souvenir program compiled - bukidnon community

VISION All members enjoy better quality of Life

MISSION To provide quality products and excellent

services responsive to the needs of the members and the community

BCC 12th ANNUAL GENERAL ASSEMBLY

MARCH 18, 19, 20 and 21, 2020

TABLE OF CONTENTS

Program and Schedule --------------------------------------------------------------------------- 2

Board of Directors Report ----------------------------------------------------------------------- 3-4

Supervisory Audit and Inventory Committee Report ------------------------------------- 5

Election Committee ------------------------------------------------------------------------------- 6

Credit Committee --------------------------------------------------------------------------------- 7

Education Committee ---------------------------------------------------------------------------- 8-9

Business Management Committee ----------------------------------------------------------- 10

I.T Committee --------------------------------------------------------------------------------------

Gender and Development Committee -------------------------------------------------------

Statement of Management Responsibility for Financial Statement ------------------ 13

Statement of Management Responsibility for Annual Income Tax Return --------- 14

Report of Independent Auditors -------------------------------------------------------------- 15-17

Statement of Financial Condition ------------------------------------------------------------- 18

Statement of Operations ------------------------------------------------------------------------ 19

Statement of Cash Flow ------------------------------------------------------------------------- 20

Statement of Changes in Equity --------------------------------------------------------------- 21

Notes to Financial Statements ----------------------------------------------------------------- 22-39

2020 Proposed Budget --------------------------------------------------------------------------- 40

11th Annual General Assembly Minutes

Sumilao ---------------------------------------------------------------------------------------- 41-42

Impasug-ong --------------------------------------------------------------------------------- 43

Camp JMC ------------------------------------------------------------------------------------ 44

Camp 14 --------------------------------------------------------------------------------------- 45

Camp 9 ---------------------------------------------------------------------------------------- 46-47

Camp Phillips DMPI Employee ----------------------------------------------------------- 48-49

Camp Phillips Retiree ---------------------------------------------------------------------- 50-51

General Assembly Working Committee ----------------------------------------------------- 52

Board of Directors, Committees and Management Staff -------------------------------- 53

-2-

BCC 12th ANNUAL GENERAL ASSEMBLY TEAM COMPOSITION

TEAM 1 March 18, 2020

March 19, 2020

Mar. 20 @ 3PM (Fri)

SUMILAO

CAMP 9

Mar. 21 @ 9AM (Sat)

PART I - OPENING PROGRAMME 2:00 PM (Wed)

3:00 PM (Thur)

PHILLIPS

REGISTRATION and ELECTION Secretariat Secretariat

Secretariat

Prayer, National Anthem and Coop Hym video video

video

Welcome Address EY Valiente AB Abrea

UCBasalio/EGMartinez

Message NP Lumapac MA Sicat

MAC Linaac/RG Ebare

Awards and Recognition JM Manhuyod

JM Manhuyod

JM Manhuyod

PART II - BUSINESS SESSION

Call the Meeting to Order: Convention Chairman ED Dablo ED Dablo

ED Dablo

Proof of Due Notice & Determination of Quorum CA Saligantin

CA Saligantin

CA Saligantin

Reading and Approval of 2019 G.A Minutes

Annual Reports:

▪ Board of Director's & Financial Highlights HS Dedumo HS Ded m

HS Dedumo

▪ Allocation of Net Surplus LA Tequillo LA Tequillo

LA Tequillo

All Committee Rep rts:

▪ Supervisory and Audit ▪ Election ▪ Credit ▪ Education ▪ Ethics

▪ Business Management ▪ I.T ▪ HR and Governance ▪ GAD

Proposals and Amendments EY Valiente EY Valiente

EY Valiente

2020 Proposed Budget Presentation GT Cahatian GT Cahat an

GT Cahatian

Declaration of Dividend HS Dedumo HS Dedumo

HS Dedumo

Adjournment (convention chairman) ED Dablo ED Dablo

ED Dablo

PART III - Distribution of NET SURPLUS

Master of Ceremony JM Manhuyod

JM Manhuyod

JM Manhuyod

-----------------------------------------------------------------------------------------------------------------------------------------------------------------

TEAM 2 March 18, 2020

March 19, 2020

March 20, 2020

IMPASUG-ONG

CAMP JMC

CAMP 14

PART I - OPENING PROGRAMME 2:00 PM (Wed)

3:00 PM (Thur)

3:00 PM (Fri)

REGISTRATION and ELECTION Secretariat

Secretariat Secretariat

Prayer, National Anthem and Coop Hym video

video video

Welcome Address JA Aquilino

GT Navarosa AP Apal

Message BB Coňa

GC Donasco EB Bacas

Awards and Recognition JA Aquilino

JA Aquilino

JA Aquilino

PART II - BUSINESS SESSION

Call the Meeting to Order: Convention Chairman EG Martinez

EG Martinez

EG Martinez

Proof of Due Notice and Determination of Quorum WT Doydora

WT Doydora

WT Doydora

Reading and Approval of 2019 G.A Minutes

Annual Reports:

▪ Board of Director's & Financial Highlights RO Pizon

RO Pizon RO Pizon

▪ Allocation of Net Surplus MP Lucino

MP Lucino MP Lucino

All Committee Report:

▪ Supervisory and Audit ▪ Election ▪ Credit ▪ Education ▪ Ethics

▪ Business Management ▪ I.T ▪ HR and Governance ▪ GAD

Pr posals and Amendments GT Navarosa

GT avarosa

G Navarosa

2020 Proposed Budget Presentation JA Sicat

JA Sicat JA Sicat

Declaration of Dividend RO Pizon

RO Pizon RO Pizon

Adjournment (convention chairman) EG Martinez

EG Martinez EG Martinez

PART III - Distribution of NET SURPLUS

Master of Ceremony FC Bañaga, Jr.

FC Bañaga, Jr. FC Bañaga, Jr.

-3-

BOARD OF DIRECTORS’ REPORT FOR THE YEAR 2019

We are glad to report the highlights and the status of our BCC business operations, various accomplishments,

on-going developments and future endeavors of the cooperative.

Financial Scorecard Highlights PARTICULAR ACTUAL CY2019 ACTUAL CY2018 VARIANCE % GROWTH

Gross Revenue 52,809,761 51,478,040 1,331,721 2.59

Total Expense 23,666,240 22,461,575 1,204,665 5.36

Net Surplus 29,143,521 29,016,465 127,056 0.44

Interest on Share Capital &Patronage Refund 21,566,204 21,472,184 94,020 0.44

Total Asset 320,365,263 312,241,482 8,123,781 2.60

Total Share Capital 130,402,117 123,332,960 7,069,157 5.73

• Interest on Share Capital & Patronage Refund is a little bit higher versus CY2018 due to tax payment that started this

year in consumer division for income derived from transaction from non-members.

• Total Share Capital has increased by 5.73% due continuous capital build-up by the members and increased

membership this year by 9% (or 240 new members).

Operational Highlights • Ongoing construction of BCC Homes subdivision. This project will start giving additional income to the cooperative

starting this year 2020.

• Ongoing construction of BCC Commercial Building that would give additional businesses to the cooperative such as:

the BCC Pension House, available Rentable Spaces for Lease, Function Venue, Additional BCC Store Outlet, and

Restaurant.

• Passed and approved 14 Board Resolutions to enhance operational efficiency, strengthen policies and implement

reforms.

• Opened a new loan product window - Home Equity Loan for the members who are interested and qualified to avail

housing equity financing for BCC Homes.

• Partnered with Land Bank of the Philippines as one of their accredited 4Ps Beneficiary POS Cash Out Center.

• Had given learning and training opportunities for BCC Staff and Officers, for a total of 16 training/seminars with a

total of 168 hours.

• Regrouped and embraced ourselves to conduct 2019 BCC Business Planning & Workshop activity on May 25-26,

2019, with the theme: “The best preparation for tomorrow is doing your best today”.

• Adopted and adhered to Compliance of Data Privacy Act of 2012 RA10173.

• Tapped the services of Syntactics Company (a website developer) to develop an official BCC Website which could be

an avenue of information access for the members and potential customers, which later on could be further

developed into a remote access facility for an online member transaction with BCC, like member’s account query,

online payment, loan application, BCC Pension House customer booking and other possible online BCC services that

can be possibly availed on line.

• This 2019, created a new committee, GAD – Gender and Development Committee, in compliance to the

Government’s mandate to promote gender equality and women empowerment.

• Conducted promo bonanza in BCC stores to enhance store customers

o Raffle Draw on Oct 31, 2019

o Grand Raffle Draw on Feb 9, 2019

• Our active participation in the following activities during cooperative month-long celebration (October 2019):

-4-

a. Attended the Coop Parade and Holy Mass at Bandstand Divisoria, Cagayan de Oro City during the Regional Coop

Month Celebration

b. Participated the Municipal Cooperative Development Council (MCDC) activity in its Feeding Program at

Mantibugao, Manolo Fortich, Bukidnon

c. Participated in the MCDC-led Tree Planting program at Diclum Tree Park, ManoloFortich, Bukidnon last October

24, 2019.

d. Participated in the Mindanao Cooperative Summit in Cagayan de Oro City.

e. Participated in the culmination activities of Cooperative Month Celebration in Valencia, Bukidnon.

