse findings, Cash Count Reports shall be furnished to the Board every 3 months.

II. OVERAGES: If upon conduct of surprise cash count by the Audit and Inventory Committee (AIC), and on overage is discovered, the following shall be done:

1. The bookkeeper shall locate the difference between the Cash book and the cash count. Meantime, said overage shall be booked as ACCOUNTS PAYABLE. Entry would be: Debit CASH ON HAND and Credit ACCOUNTS PAYABLE.

2. If after a month, such discrepancy can not be traced, said overage shall be booked by the Bookkeeper as OTHER INCOME. Entry would be: Debit ACCOUNTS PAYABLE and Credit OTHER INCOME.

III. SHORTAGES: Shortages discovered during a SURPRISE cash counts being conducted by the Audit and Inventory Committee (AIC) shall be treated as follows:

1. If the amount is less than P100, the Treasurer/Cashier or back up should immediately pay for the said shortage;

2. If the involved amount is more than P100 but less thanP500, said shortage shall be booked as Accounts Receivable against erring officer/staff and MUST be paid in the next payday nearest to the discovery of the Shortage.

3. When the shortage is more than P500, said shortage shall be booked as Accounts Receivable against erring officer/staff and MUST be settled in equal semi monthly deduction from the payroll for a reasonable period, but not to exceed 12 months.

4. If upon investigation, shortages are being incurred due to willful act of the person in charge, that is, due to dishonesty, such shall be a ground for administrative sanction for first offense, as follows:

Amount Involved Penalty

Less than P500 Written Reprimand

P500 to P5, 000 Immediate Preventive Suspension

Over P5, 000 to P10, 000 Termination of Employment/Membership

5. However, if shortages become repetitive, or habitual shortages are being incurred due to integrity problems, despite the administrative sanctions imposed, and regardless of the amount involved, said officer/staff shall be terminated from his/her employment and/or membership in the Cooperative.

RESOLVED FURTHER, that these policies and guidelines take effect immediately upon approval by the OCGEMPC Board.

Done this 21st day of February 2011 at Olongapo City, Philippines.

2011 R - 004 - POLICY GUIDELINES ON DISBURSEMENT OF FUNDS IN GENERAL, AND CONTROL OF CASH, IN PARTICULAR

Excerpts from the Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 17 January 2011 at the CPDO Conference Room, City Hall, Olongapo City

Resolution No. 2011-004

POLICY GUIDELINES ON DISBURSEMENT OF FUNDS IN GENERAL, AND CONTROL OF CASH, IN PARTICULAR

WHEREAS, in order to effectively control and safeguard the fixed assets of the OCGEMPC and for proper monitoring, it is necessary to promulgate policies and guidelines regarding fixed assets, for the guidance all concerned;

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

RESOLVE, AS IT IS HEREBY RESOLVED to, as it hereby promulgates the following guidelines:

Title: DISBURSEMENT OF FUNDS IN GENERAL, AND CONTROL OF CASH IN PARTICULAR

A. DISBURSEMENT OF OCGEMPC FUNDS

1. The Treasurer, Cashier and all concerned officers and staff of the coop shall not disburse funds without prior approval from the appropriate approving authority.

2. Disbursement Vouchers for the payment of expenses, payment of coop obligations and other necessary expenditures must be approved depending on the amount involved, as follows:

a. Manager Up to P10,000

b. Board Chairperson Over P10,000 to P100,000

c. Majority of Board Members Over P100,000 to P500,000

d. General Assembly Over P500,000

3. The Manager, the Chairman, and the Board of Directors are herby granted the authority to approve fund releases as provided above.

B. PETTY CASH FUND (PCF) AND REVOLVING FUND (RF)

1. Custodianship

A Petty Cash Fund (PCF) amounting to FIVE THOUSAND PESOS (P5, 000) is hereby set up to take care of minor disbursements, consisting of day-to-day expenses amounting to not more than ONE THOUSAND PESOS (P1, 000).

A Revolving Fund (RF) amounting to FIFTY THOUSAND PESOS (P50, 000) is hereby set up for payment of members’ savings deposit withdrawals and loan proceeds not exceeding P10, 000. The RF may also be used for other minor disbursements exceeding the PCF limit of P1,000 but not more than P5,000 provided however that the disbursement is limited to the following:

When the payee does not accept checks

Where the disbursements is for payment of labor costs to each worker in a project payroll

Foy payment of food, drinks and other incidental expenses during meetings, training activities, after-office-hours staff work, and other similar group activities

For disbursement of cash advances for travel and other minor expenses

For other transactions where cash is the mode of payment that is most practical, convenient and beneficial to the cooperative.

The funds shall be maintained on imprest system. At any given time, the total cash on hand and the un-replenished disbursements should be equal to the amount of the fund.

The RF shall be in the custody of the Cashier or, in the absence of the cashier, the designated custodian; while the PCF shall be in the custody of the Administrative Officer or the designated custodian. Access to and responsibility for each of the funds is limited to the respective custodian who shall be under the supervision of the Treasurer only in as far as their custody of funds is concerned

Each fund is kept separately and should never be mixed together.

2. Petty Cash Voucher / Withdrawal Slip / Revolving Voucher

A Petty Cash Voucher (PCV) is required for disbursement from the Petty Cash Fund, while Savings Withdrawals Slip or RF Voucher is required for disbursement from the Revolving Fund.

3. Replenishment

The Petty Cash/Revolving Fund contains request fo replenishment when the funds run low and insufficient to cover petty expenses or revolving fund disbursements. For the PCF, the replenishment point is P1, 200. For the RF the replenishment point is P10, 000 or as an actual need to replenish arises.

The Treasurer shall release the replenishment funds based on the Disbursement Voucher duly approved by the Manager and supported by the Replenishment Summary for PCF or RF, as the case may be, together with the duly approved PCF/RF Vouchers. As an exception to item A.3. of these policies, the Manager is hereby authorized to approve Disbursement Vouchers for the replenishment of the RF regardless of amount.

The RF and the PCF may be replenished by the Treasurer every end of the month regardless of the amount disbursed for purposes of matching income and expenses monthly through preparation of the income statement.

The replenishment check should be payable to the fund custodian.

4. Regular Cash Count of the Funds

The Cashier daily ensures the cash balance tally with the cashbook, verified by the Treasurer, witnessed by the Manager.

RESOLVED FURTHER, that the concerned officers, management staff and members of the OCGEMPC be, as they are strictly required to implement, adhere to, and abide by these Policy Guidelines;

Done this 17th day of January 2011 at Olongapo City, Philippines.