To strengthen the financial capacity and operational efficiency of cooperatives, the Cooperative Development Authority (CDA) through its Public Utilities Cluster and with the assistance of CDA Cordillera Administrative Region (CAR) and Region I Extension Offices, successfully conducted a Financial Management Training for Transport Cooperatives on May 8–9, 2025, in Baguio City.
This two-day training saw enthusiastic participation from transport cooperatives across the Cordillera Administrative Region (CAR) and Region I. Notably, the event was attended by 55 representatives from 30 transport cooperatives in CAR, and 48 representatives from 27 transport cooperatives in Region I.
In his welcome message, Atty. Frederick Joe N. Robles, Regional Director of CDA – Region I, emphasized the importance of continuous learning, particularly for transport cooperatives, as financial training helps in the improvement of their day-to-day operations and long-term sustainability and growth.
Meanwhile, ASec. Myrla B. Paradillo, CDA Board Member III and Head of the Public Utilities Cluster, urged cooperatives to embrace modernization while upholding strong governance in all their operations and in delivering quality services to both their members and the public. She also reaffirmed CDA’s commitment to strengthening partnerships with the LTO, LTFRB, DOTr, and other key agencies to develop and implement impactful programs that will advance the transport sector.
A team of expert resource speakers from the CDA Central Office led the sessions. Mr. Joselito O. Hallazgo, Director of the Credit Surety Fund Service (CSFS), covered foundational topics including Basic Concepts of Financial Management, Sources and Uses of Funds, Financial Policies, and the Roles of Directors and Key Officers. Ms. Doris D. Teodoro, Chief of the Supervision and Examination Division, provided insights into the Elements of a Cooperative Accounting System, Accounting for Transport Cooperatives, Basic Bookkeeping, Budgeting, and Internal Controls. The first day concluded with a practical workshop where participants applied the principles discussed.
On the second day, Ms. Mildred S. Esguerra, Director of the Registration, Supervision and Examination Service (RSES), led an in-depth session on the Standard Chart of Accounts, Basic Financial Statements, Net Surplus Allocation, Financial Statement Analysis, Business Operations & Expansion, and Regulatory Compliance for transport cooperatives.
The training program marks another step forward in empowering cooperatives with financial literacy and sound management practices as key ingredients in building resilient and modern transport cooperatives that deliver better services to the public.
In closing, Ms. Felicidad R. Cenon, OIC Regional Director of CDA – CAR also stressed out that what was learned for the two-day activity should be utilized by practicing and implementing said theories and learning to achieve a safe and sound operation of cooperatives. // NCTanglib