Social Responsibility • Launched this year the College BCC Educational Assistance Program (first time ever) to the first ten (10) recipient

high school graduates exclusive only to qualified members’ dependents

• Conducted the BCC Christmas Gift Giving activity "Share a Heart" at Sitio Balamban, Manolo Fotich, Bukidnon, last

December 15, 2019

• Participated as co-sponsor with DMPI and Phil. Red Cross the Annual Bloodletting Activity Program

• Supported the Local Government (Barangay/Municipal) Programs & Activities through sponsorship that had

benefited the community especially some BCC members.

• Continuous support for the monthly Holy Mass sponsorship @ Our Lady of Lourdes Parish Church.

• Supported community based solicitations from schools, sports enthusiasts, LGUs activities and various organizations

• Sent donations as help for the flood victims and fire blazed in Zamboanga that affected and displaced several coop

member households, and earthquake victims in Bukidnon

• Co-sponsored the DMFI-led Mobile Mind Caravan that benefited high school students in Manolo Fortich in their

Career Path orientation.

Our Focus this CY2020 • Realization of additional businesses in BCC Commercial Complex in Damilag (Hotel, Function Venue, New

Convenience Store, Room Spaces for lease, new restaurant, enhanced Lube Bay & Automotive Repair Shop at BCC-

Shell Gas Station)

• Support to the BCC Homes marketing effort of Argus Land - Developer

All of these endeavors of the cooperative will not surely soar to another level, without your continuous support

and patronage that has made all of these possible with God’s providence.

Thank you for the trust, confidence and support you have afforded to us, our sincere appreciation, God Bless and more power.

HENRY S. DEDUMO Chairman of the Board

-5-

SUPERVISORY AUDIT AND INVENTORY COMMITTEE HIGHLIGHTS CY2019

Dear Fellow Cooperators,

The Audit Committee is an independent body elected by the General Assembly pursuant with the mandate of R.A. 9520. As envisioned by

the said law and define in our By-Laws, our main function is to safeguard the Cooperative assets and protect its interest.

The Audit Committee in particular performed and conducted the following activities for the year 2019:

Nō Functions/

Responsibilities Activities Status

1

2

Monitor the adequacy and

effectiveness of the

Cooperative’s management

and control system.

Review continuously and

periodically the books of

account and other financial

records to ensure that these

are in accordance with the

cooperative principles and

generally accepted

accounting practices

Cash Management / Financial

• Performed cash examination on the cash and accounts

• Conducted spot cash audit to all Camp Stores and Departments to

ensure proper and consistent cash handling procedures.

• Audited all existing Lessees in terms of account obligations.

Internal Control

• Audited and verified all Check Vouchers, Advances to

Officers/Staff and liquidations with valid supporting

documents attached to.

• Reviewed and monitored previous years audit findings to

regularly perform recommended processes.

• Updated all Camp Stores BIR Certificate of Registration to

avoid Tax mapping issues and penalties.

Operation

• Conducted audit on all camp stores and align certificates of

compliance on BIR and other Government mandatory rules

and sanitation.

• Audited all existing Lessees’ stalls on sanitation and

standard mandatory requirements.

Policy Compliance

• Created an Audit Policy which covers audit program and

processes of an internal audit management.

Regularly Conducted

Regularly Conducted

Regularly Conducted

Regularly Conducted

Regularly Conducted

Completed on December

27, 2019

Completed on January 6,

2020

Regularly Conducted

On going

3 Audit the performance of

the Cooperative and its

various areas of

responsibilities.

• Conducted full audit covering financial, management and social

aspects of the Cooperative.

The Audit Committee has brought to the attention of

Management and Board of Directors (BOD) on audit findings,

which we believe, would contribute to the improvement of the

Cooperative.

Full audit completed. This

includes the new

requirement of CDA

which is Social Audit.

3 Perform other functions as

maybe prescribed in the by-

laws or authorized by the

GA

Inventory

• Disposal of spoilage and defective goods/products.

• Conducted spot audit on all camp stores with regards to

physical count versus system quantity count.

• Participated in the year-end inventory of all goods

Training

• Attended the following CDA mandated training:

> Fundamentals of Cooperative

>Financial & Risk Management

> Good Governance

System Improvements

Recommended the following system improvement as result of

audit:

• Proper Month-end inventory count and reporting to correct

discrepancies.

• Benchmark to other Shell Retailers to verify desired current

Shell Inventory Practices

Completed October 4,

2019

Conducted Monthly

Completed January 2 & 3,

2020

Completed August 18 &

25, 2019

Bungalow, Phillips

Ongoing

Ongoing

Thank you!

-6-

ELECTION COMMITTEE ACCOMPLISHMENT REPORT FOR CY2019

The following were the accomplishments of the BCC Election Committee in CY 2019.

1. Created the BCC Election Guidelines.

2. Updated the Checklist for Candidate Qualification (SOP-BCCELECOM-01)

3. Updated the Certificate of Candidacy (Form-Elecom-02)

4. Attended the CDA mandatory trainings for coop officers; Fundamentals of Cooperatives,

Governance and Management of Cooperatives, Financial Management and Risk

Management.

5. Reviewed and updated the BCC Member-listing according to their current locations.

Thank you and more power to our cooperative!

-7-

CREDIT COMMITTEE HIGHLIGHTS FOR CY 2019

A. Policies, Products and Services Update:

Credit Division:

1. Able to mediate and resolved 5 out of 8 members with delinquency issues.

2. Able to reinstate (8) eight Suspended Members to Regular Active members.

3. Updated and revised formulated policy on Co-Maker Policy.

4. Established Key Result Areas for Credit Committee.

a. Quality Loan Screening - 85% to 90%

b. Reviewed and finalized of Loan Policy Manual

c. Revision of Loan Forms

d. Development of New Loan Product

B. Credit Releases and Collections:

L O A N CY 2018 CY 2019

TYPE Releases Collection Releases Collection

Appliance 64,284.69 92,344.90 - 56,228.02

Educational 187,350.65 283,476.48 121,860.11 179,953.46

Emergency 437,187.90 688,282.81 344,443.81 352,059.34

Eyeglass 12,554.20 18,206.02 3,833.33 2,901.94

Guaranteed 5,651,800.00 7,107,372.46 5,643,100.00 5,759,864.58

Instant 16,098,182.97 17,691,153.69 20,261,217.68 20,684,739.29

Mega Loan 37,830,702.93 20,808,437.91 33,407,800.41 32,225,456.89

Regular 46,419,813.69 65,076,737.49 38,139,373.17 56,102,913.87

Retirable 19,448,387.78 22,971,691.80 12,202,554.73 25,994,728.72

Vehicle 1,851,641.02 2,400,114.07 4,709,350.51 2,225,522.91

Pangkabuhayan 513,620.00 473,090.86 278,600.00 383,060.59

Commodity 12,060.40 15,523.58 6,532.54 6,618.55

Pension 1,012,904.28 541,656.48 1,917,998.23 1,808,419.98

Home Equity - - 932,152.00 269,774.67

TOTAL 129,540,490.51 138,168,088.55 117,968,816.52 146,052,242.81

C. Delinquency Ratio ( % ) – PAR Percentage

YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

2018 21.18 19.65 16.15 16.01 15.85 14.75 14.56 14.56 17.85 19.12 20.37 22.64

2019 21.90 22.82 22.01 21.09 20.37 19.09 18.27 16.71 17.14 17.74 17.36 16.12

D. Seminar Attended

• Financial Management and Risk Management Seminar – August 25, 2019 at Bungalow, Camp Phillips,

Agusan Canyon, Manolo Fortich, Bukidnon.

• Good Governance Seminar - August 18, 2019 at Bungalow, Camp Phillips, Agusan Canyon, Manolo

Fortich, Bukidnon.

E. Priorities for CY 2020

• Releasing Loan Policy Manual/Handbook

• Release New Loan Application Form and Promissory Note.

• Benchmarking of New Loan Products – Agricultural Loan and other form of Loan with high community

impact

We would like to express our gratitude to the general membership, management & staff for the trust and support given

to us.

-8-

EDUCATION COMMITTEE REPORT FOR THE YEAR 2019

Dear Fellow and Beloved Cooperators:

It is our avidity, passion and belief towards continuing advancement of BCC that the Education Committee

(EDUCOM) has inspired to intensify educational program, training/ seminars, and information drive to make our

cooperative progressive and assertive throughout the community.

The highlights of our achievements:

1. Conducted two hundred one (201) pre-membership education sessions with a total of seven hundred sixty eight

(768) attendees where most of the sessions done to were on a personalized lecture.

