COOPERATIVE DEVELOPMENT AUTHORITY

Calamba Extension Office

INSPECTION REPORT

Name of Inspector: ROMEL P. MABILANGAN Date of Inspection:

Name of Cooperative: PAG-ASA CREDIT COOPERATIVE Address: BRGY. SAMPIRO,,SAN JUAN, BATANGAS

No. AREAS OF CONCERN FINDINGS (Itemized) LEGAL BASIS RECOMMENDATION

14 On the subscription Members' subscribed and Subscription Agreement, MC Every time a member has completely paid their subscription, he/she must re-subscribe anew with the Cooperative
Agreement paid-up shares are NOT 2013-04, Books of Accounts
COVERED by subscription
agreement
15 On the maintnance The Cooperative DOES NOT Share and Transfer Book, Article Record all shares and share certificates that has been issued / transferred to have an accurate account of what has been given out
of Share and MAINTAIN a Share and 52 (1) of RA 9520
Transfer Book Transfer Book
16 On the issuance of The Cooperative DOES NOT Rule 10 Revised IRR, Policy on Follow CDA MC No. 2013-04 -- issue share certificate after the end of each year
Share captal ISSUE share capital issuance, MC 2013-04, Share &
Certificate certificate members Transfer Book, BL
17 On the The capital build-up MC 2013-04, BL, Art 75 of RA Undertake the CBU program as provided for in the BL OR Amend the BL by providing a better and realistic CBU program that the members can partici
implementation of programs specified in the BL 9520, Policy, Books of Accounts
capital build-up ARE NOT IMPLEMENTED
programs
21 On the conduct of The conduct of regular Board BL, Minutes the meetings The Board of Directors must meet at least once a month
regular Board of of Directors' meetings is NOT
Directors meetings DONE on a monthly basis.

22 On the Performance The different committees are Rule 7 of the Revised IRR, By- Committees must meet pursuant to the provisions in the BL and perform teir respective functions as provided in the by-laws
of different NOT PERFORMING their Laws, MC 2013-22, Monthly
Committees respective functions as Reports, Minutes, Annual Dev't
provided for in their by-laws Plan
(ie.meetings).
36 On the utilization of The statutory funds ARE AFS (Statement of Changes in Ensure that the Statutory funds are utilized what is intended for
statutory funds NOT utilized or disbursed in Equity), Journal voucher,
accordance with the Disbursement Book, Subsidiary
Law/By-laws: Ledger

a. Reserve Fund Fund WAS USED NOT IN Article 86 of RA9520 / BL Ensure that the Statutory funds are utilized what is intended for
ACCORDANCE with what it
was intended for
b. Education and Fund WAS USED NOT IN Article 86 of RA9520 / BL Ensure that the Statutory funds are utilized what is intended for
Training Fund ACCORDANCE with what it
was intended for
c. Optional Fund Fund WAS USED NOT IN Article 86 of RA9520 / BL Ensure that the Statutory funds are utilized what is intended for
ACCORDANCE with what it
was intended for
d. Community Fund WAS USED NOT IN Article 86 of RA9520 / BL Ensure that the Statutory funds are utilized what is intended for
Development Fund ACCORDANCE with what it
was intended for
41 On the membership The registry of membership Arts. 52 and 54 RA 9520, MC Ensure that the registry of membership contains the required minimum information pursuant to the pertinent memorandum circular.
registry DOES NOT CONTAIN the 2012-16, Membership Registry
required minimum
information pursuant to the
pertinent memorandum
circular.
42 On the conduct of The cooperative DOES NOT Art. 10 RA 9520, By-Laws, Follow the provisions in the BL on the conduct of PMES
PMES to new CONDUCT PMES to new Board Resolution, Minutes of
members. members. Meeting, Education Committee
Report, Annual Development
Plan
45 On the Notice of Notice of regular general/ Art. 34 (1) RA 9520, BL, Any Ensure that all notices has been sent to all members on record
Special General representative assembly Proof of Sending of Notice of
Assembly Meeting meeting WAS NOT duly sent Meeting or Publication
to all members of record.
54 On the bonding of The accountable officers and MC 2011-13, MC 2015-01, Make sure that the accountable officers are covered with sufficient bond
accountable officers employees of the cooperative Policy
handling funds, securities,
and/or property are
sufficiently ARE NOT
COVERED by surety bond.
58 Om compliance with The cooperative is issued Certificates, Licenses, Permits, Secure the necessary regulatory Mayor's Permit / Business Permit
other Laws with the necessary MC2011-16, CDA-BIR Joint
certificates, permits and
licenses, to wit:
b. Certificate of Tax b. NO or EXPIRED BLGF Secure CTE with the BIR
Exemption Certificate of Tax Exemption

65 on the The cooperative implements MC 2013-32, Policies , Board the coop should implement the mainstreaming of GAD
implementation and mainstreaming of GAD in the Resolution
mainstreaming of following:
GAD
a. Policy a. NO Policy Reports , AFS

b. Cooperative b. NOT INCLUDED IN THE

Development Plan Cooperative Development
Plan
c. c. NO
Programs/activities/ Programs/activities/plan
plan
d. Budget d. NO Budget

66 On the creation, The cooperative create, MC 2013-32, Policies , Board The coop should create, appoint and establish GAD mainstreaming mechanisms & instruments
appointment and appoint and establish the Resolution, Reports
establishment of following GAD
GAD mainstreaming mainstreaming mechanisms
mechanisms & & instruments:
instruments
c. GAD Education NO GAD Education and
and Training Training program
program
d. GAD support NO GAD support systems
systems and services and services

78 on the DOSRI The DOSRI accounts ARE Aging of Accounts/Books of All DOSRI accounts should be monitored
account NOT monitored Accounts, Policies, List of
Officers
81 On approved CASA The cooperative HAS NO CASA The cooperative should have approved Codified Approving and Signing Authority (CASA) and is followed.
approved Codified Approving
and Signing Authority
(CASA) and is followed.
82 On the remittance of The cooperative DOES NOT Article 86 RA 9520, AFS, B/L, The cooperativeshould remit its Cooperative Education and Training Fund (CETF) to the federation and/or union of which it is a member.
CETF REMIT Cooperative Books of Accounts
Education and Training
Fund (CETF) to the
federation and/or union of
which it is a member.

We hereby conform with the above findings which were discussed to the Cooperative's Officers during the
Exit Conference and undertake to correct the said findings within the prescribed period. It is understood that
Prepared by: the Authority is not precluded to conduct further examination when it deems necessary.

ROMEL P. MABILANGAN ________________

Name of Inspector Chairman/Authorized Representative

_____________________ _________________
Date Signed Date Signed