By: Janith B. Mirang
Annual Mandatory Report of Cooperatives needs to be submitted on time and must be completed and filled-up in details. Part of the strategy for cooperatives to be compliant is to properly equip the cooperative officers and enhance member’s ability in preparing this Annual Mandatory Report.
A Training-Workshop on Mandatory Reportorial Requirements for Primary Cooperatives with emphasis on the new Performance Audit Report (PAR) was recently conducted. The training activities last April 21, 2021 (batch 1) and April 22, 2021 (batch 2) were participated by a total of 90 participants coming from the cooperatives within Butuan City. The training workshop was initiated by the City Cooperative Development Council (CCDC) in coordination with City Cooperative Development Office of LGU Butuan City.
.. the City Cooperative Development Council (CCDC) and Butuan City Cooperative Development Office are partners of the authority. Together, they work towards the development of viable, sustainable, responsive and globally competitive cooperatives.
This was the result after soliciting and reviewing the feedbacks and suggestions made by the participants of the Virtual Trainings on Mandatory Reportorial held by the Authority last March 22 and 23, 2021. Through this CCDC initiative, led by Chairperson Junee Lee Mars Nebrada, the participants were oriented and given workshops to understand clearly the newly revised Performance Audit Report (PAR).
The resource speakers were: Fevic F. Lazarte (Sr. CDS – Butuan City Area Supervisor), with the Cooperative Development Specialists: Anna Danica B. Cuadrasal, Gezzel B. Quiao, Demelyn B. Gabales and Janith B. Mirang. The participants were trained to compute the cooperative’s Stability, Turn-over Ratio, Efficiency, Profitability and Structure of Assets, in short STEPS.
The speakers explained the following purpose of the indicators set to determine the stability of the cooperatives:
measures the cooperative's ability to meet its short term obligations as it falls due
measures the cooperative's ability to pay its current liabilities using its quick assets,
measures the degree of protection that the cooperative has for members’ savings and share capital contribution in the event of liquidation of the cooperative's assets and liabilities
measures the level of institutional capital to absorb potential losses; and
measures the sufficiency of the capital to cover the risk assets.
The indicators under the Turn-over ratio, Efficiency, Profitability and Structure of Assets were also discussed to the participants. The purpose for them to fully understand and appreciate the new report format. By completing the report through the workshop activity, they have identified the areas of their cooperatives’ business performance where they are STRONG, and the areas which NEEDS IMPROVEMENT. These areas need priority actions on a given timeline based on its importance and urgency as explained by the resource speakers.
Indeed, the CCDC and Butuan CCDO are partners of the Authority. Together, they work towards the development of viable, sustainable, responsive and globally competitive cooperatives by giving trainings to cooperatives. This way cooperatives are taught to be “Businessminded” in a scientific way. Starting where co-ops can readily learn to observe and analyze the performance of their business operations, thereby taking control in determining their success!