2. Sustained recruitment of members with special focus to New DMPI regular employees and other localities.

3. Enhanced the Pre-Membership Education Seminar fliers and videos as such to include new products and

services of the cooperative.

4. Participated in the Mindanao Cooperative Summit last September 5, 2019 in Cagayan de Oro City.

5. Attended the parade and holy mass at Bandstand Divisoria, Cagayan de Oro City during the Regional Coop

Month Celebration last October 6, 2019.

6. Participated the Municipal Cooperative Development Council activity in feeding program last October 17, 2019

at Mantibugao, Manolo Fortich Bukidnon.

7. Participated the MCDC activity in Tree Planting program at Diclum Tree Park, Manolo Fortich, Bukidnon last

October 24, 2019.

8. Participated in the culmination activities of Cooperative Month Celebration in Valencia, Bukidnon last October

22, 2019.

9. Published and released the BCC’s Newsbits for CY2019, covering the coop celebration activities, policy update,

approved board resolutions, seminars attended and other coop activities.

10. Published a cooperatively designed BCC calendar for CY2020.

11. Spearheaded the BCC Gift Giving program "Share a Heart" Sitio Balamban, Manolo Fotich, Bukidnon, last

December 15, 2019.

12. Arranged a Thanksgiving Mass at BCC Admin Office last December 28, 2019.

13. Sent Officers and Employees to the following CDA mandated and competency based seminars:

-9-

Seminars and Conferences Date Attended Participants

1.Customer Service Seminar January 27, 2019 33- BCC Employees

( Bungalow,Camp Phillips )

2. 20 Hr. Basic Training Course for Pollution

Control Officers ( PART 1 )

February 18,19,20, 2019 2 - Staff

(VIP Hotel, CdeO)

3. 20 Hr. Basic Training Course for Pollution

Control Officers ( PART 2 )

March 20,21,22, 2019 2 - Staff

(VIP Hotel, CdeO)

4. CISP General Assembly April 8, 2019(SM MOA,Manila) BOD Chairman

5. CLIMBS 47th Annual General Assembly April25,2019

(Parañaque,Metro Manila) BOD Vice - Chairman

6. 45th MASS-SPECC General Assembly April 28, 2019

(Lanang, Davao City)

2 - BODs

7. Geared Towards the Edge APC&DATAWORLD

EU Event

July 4,2019 ( Centrio Mall,CdeO)) 2 - Staff

8. Basic Cooperative/Fundamentals of

Cooperative and Good Governance Seminar

August 18,2019

(Bungalow,Camp Phillips)

BODs & Staff

9. Financial Management and Risk

Management Seminar

August 25,2019

(Bungalow,Camp Phillips)

BODs & Staff

10. Mindanao Cooperative Summit 2019 September 5, 2019

(Xavier University, CdeO)

2 - Staff

11. Employees Safety & Health Orientation September 21, 2019

(BCC, Camp Phillips )

24-Staff

12. 1Cooperative Insurance System Of The

Philippines Life and General Insurance

October 18, 2019

(Pearlmont Hotel, CdeO)

2 - Staff

13. African Swine Forum November 13, 2019( Municipal

Gymnsium,Manolo Fortich,Buk.)

2 - Staff

14. 2nd 2019 MASS-SPECC Ownership Meetings November 19-20, 2019

( VIP Hotel, CDO )

2-Staff

15. Shell Mindanao Business Meeting 2019 December 6, 2019

( Davao City )

1 - Staff

16. Succession Planning December 6, 2019

( Mindys, CdeO )

2 - Staff

The members of Education Committee wish to boost our earnest appreciation to our fellow Officers, Management

and Staff, and the General Membership for the tenacity, reliance and support given to us.

Our warmest Thank you and God bless us all!

-10-

BUSINESS MANAGEMENT COMMITTEE ANNUAL REPORT CY2019

Dear Fellow Cooperators,

We would like to report our accomplishments for the Year 2019:

1. Installed TV set at the entrance of the Supermarket store for advertisement purposes.

2. Implementation of executive order no.26 last Nov. 5, 2019 of Governor Jose Ma. R. Zubiri on the

province of Bukidnon, the total temporary ban of entry of live hogs, pork products and by-products

into the province of Bukidnon coming from other provinces in the country.

3. Evaluated and approved six (6) Suppliers who are willing to put their products in Coop stores on

consignment basis.

4. Conducted monthly monitoring of Leaseholders Account, and Sanitation and Safety inspection.

5. Conducted quarterly Raffle draw for the ticket of members patronizing BCC products and services

every three (Ps300) pesos worth cash purchases, except on fuel purchases at BCC Shell station.

6. On-going study along with outsourcing of tractor with gang mower of Cawayanon golf course.

7. On-going review of existing contract of lease on stalls occupants and makes necessary revision.

8. Submitted proposals to DMPI the field harvest mechanic pick-up and DMPI manager pick-up.

9. On-going 4P’s cash card system on the stage of final implementation in collaboration with local LGU

and LBP.

10. Installation of I love BCC signage in collaboration with other committee.

Priority projects for implementation for CY2020:

1. Hotel and Space Rentals and Fee charges

2. Ticketing outlet for ferry and air plane at convenience store

3. Photo Copier Machine at convenience store

4. Lamination Machine

5. Rewards Card-points system

6. Laundry Shop

7. Car Wash

8. Strengthening of vehicle repair and maintenance shop at Shell Gasoline Station

9. Vulcanizing Shop

10. Revival of Sumilao Rolling Store

11. Beautification and renovation of camp stores

Projects under study:

1. Rental projects

2. Laundry Shop

3. 24/7 store concept for BCC homes convenience store

We, the Business Management Committee would like to extend our sincere, heartfelt gratitude for the trust

and confidence afforded to us.

-11-

I.T. COMMITTEE ACCOMPLISHMENT REPORT FOR CY2019

The following are the accomplishments of the BCC I.T. Committee in CY2019:

Operational

1. Hired new IT Supervisor and redefined its function and responsibility to ensure that IT-related

needs of the cooperative are effectively addressed and managed.

2. Instituted a daily monitoring of IT systems before and after business hours to ensure that

IT systems are working smoothly uninterrupted to deliver cooperative’s services.

3. Implemented improvements in the daily data backup process and system.

4. Implemented a digital queuing system for Credit cashier transactions.

5. Implemented improvements in internet accessing and instituted guidelines in using internet.

6. Conducted an in-house assessment of the Cybersecurity Maturity or Information Security

Maturity of the cooperative using the framework of International Organization of Standardization

(ISO) and National Institute of Standards and Technology (NIST). Results of the assessment were

properly noted and recommendations are in-place to strengthen systems and processes.

Policies, Manual and Guidelines

1. Revised the existing Data Privacy Manual to enhance the existing into a comprehensive scope,

from five (5) pages, now twenty (20) pages.

2. Developed a Social Media Procedure and Guidelines for the cooperative.

3. Developed a Non-Disclosure Agreement document and guideline for the cooperative.

Business Support and Initiatives

1. Participated in the evaluation and implementation of Land Bank POS Cash-Payout System.

2. Conducted sourcing, evaluation and recommendation for the development of BCC website.

3. Implemented CCTV systems to main store and critical areas of the business.

-12-

GENDER AND DEVELOPMENT COMMITTEE ACCOMPLISHMENT REPORT CY 2019

The Gender and Development committee of BCC was just created last April 2019 as mandated by CDA based

on MC No. 2013-22 known as the “Guidelines in Mainstreaming Gender and Development (GAD) in Cooperatives

which help the Cooperative in the pursue of clear path in achieving gender equality (GE) and MC No. 2017-04

known as “Tools for assessing Progress of Gender Equality in Primary Cooperatives” which aims to determine the

Co-operative progress in integrating gender equality (GE) in the operation.

As part of GAD Mainstreaming Framework, the committee performed the following activities;

1. Gender analysis of Cooperative using MC 2017-04 as assessing tool.

2. Developed initial GAD mainstreaming activities and formulated GAD Plan and budget for CY 2020.

3. Initiated Self Audit on Compliance of BCC on Gender Sensitivity awareness and presented to the board the

salient points of two Memorandum Circular No.2013-22 and No 2017-04.

4. Attended the seminar on GAD Mainstreaming Orientation & Gender Sensitivity Training (GST) held on

September 16-17, 2019 at Tibud sa Katibawasan MPC Training Hall, Purok Rañada, Brgy. Poblacion,

Polomlok, South Cotabato, in coordination of MASS-SPEC

Pursuant to Section 5 of Memorandum No. 2013-22 and to the Philosophy of Gender and Development Committee

which EMBRACES THE INNER and OUTER YOU have plans the following;

1. Benchmark to other Coop with established GAD programs.

2. To produce Audio-video Presentation on Gender Sensitivity Awareness.

3. To provide Financial Assistance for High school students of member who are solo parent, indigent people and PWD.

4. To publish a Primer on Sexual Harassment in the workplace.

5. To attend Gender Audit Trainings and Gender analysis tools.

6. Conduct study of mandatory GAD Trainings for BCC Officer and Employees

7. Installation of Lactation and Nursery Facility at the premises of BCC building.

The Committee yearns to express our gratitude to our BCC Officers, Management, Staff and Members for the

continuous support. Rest assured we will continue to institutionalize GAD in our Cooperative.

Our heartfelt gratitude and more power!

Eduardo G. Martinez Johnny S. Aquilino

Chairperson Vice-Chairperson

Dawn Shella May Galorport Carolyn C. Penuela

Member GAD Focal Person

-15 -

LOPE LARANJO BATO & CO. Certified Public Accountants (A Member Firm of The Leading Edge Alliance Global)

2/F Bato Building, Coastal Highway, Zone 1, Kauswagan Cagayan de Oro City, 9000 Philippines Tel. Nos.: (063-88)8802793 & 0918-8887070 Email: info @llbato-cpas.com and [email protected] Website: www.llbato-cpas.com

Branches:

Metro Manila Office Unit 827, South Star Plaza

Osmeña Highway

Bangkal, Makati City

Cell (063)917-7024175

[email protected]

Cebu Branch c/o Reyes & Bato Consulting

3F Zion Center

A. Del Rosario Street, Guizo,

Madaue City 6014

Cebu Province

Tel. No. (032)272-3140

Davao Branch 2/F HP Outsourcing Building

Aurora Quezon corner

Bonifacio Streets

Davao City 8000 Philippines

Tel. No.:(082)300-5509

General Santos Branch 3/F AJM Building

Magsaysay Avenue

General Santos City

Tel. No.: (083)301-3688

Butuan Branch No. 3373 Gacho Apartment

Charito Ville II, T. Calo Ext.

Butuan City 8600

Tel. No.: (085)342-1946

Malaybalay Branch 2F Jamstar Building

Judge P. Carillo Street

Malaybalay City, Bukidnon

Tel. No.: (088)314-0694

Siquijor Branch 2F New Public Market Bldg.

Poblacion Siquijor, Siquijor

6225 Philippines

Tel. No.: (035) 480-9320

Ozamiz Branch G/F Medina Building

Gallardo Street

Ozamiz City

Tel. No.: (088)564-3481

REPORT OF INDEPENDENT AUDITORS The Board of Directors and Members Camp Phillips, Bukidnon Community Cooperative Manolo Fortich, Bukidnon

Report on the Financial Statements Opinion We have audited the financial statements of Bukidnon Community Cooperative, which comprise the statements of financial position as at December 31, 2019 and 2018, and the related statements of operations, statements of changes in equity, and statements of cash flows for the years then ended, and notes to the financial statements, including a summary of significant accounting policies. In our opinion the accompanying financial statements present fairly, in all material respect, the financial condition of the Bukidnon Community Cooperative as at December 31, 2019 and 2018, and its financial performance and its cash flows for the years then ended in accordance with the Philippine Financial Reporting Framework for Cooperatives. Basis for Opinion We conducted our audits in accordance with Philippine Standards on Auditing (PSAs) and the Standard Audit System for Cooperatives (SASC). Our responsibilities under those standards are further described in Auditor’s responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Corporation in accordance with the Code of Ethics for Professional Accountants in the Philippines (Code of Ethics), together with the ethical requirements that are relevant to our audit of the financial statements in the Philippines and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide basis of our opinion. Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with the Philippine Financial Reporting Framework for Cooperatives, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statement, management is responsible for assessing the Cooperative’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Cooperative or to cease operations, or has no realistic alternative but to do so.

Firm’s Accreditations: BOA Accreditation No. 6358, Valid until October 16, 2021 BIR Accreditation No. 16-006925-000-2017 Valid until August 29, 2020 CDA CEA No. 120-AF Valid until October 16, 2020 NEA Accreditation No. 2017-10-0044 Valid until October 9, 2020 SEC Accreditation No. 0355-F Valid until April 5, 2021 BSP letter Dated September 15, 2018 Valid until September 14, 2021

LLB & Co.

Those charged with governance are responsible for overseeing the Cooperative’s financial reporting process. Auditor’s Responsibilities for the Audit of Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements, as a whole, are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with PSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with PSAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements,

whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;

• Obtain an understanding of internal control relevant to the audit in order to design audit

procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Cooperative’s internal control;

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management;

• Conclude on the appropriateness of management’s use of the going concern basis of

accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Cooperative’s ability to continue as a going concern. If we conclude that a material uncertainty exists we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Cooperative to cease to continue as a going concern; and

• Evaluate the overall presentation, structure and content of the financial statements,

including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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LLB & Co Report on Legal and Other Regulatory Requirements Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplementary information required under Revenue Regulations No. 15-2010 in Notes 28, to the financial statements is presented for purposes of filing with the Bureau of Internal Revenue and is not a required part of the basic financial statements. Such supplementary information is the responsibility of Bukidnon Community Cooperative and has been subjected to the auditing procedures applied in our audits of the basic financial statements. In our opinion, the supplementary information is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. In compliance with Revenue Regulations V-20, we are stating that we are not related by consanguinity or affinity with the President, Directors or any member of the Institution.

LOPE LARANJO BATO & Co.

By: LOPE L. BATO, JR. Partner

CPA Cert. No. 73964 TIN 102-081-516 BIR Accreditation No. 16-006925-001-2017, Valid until August 29, 2020 SEC Accreditation No. 1676-A, Valid until April 5, 2021

PTR No. 4551741, January 2, 2020, Cagayan de Oro City

February 27, 2020 Cagayan de Oro City, Philippines

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STATEMENTS OF FINANCIAL CONDITION Bukidnon Community Cooperative

December 31 2019 2018

ASSETS

Current Assets

Cash (Note 4) P=107,325,726 P=122,529,260

Loans and receivables (Note 5) 163,442,803 154,345,434

Merchandise inventory (Note 6) 19,964,139 18,057,799

Other current assets (Note 7) 812,734 677,260

Total Current Assets 291,545,402 295,609,753

Non-Current Assets

Investment in equity securities (Note 8) 9,765,699 9,244,019

Property and equipment - net (Note 9) 19,035,366 7,387,710

Total Non-current Assets 28,801,065 16,631,729

P=320,346,467 P=312,241,482

LIABILITIES AND MEMBERS' EQUITY

Current Liabilities

Savings deposits (Note 11) P=106,978,093 P=114,732,836

Trade and other payables (Note 12) 9,810,976 5,673,644

Interest on share capital and patronage refund (Note 16) 21,552,296 21,472,184

Due to unions and federations (CETF) (Note 13) 5,461,619 5,113,614

Income tax payable (Note 14) 53,947 49,493

Total Current Liabilities 143,856,933 147,041,771

Non-Current Liability

Retirement benefits obligation (Note 14) 2,802,848 3,928,086

Members' Equity

Share capital (Note 15) 130,402,117 123,332,960

Statutory reserve 43,284,569 37,938,665

173,686,686 161,271,625

P=320,346,467 P=312,241,482

See Notes to Financial Statements.

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STATEMENTS OF OPERATIONS

Bukidnon Community Cooperative

Years Ended December 31 2019 2018

REVENUES

Credit Operations

Interest on loans (Note 17) P=26,653,177 P=24,695,144

Service/Processing fee (Note 17) 2,505,725 2,671,430

Interest on bank deposits and investments (Note 17) 1,342,907 1,059,040

Total 30,501,809 28,425,614

Less: Direct Expenses

Interest expense (Note 18) 2,211,898 2,086,747

Provision for impairment losses (Note 10) 500,000 500,000

Net Interest Income 27,789,911 25,838,867

Consumer Operations

Sales (Note 19) 147,449,315 134,610,564

Cost of sales (Note 20) 129,735,517 116,180,318

Gross profit on sales 17,713,798 18,430,246

OTHER INCOME (Note 21 ) 4,594,154 4,622,180

PROFIT BEFORE OPERATING EXPENSES 50,097,863 48,891,293

OPERATING EXPENSES

Compensation and employees' benefits (Note 22) 11,332,004 10,709,570

Security services 1,223,299 1,553,783

Light, power and water 1,157,168 1,232,679

Depreciation (Note 9) 829,409 958,043

Retirement benefits (Note 14) 887,000 887,000

SSS, Philhealth and Pag-ibig contributions 992,431 869,739

Directors’ fee 404,875 335,555

Other operating expenses (Note 23) 4,089,183 3,278,966

20,915,369 19,825,335

PROFIT BEOFRE INCOME TAX 29,182,494 29,065,958

INCOME TAX (Note 24) 57,769 49,493

NET SURPLUS (Note 16) P=29,124,725 P=29,016,465

Distribution of Net Surplus:

General reserve fund P=2,912,472 P=2,901,646

Optional fund 2,038,731 2,031,153

Cooperative education and training fund (CETF) local 873,742 870,494

Cooperative education and training fund (CETF) Apex 873,742 870,494

Community development fund 873,742 870,494

Interest on share capital and patronage refund 21,552,296 21,472,184

P=29,124,725 P=29,016,465


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STATEMENTS OF CASH FLOWS



CASH FLOWS FROM OPERATING ACTIVITIES

Net profit before distribution P=29,124,725 P=29,016,466

Adjustments for:

Depreciation (Note 9) 829,409 958,043

Provision for retirement benefits (Note 14) 887,000 887,000

Provision for impairment losses (Note 10) 500,000 500,000

Changes in operating resources and liabilities:

Increase in loans and receivable (Note 5) (9,597,370) (18,092,363)

Increase in merchandise inventory (Note 6) (1,906,340) (2,975,612)

Increase in other current assets (Note 7) (135,474) (51,998)

(Decrease) increase in savings deposits (Note 11) (7,754,744) 13,619,628

Increase in trade and other payables (Note 12) 3,691,710 311,470

Decrease in retirement benefits obligation (Note 14) (2,012,238) (5,162,620)

Increase in income tax payable 4,455 49,493

Net Cash Provided by Operating Activities 13,631,133 19,059,507

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of property and equipment (Note 9) (12,477,065) (879,298)

(Increase) decrease in investments in equity securities (Note 8) (521,680) 818,323

Net Cash Used in Investing Activities (12,998,745) (60,975)

CASH FLOWS FROM FINANCING ACTIVITIES

Net decrease in statutory reserves (22,905,079) (23,311,209)

Increase in share capital (Note 15) 7,069,156 8,859,335

Net Cash Used Financing Activities (15,835,923) (14,451,874)

NET (DECREASE) INCREASE IN CASH (15,203,535) 4,546,658

OPENING CASH 122,529,260 117,982,602

CLOSING CASH P=107,325,725 P=122,529,260


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STATEMENTS OF CHANGES IN EQUITY


December 31 2019 2018

SHARE CAPITAL (Note 15)

Balance at beginning of year P=123,332,960 P=114,473,625

Additional paid-up capital 7,069,157 8,859,335

130,402,117 123,332,960

STATUTORY RESERVES

General Reserve Fund

Balance at beginning of year 15,214,858 12,313,212

Distribution from net surplus (Note 16) 2,912,472 2,901,646

18,127,330 15,214,858

Education and Training Fund (Local)


Distribution from net surplus (Note 16) 873,742 870,494

Disbursement during the year (438,776) (333,262)

3,755,191 3,320,225

Optional Fund


Distribution from net surplus (Note 16) 2,038,731 2,031,153

Disbursements during the year (514,836) (726,570)

17,766,453 16,242,558

Community Development Fund


Distribution from net surplus (Note 16) 873,742 870,494

Disbursements during the year (399,171) (779,192)

3,635,595 3,161,024

Total Statutory Reserves 43,284,569 37,938,665

P=173,686,686 P=161,271,625


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NOTES TO FINANCIAL STATEMENTS Bukidnon Community Cooperative

Note 1 Organization The Bukidnon Community Cooperative is the surviving entity when the two (2) cooperatives, namely, Bukidnon Community Cooperative (BCC) and Community Credit Cooperative of Bukidnon (CCCB) were merged by its board of directors and members and was approved by the Cooperative Development Authority (CDA) on September 21, 2007 and registered with the Bureau of Internal Revenue with Taxpayer Identification Number 000-273-385. Both cooperatives were originally organized on February 27, 1976, under Presidential Decree No. 175 and are duly registered with the CDA, pursuant to Republic Act (R.A.) No. 6938 as amended by Republic Act (R.A.) No. 9520. Tax Exemption As a CDA-registered cooperative dealing/transacting business with members only, it is exempt from paying the following taxes: (a) Income tax on income from operations; (b) Value-Added Tax (VAT) under Section 109 pars. ©, (s), (t) and (u) of the Tax Code of 1997; (c) Three percent (3%) Percentage Tax under Section 116 of the Tax Code of 1997; (d) Donor’s tax on donations to duly accredited charitable, research and educational institutions, and reinvestment to socio-economic projects within the area of operation of the cooperative; (e) Excise tax under Title VI of the Tax Code of 1997; (f) Documentary Stamp Tax imposed under Title VII of the Tax Code of 1997, provided, however, that the other party of the taxable document/transaction who is not exempt shall be the one directly liable for the tax; and (g) Annual Registration Fee of P=500 under Section 236(B) of the Tax Code of 1997. Approval of Financial Statements The Cooperative’s financial statements for the year ended December 31, 2019 were authorized for issue by the Board of Directors on February 27, 2020.

Note 2 Summary of Significant Accounting Policies These financial statements were prepared by the Cooperative in accordance with Philippine Financial Reporting Framework for Cooperatives issued by the Cooperative Development Authority (CDA) in its Memorandum Circular (MC) No. 2015-06 dated September 16, 2015 and Revised Standard Chart of Accounts per CDA-MC No. 06-2016 dated November 24, 2016. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to the years presented, unless otherwise stated. Basis of Preparation The accompanying financial statements have been prepared in accordance with Philippine Financial Reporting Framework for Cooperatives under historical cost conventions. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The financial statements are presented in Philippine peso, which is the Cooperative’s functional and presentation currency and all values are recorded to the nearest peso, except when otherwise indicated. The preparation of financial statements in conformity with PFRF for Cooperatives requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 3.

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Statement of Compliance The financial statements have been prepared in accordance with Philippine Financial Reporting Framework for Cooperatives, except for the recognition of interest income which is not based on the effective interest method. Cash Cash and cash equivalents comprise cash on hand and in banks, time deposits and short-term investments with maturities of less than three months, which are subject to insignificant risk of change in value. These are carried in the books at face value.

Loans Receivables Loans receivables represent the amounts granted to members with interest charged at the prevailing lending rate approved by the Cooperative’s Board of Directors. These are carried at their original amounts less provisions made for impairment losses. At the end of each reporting period, the carrying amounts of loans receivable are reviewed to determine whether there is any objective evidence of impairment. If objective evidence of impairment is found, an impairment test is performed and, if impaired, an impairment loss is recognized immediately in operations with a corresponding decrease in the carrying amount of loan receivables. Merchandise Inventory Inventories consisting of merchandise inventories for sale are stated at the lower of cost and net realizable value using the moving average method. Property and equipment Office furniture and equipment are carried at cost less accumulated depreciation. Historical cost includes expenditures that are directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The cost of major renovations is included in the carrying amount of the asset when it is probable that future economic benefits arising from the renovations will flow to the organization. Depreciation is computed using the straight-line method over the estimated five (5) years of useful lives of the assets. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, if there is an indication of a significant change since the last reporting date. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in operations for the period. Investments in Equity Securities These represent investments in ordinary shares of cooperatives, federations and organizations which are not more than 20% of their total equity. The Cooperative intends to hold on to the investments for a longer period of time. These investments are recognized initially at cost plus transaction costs and subsequently carried at amortized cost. The Cooperative accounts the financial instruments in accordance with the provisions of MC-2015-06. In the current reporting period and for the comparative period presented, all of the Cooperative’s financial assets satisfied the criteria to be accounted for in accordance with Chapter X Sections 4 and 5. When first recognized, the investments are measured at their transaction price, after which, the instruments are recognized in an amortized cost model. At the end of each reporting period, an assessment is made of whether there is objective evidence of impairment, at which case an impairment loss is recognized in profit or loss immediately. If, in a subsequent period, the amount of an impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed. However, the reversal must not result in the financial asset having a revised carrying amount that exceeds what the carrying amount would have been had the impairment not previously been recognized.

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Impairment of Non-Financial Assets Assets that are subject to depreciation or amortization are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows. Non-financial assets other than goodwill that suffered impairment are reviewed for possible reversal of the impairment at each reporting date. Deposit Liabilities Deposit liabilities include interest-bearing savings and time deposits from the Cooperative members which are measured at amortized cost using the effective interest rate method. The liabilities are recognized when the Cooperative becomes a party to the contractual agreements of the instrument. All interest and related charges are recognized as an expense in the income statement under the caption “Interest Expense”. Trade and Other Payables Trade and other payables are recognized initially at the transaction price and subsequently measured at amortized cost using the effective interest method. It includes trade payables interest and patronage refund payable to members. These liabilities are derecognized from the statement of financial position only when the obligations are extinguished either through discharge, cancellation or expiration. Share Capital Share capital is determined using the nominal value of shares that have been issued. The following constitute the prohibitions regarding share ownership in the Cooperative as embodied in its Articles of Cooperation and By-Laws:

º A regular member is required to subscribe at least fifty (50) common shares and pay the value of at least five (5) shares upon approval of his membership. This minimum subscription entitles the member to full rights and privileges of a member. A regular member cannot own more than 20% of the total subscribed share capital of the Cooperative.

º An associate member is required to subscribe at least seventy five (75) preferred shares and

pay the value of at least ten (10) shares upon approval of his membership. An associate member is one who has no right to vote and be voted upon; has preference in the payment of interest on share capital and in the distribution of the net assets of the Cooperative in case of liquidation. An associate member cannot own more than 20% of the total subscribed share capital of the Cooperative.

Revenue and Cost Recognition Revenue is recognized to the extent that it is probable that economic benefits will flow to the Cooperative and the revenue can be reasonably measured. The following specific criteria are also met in recognizing revenue:

(a) The Cooperative recognized interest as earned based on diminishing balance of the loan, which is already the effective interest method.

(b) Donations received from various donors and benefactors, if any, are valued at fair market value at the time the donations are received.

(c) Interest income from bank deposits and investments is recognized when the right of the

Cooperative to receive payments is established.

(d) Revenue from other sources is recognized on the accrual method.

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Cost and expenses are recognized in the income statement upon utilization of the service or at the date they are incurred. Statutory Funds Transaction Expenses paid for by funds from the Statutory Funds accounts are recorded in the books as expenses in the period these are incurred with corresponding credits to Subsidy account. Distribution of Net Surplus The Cooperative distributes its net surplus in the following manner: (1) 10% of the net surplus shall be allocated to the Reserve Fund; (2) 6% of the net profit shall be allocated for the Cooperative Education and Training Fund (CETF); (3) 7% of the net profit shall be allocated to an Optional Fund for Land and Building; (4) 3% Community Development Fund, and (5) the remaining net profit shall be made available to the members in the form of patronage refund and interest on share capital not to exceed the normal rate of return on investments prescribed by the CDA. Leases The Cooperative determines whether an arrangement is, or contains a lease based on the substance of the arrangements. It makes an assessment of whether the fulfillment of the arrangement is dependent on the use of specific asset or assets and the arrangement conveys the right to use the asset. Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to the statement of income on a straight-line basis over the period of the lease. The Cooperative enjoys free use of the land of Del Monte Philippines, Inc. where the cooperative’s leasehold are situated for free for an indefinite period hence no lease expenses is recognized in its books. For capitalized leasehold improvements, the Cooperative depreciates the assets over the estimated useful lives of the asset. Employees’ Benefits The Cooperative’s employees are provided with the following benefits:

º Retirement Benefits Obligation Retirement benefits are provided to employees through a defined benefit plan. A defined benefit plan is a retirement plan that defines an amount of retirement benefit an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and salary. The legal obligation for the benefits of the retirement plan remains with the Cooperative, even if plan assets for funding the defined benefit plan have been acquired. Plan assets may include assets specifically designated to a long-term benefit fund, as well as qualifying insurance policies. The Cooperative’s defined benefit retirement plan covers all regular employees and is only partially funded.

º Termination Benefits

Termination benefits are payable when employment is terminated by the Cooperative before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Cooperative recognizes termination benefits when it is demonstrably committed to either: (a) terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal; or (b) providing termination benefits as a result of an offer made to encourage voluntary redundancy. Benefits falling due more than 12 months after the reporting date are discounted to present value.

º Compensated Absences

Compensated absences are recognized for the number of paid leave days (including holiday entitlement) remaining at the balance sheet date. The amounts recognized are included in Trade and Other Payables account in the statement of financial condition at the undiscounted amount that the Cooperative expects to pay as a result of the unused entitlement.

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Provisions and Contingent Liabilities Provisions are recognized when present obligation will probably lead to an outflow of economic resources and they can be estimated reliably even if the timing or amount of the outflow may still be uncertain. A present obligation arises from the presence of a legal or constructive commitment that has resulted from past events. Provisions are measured at the estimated expenditure required to settle the present obligation, based on the most reliable evidence available at the balance sheet date, including the risks and uncertainties associated with the present obligation. Any reimbursement expected to be received in the course of settlement of the present obligation is recognized, if virtually certain as a separate asset, not exceeding the amount of related provision. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. In those cases where the possible outflow of the economic resources as a result of present obligation is considered improbable or remote, or the amount to be provided for cannot be measured reliably, no liability is recognized in the consolidated financial statements. Probable inflows of economic benefits that do not yet meet the recognition criteria of the asset are considered contingent assets, hence, are not recognized in the financial statements. Subsequent Events Post year-end events that provide additional information about the Cooperative’s position at the balance sheet date (adjusting events), are reflected in the financial statements. Post year-end events that are not adjusting events are disclosed in the notes to financial statements when material.

Note 3 Key Sources of Estimation Uncertainty and Judgments The Cooperative makes judgments and estimates that affect amounts reported in the financial statements and related notes. Judgments and estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may ultimately differ from these estimates. The critical accounting estimates and judgments having the most significant effect on the amounts recognized in the financial statements pertain to the provision for impairment of loans receivable. The basis for the amount of impairment is discussed in Note 10 to the financial statements.

Note 4 Cash This consists of:

December 31 2019 2018

Revolving fund P=96,500 P=93,500

Cash on hand 318,177 479,402

Cash in bank 99,451,108 104,086,723

Checks and other cash items 7,459,941 17,869,635

P=107,325,726

122,529,260.1

P=122,529,260 111112,865,297

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Breakdown of cash in bank is as follows:

December 31 2019 2018

Union Bank-Lapasan P=51,573,453 P=59,830,812

MASS-SPECC-TD 11,731,516 11,279,098

Security Bank 10,177,804 -

Union Bank-TD 7,336,088 4,213,139

Bank of the Philippine Island 2,978,800 6,624,704

Oro Integrated Cooperative-TD 2,381,299 1,295,211

United Coconut Planters Bank-TD 2,196,848 2,144,920

Bank of the Philippine Island-TD 2,053,987 2,037,400

Landbank of the Philippines-TD 1,506,000 -

Landbank of the Philippines-Puerto 1,455,082 -

Panabo Multipurpose Cooperative 1,347,547 1,252,599

Cebu CFI Community Cooperative 1,189,416 1,121,121

Mindanao Consolidated Cooperative Bank 1,058,428 1,019,037

Metrobank 1,000,100 -

Rural Bank of Balingasag 539,630 518,858

Katipunan Bank-TD 514,100 500,374

Union Bank- Shell 411,010 1,172,743

Postal Bank-Manolo - 11,076,707

Total Cash in bank P=99,451,108 P=104,086,723

Time deposits in Union Bank, United Coconut Planters Bank and Oro Integrated Cooperative are restricted to fund the General Reserve. Deposits in Security Bank, Bank of the Philippine Islands, Landbank of the Philippines, and investments in MASS-SPECC, Panabo Multipurpose Cooperative and Cebu CFI Cooperative are restricted for Building Fund. The Cooperative also set aside the funds in Metrobank for the Community Development Fund. Educational and Training Reserves are funded by the cash in Katipunan Bank and Mindanao Consolidated Cooperative Bank.

Note 5 Loans and Receivables This consists of:

December 31 2019 2018

Loans receivable – net P=144,781,704 P=140,362,243 Trade and other receivables-net 11,311,981 8,463,415

Due from Del Monte Philippines (Note 27) 7,349,118 5,519,776

P=163,442,803 P=154,345,434 114,475,058

-28- The loans receivables consist of the following:

December 31

2019 2018

Regular P=46,795,125 P=54,106,825 Instant 9,772,026 8,166,240 Equity 752,657 - Emergency 469,639 443,017 Educational 230,339 277,034 Other loans 94,728,394 84,835,603

Total 152,748,180 147,828,719 Allowance for impairment losses (Note 10) (7,966,476) (7,466,476)

P=144,781,704 P=140,362,243

The aging and past due ratio as of December 31, 2019 is as follows:

Type of Loan Current Past Due In litigation Total

Regular P=45,741,421 P=1,053,704 - P=46,795,125 Instant 9,610,718 161,308 - 9,772,026 Equity 752,657 - - 752,657 Emergency 370,480 99,159 - 469,639 Educational 204,638 25,701 - 230,339 Others 94,681,844 46,551 - 94,728,395

Total P=151,361,757 P=1,386,423 - P=152,748,180

99% 1% - 100%

These loans bear interest as follows: 18% for a period of 1 year, 19% for a period of 2 years, and 20% for a period of 3 years, diminishing interest rate method for every due date. The service charge for such loans is 1%, 2%, and 2.5% for one, two and three years, respectively. For Guaranteed loans, an interest rate 3% per month is applied collectible not later than 6 months. The loans were individually reviewed for indicators of impairment. The Cooperative determines its loan loss provisioning based on portfolio at risk (PAR) with a 30-day grace period. PAR is the amount of the loan portfolio with one day missed payment. The trade and other receivables consist of the following:

December 31 2019 2018

Trade receivables P=9,039,457 P=7,580,054 Officers and employees account 432,461 425,652 Others 402,543 268,863

Total 9,874,461 8,274,569 Less allowance for impairment losses (Note 10) (1,500,000) (1,500,000)

Net 8,374,461 6,774,569 Other receivables (see break-down below) 2,937,520 1,688,846

P=11,311,981 P=8,463,415

-29- The other receivables consist of the following:

December 31 2019 2018

Death-aid contribution P=1,299,069 P=1,170,125

Shell 787,166 -

Members 253,981 201,972

Space rental/ Electric bill 229,370 117,495

Rental 154,435 70,108

Philamcare premium 24,407 56,120

Coop supervisor housing 19,303 29,302

Hospital account 16,377 16,796

Coop uniform 9,770 13,679

SSS - 5,324

Others 143,642 7,925

P=2,937,520 P=1,688,846

Note 6 Merchandise Inventory This consists of (at cost):

December 31 2019 2018

Main store P=10,915,358 P=9,437,716

Tie-up/Dry goods 4,110,719 4,231,175

Gas station 2,436,741 1,513,419

Main bodega 1,947,659 2,188,796

Camp 14 218,191 203,646

JMC store 194,538 192,635

Camp 9 134,831 252,425

Convenience 95,749 94,692

Rolling store 89,345 122,287

Total 20,143,131 18,236,791 Allowance for impairment of inventories (Note 10) (178,992) (178,992)

P=19,964,139 P=18,057,799

Note 7 Other Current Assets This consists of:

December 31 2019 2018

Unused office supplies P=427,943 P=347,203 Recoverable deposits 179,428 164,077 Prepaid Insurance 145,528 163,927 Other prepaid expenses and crop production 59,835 2,053

P=812,734 P=677,260

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Note 8 Investment in Equity Securities This consists of:

December 31 2019 2018

Retirement fund P=3,114,988 P=4,095,997

CISP (MABS) 1,421,277 1,421,277

CLIMBS LIFE & GEN. INS. CO. 1,388,983 666,793

FWD Insurance 1,050,000 700,000

Prulife Insurance 1,050,000 700,000

Manulife Insurance 900,000 500,000

MASS-SPECC Cooperative Development Center 484,891 457,879

Memorial Services CF 260,000 260,000

Philippine Assurance Cooperative 107,309 103,822

Mindanao Consolidated Cooperative Bank 106,000 184,000

CLIMBS CIMAC 100,000 450,000

Mindanao Marketing Federation of Cooperative 25,000 25,000

Allowance for impairment (Note 10) (242,749) (320,749)

P=9,765,699 P=9,244,019

The retirement fund represents investments in PhilAm Asset Management, Inc., PhilAm Life Growth Invest and the Union Bank of the Philippines of both the consumer and credit divisions P=2,354,971 and P=760,017, respectively, that are invested in bonds measured at fair value. Other investments are investments in ordinary shares in the various cooperatives and organizations which are accounted in the books at amortized cost, being less than 20% of the investees’ total equity.

Note 9 Property and Equipment The property and equipment, which are stated at cost, consists of the following:

December 31 2019 2018

Land and improvements P=2,681,745 P=2,522,230

Building and improvements 13,243,430 13,066,626 Store equipment 8,013,019 7,804,728

Office furniture and equipment 3,184,932 3,088,693

Transportation equipment 2,886,443 2,742,643 Computerization cost 1,429,349 1,429,349 Construction in progress 12,059,000 -

Total 43,497,918 30,654,269

Accumulated depreciation (24,462,552) (23,266,559)

P=19,035,366 P=7,387,710

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The reconciliation of the carrying amount of property and equipment follows:

December 31, 2019 Beg. Balance Additions Retirements End Balance

Cost

Land and improvements P=2,522,230 P=159,515 - P=2,681,745

Building and improvements 13,066,626 176,804 - 13,243,430

Store equipment 7,804,728 208,291 - 8,013,019

Office furniture and equipment 3,088,693 96,239 - 3,184,932

Transportation equipment 2,742,643 143,800 - 2,886,443

Computerization cost 1,429,349 - - 1,429,349

Construction in progress - 12,059,000 - 12,059,000

30,654,269 12,843,649 - 43,497,918

Accumulated Depreciation

Land and improvements 253,273 - - 253,273


Store equipment 5,672,186 402,227 - 6,074,413



Computerization cost 1,130,989 148,068 - 1,279,057

23,266,559 1,195,993 - 24,462,552

Net Book Value P=7,387,710 P=11,647,656 - P=19,035,366

December 31, 2018 Beg. Balance Additions Retirements End. Balance

Cost

Land and improvements P=2,039,189 P=483,041 - P=2,522,230


Store equipment 7,497,497 307,231 - 7,804,728



Computerization cost 1,429,349 - - 1,429,349

29,519,741 1,134,528 - 30,654,269

Accumulated Depreciation

Land and improvements 253,273 - - 253,273


Store equipment 5,243,802 428,384 - 5,672,186



Computerization cost 982,921 148,068 - 1,130,989

22,053,286 1,213,273 - 23,266,559

Net Book Value P=7,466,455 (P=78,745) - P=7,387,710

In 2019 and 2018, a portion of the depreciation amounting to P=366,584 and P=255,230, respectively, were subsidized by the Land and Building Fund.

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Note 10 Allowance for Impairment Losses The movements of the allowance for impairment losses during the year are as follows:

December 31 Loans

Receivables Trade

Receivables Inventory

Investments Total

Balance at beginning, 2018 P=6,966,476 P=1,500,000 P=180,326 P=420,749 P=9,067,551

Provision for the year 500,000 - - - 500,000

Adjustment - - (1,334) (100,000) (101,334)

Balance at beginning, 2019 7,466,476 1,500,000 178,992 320,749 9,466,217

Provision for the year 500,000 - - - 500,000

Adjustment - - - (78,000) (78,000)

Balance at ending, 2019 P=7,966,476 P=1,500,000 P=178,992 P=242,749 P=9,888,217

The provisions for impairment losses for loans receivables for the current year are charged against current operation presented as part of other operating expenses. The adjustment in the allowance for impairment of investments is due to the decrease in the investments in securities.

Note 11 Savings Deposits Savings deposits consist of:

December 31 2019 2018

Regular P=106,632,579 P=114,266,195

Non-regular 221,307 330,599

Kiddie 34,367 41,264

Mortuary 89,840 94,778

P=106,978,093 P=114,732,836

The Cooperative pays annual fixed interest of 2.0% on savings deposits.

Note 12 Trade and Other Payables This consists of:

December 31 2019 2018

Accounts payable – suppliers P=7,848,530 P=4,838,701

Accrued expenses payable 1,536,304 563,906

Output tax 250,375 150,096Deposits for cable subscription 71,357 62,050

Death aid beneficiary 104,410 58,891

P=9,810,976 P=5,673,644

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The accounts payable death aid beneficiary represents the amounts unclaimed by the surviving beneficiaries of the members who died during the year. The amount to be received by the beneficiaries is based on the number of members as of that month multiplied by P=10 per member.

Note 13 Due to Unions and Federations (CETF)

December 31 2019 2018

Due to CUP P=3,918,558 P=3,477,773

Due to RCU 1,032,238 1,017,333

Due to BUC 510,823 618,508

P=5,461,619 P=5,113,614

The breakdown of due to CETF (Apex) follows:

December 31 2019 2018

Balance at beginning P=5,113,614 P=5,079,536

Distribution of net profit (Note 15) 873,742 870,494

Disbursements/reclassification (525,737) (836,416)

P=5,461,619 P=5,113,614

Note 14 Retirement Benefits Obligation This represents the retirement benefit obligations of the Cooperative to its existing regular employees computed in accordance with Section 28 Employee Benefits, and is accounted as follows:

December 31 2019 2018

Balance at the beginning of the year P=3,928,086 P=8,203,706

Retirement benefits expense 887,000 887,000

Retirement benefits paid during the year (2,012,238) (5,162,620)

P=2,802,848 P=3,928,086

The Cooperatives’ computation of retirement benefits obligation of regular employees is 82% of their basic monthly salary multiplied by the number of years in service. The Cooperative assigned investments in PhilAm Asset Management, Inc., PhilAm Life Growth Invest and CLIMBS with the total investment cost of P=4,503,972 in 2019 and P=4,095,997 in 2018 (See Note 8) as reserved funds for the payment of retirement benefits. The plan provides lump-sum benefits to members who will reach the age of sixty (60).

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Note 15 Share Capital

December 31 2019 2018

Capital stock P=200 par value

Authorized - 725,000 common shares

and 25,000 preferred shares

Subscribed – 650,826 in 2019 and 613,956 in 2018 Common shares P=130,165,200 P=122,791,200

Deposit for stock subscriptions 236,917 541,760

Total 130,402,117 123,332,960

Statutory reserves 43,284,569 37,938,665

P=173,686,686 P=161,271,625

The authorized capital stock of the surviving cooperative has been increased from Seventy Million Pesos (P=70,000,000) to One Hundred Fifty Million Pesos (P=150,000,000) divided into Seven Hundred Twenty Five Thousand (725,000) common shares and Twenty Five Thousand (25,000) preferred shares both with par value of Two Hundred Pesos (P=200). The increase in the authorized capital stock, which is an amendment to Article IX-Capitalization, of the articles of cooperation of the surviving cooperative, has been approved by the CDA on July 12, 2012. Under the Cooperative’s Amended Articles of Cooperation and By-laws, the Cooperative membership is classified as regular and associate. An applicant for regular member shall subscribed at least fifty (50) common shares and pay the value of at least five (5) shares upon approval of his membership. A regular member is entitled to all rights and privileges of membership. An applicant for associate member shall subscribe at least seventy five (75) preferred shares and pay the value of at least ten (10) shares upon approval of his membership. An associate member is one who has no right to vote and be voted upon; has preference in the payment of interest on share capital and in the distribution of the net assets of the Cooperative in case of liquidation. However, no regular or associate member shall own or hold more than 20 percent of the total subscribed share capital of the Cooperative.

Note 16 Distribution of Net Profit Under the Cooperative’s By-laws and as provided for under Chapter X of R.A. No. 6938 as amended by R.A. 9520, the net income of the Cooperative shall be allocated, as follows:


General reserve fund P=2,912,472 P=2,901,647

Optional fund 2,038,731 2,031,153

Cooperative education and training fund (CETF) local 873,742 870,494

Cooperative education and training fund (CETF) Apex 873,742 870,494

Community development fund 873,742 870,494

Interest on share capital and patronage refund 21,552,296 21,472,184

P=29,124,725 P=29,016,466

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Reconciliation of interest on share capital and patronage refund:


Balance at beginning of year P=21,472,184 P=17,782,166

Dividend and patronage refund given to members (21,472,184) (17,782,166)

Distribution of net profit 21,552,297 21,472,184

P=21,552,297 P=21,472,184

a) Six percent (6%) of the yearly net income is set-aside for the Cooperative Education and

Training Fund (CETF). One half of this amount, which is to be utilized by the Cooperative for the education and training of its officers and members, is presented as part of the reserves account. The other half, which is to be remitted to certain cooperative apex organizations, is presented under “Due to Unions and Federations (CETF) account; and

b) Then 10% of the yearly net surplus is set-aside for the General Reserve Fund (GRF),

c) 7% for the Optional Fund and another,

d) 3% for the Community Development Fund.

After providing for the above reserves, the remaining net income shall be allocated between interest on share capital and patronage refund. Interest is distributed among the members based on their average paid-up capital but shall not be less than the inflation rate. Patronage refund is granted to members in proportion to their patronage (loans and purchases) to the Cooperative.

Note 17 Interest Income This consists of:


Interest income on:

Regular loans P=8,904,976 P=10,740,147

Retirable loans 2,007,593 2,397,188

Instant loans 1,548,884 1,385,193

Guaranteed loans 737,653 885,513

Vehicle loans 355,997 421,715

Emergency loans 28,123 42,433

Educational loans 9,992 17,458

Tie-up/Other loans 13,059,959 8,805,497

Total 26,653,177 24,695,144

Service/ processing fees 2,505,725 2,671,430

Interest on bank deposits and investments 1,342,907 1,059,040

P=30,501,809 P=28,425,614

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Note 18 Interest

This consists of:

Years Ended December 31 2019

2018

Interest on savings deposit

P=2,211,898

P=2,086,747

Provision for credit losses (Note 10)

500,000

500,000

P=2,711,898

P=2,586,747

Note 19 Sales

Sales made by the Cooperative’s stores are the following:

Years Ended December 31

2019

2018

Cash sales

P=109,906,426

P=107,900,898

Credit sales 37,542,889

26,709,666

P=147,449,315

P=134,610,564

Note 20 Cost of Sales

This account consists of:


2018

Merchandise inventory at beginning of year P=18,057,799

P=15,082,188

Purchases during the year – net 131,641,857

119,155,929

Total goods available for sale 149,699,656

134,238,117

Less merchandise inventory at end of year (Note 6)

19,964,139

18,057,799

P=129,735,517

P=116,180,318

Note 21 Other Income



2018

Rental P=1,128,641

P=1,078,733

Risograph 1,054,930

905,033

Servicing – shell and superferry 509,571

571,385

Commission 48,005

211,000

Recovery from charged off account

97,106

82,075

U-Bix 35,587 73,635

Membership 25,200 19,075

Miscellaneous 1,695,114 1,681,244

=P4,594,154 P=4,622,180

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Note 22 Compensation and Employees’ Benefits

Salaries, wages and employees’ benefits consist of the following:

Years Ended December 31

2019

2018

Salaries and wages

P=9,389,678

P=8,900,332

Employees’ benefits and 13th

month pay

1,942,326

1,809,238

P=11,332,004

P=10,709,570

Note 23 Other Operating Expenses



2018

Store and office supplies P=617,015

P=382,551

Mortuary aid 520,000

555,000

Travel and transportation 376,160

289,152

General assembly 316,992

311,528

Insurance 306,211

259,663

Professional fees 264,461

265,747

Communications 107,878

57,461

Taxes and licenses (Note 27)

96,893

131,121

Repairs and maintenance 92,878

77,124

Janitorial 80,187

146,632

Board and committee meetings 70,304

66,253

Elections 50,183

50,788

Donations 2,000

1,750

Miscellaneous 1,188,021

684,196

P=4,089,183

P=3,278,966

Breakdown of miscellaneous expenses for 2019 and 2018 are the following:


2018

Risograph P=1,037,203

P=623,486

U-bix expense

116,159

37,727

Photocopying 6,667

11,684

Others 27,992

11,299

Total P=1,188,021

P=684,196

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Note 24 Income Tax Expense Republic Act No. 9337, An Act Amending National Internal Revenue Code, provides that the rate starting January 1, 2009 shall be 30%. The Cooperative has no taxable temporary difference and deductible temporary difference that give rise either to a deferred tax asset or to deferred tax liability.

Year Ended December 31 2019 2018

Gross profit P=1,719,195 P=778,913 Operating expenses 1,526,632 613,937

Taxable income 192,563 164,976

Tax rate 30% 30%

Normal income tax 57,768 49,493

Creditable withholding taxes 3,821 -

Income tax payable P=53,947 P=49,493

The pro-rated operating expense is derived by dividing the taxable sales by the total sales amounting to P=14,310,549 and P=147,449,315, respectively, and multiplied by the operating expense of the Consumer Department amounting to P=15,729,721. The computation of MCIT is as follows:

Year Ended December 31 2019 2018

Revenue- sales from non-members P=14,310,549 P=5,689,011 Direct Cost 12,591,354 4,910,098

Gross profit 1,719,195 778,913 Tax rate 2% 2%

Minimum Corporate Income Tax P=34,384 P=15,578

The pro-rated direct cost is derived by dividing the taxable sales by the total sales and multiplied by the total cost of goods sold amounting to P=129,735,518.

Note 25 Events after Reporting Date There were no events after balance sheet date that would require disclosures or adjustments on the financial statements of the Cooperative.

Note 26 Adjustments and Reclassification Certain amounts and figures in December 31, 2018 financial statements had been reclassified to conform to the presentation of the of the Cooperative’s 2019 financial statements.

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Note 27 Related Party Disclosure The cooperative, in its regular conduct of business, has transactions with Del Monte Philippines, Inc. (DMPI). These transactions principally consist of the following: a) Buys goods for sale from DMPI at discounted prices; b) Sells consumer goods under normal credit terms at prevailing market prices to members who are

mostly employees of DMPI;

c) Uses the land leased by DMPI where the cooperative’s leasehold improvements are situated for free while nominal rental fees are charged for the other stores of the cooperative located in various camps; and

d) Obtains the services of DMPI to account and process the members’ check-off list without charge.

Note 28 Supplementary Information Required by Revenue Regulations (RR) No. 15-2010 On December 28, 2010, RR No. 15-2010 became effective and amended certain provisions of RR No. 21-2002 prescribing the manner of compliance with any documentary and/or procedural requirements in connection with the preparation and submission of financial statements and income tax returns. Section 2 of RR No. 21-2002 was further amended to include in the Notes to Financial Statements information on taxes, duties and license fees paid or accrued during the year in addition to what is mandated by PFRF for Cooperatives. Below is the additional information required by RR No. 15-2010. This information is presented for purposes of filing with the Bureau of Internal Revenue (BIR) and is not a required part of the basic financial statements. The taxes and licenses consist of:


BIR annual registration and business permit P=46,552 P=60,225 Real estate tax 40,553 59,331

Expired portion of NFA license renewal 3,361 6,017

Vehicle registration 6,427 5,548

P=96,893 P=131,121

Other taxes and license fees paid for the period follows:

Year Ended December 31, 2019 Tax base Amount paid

Compensation P=11,332,004 - Expanded (security services, professional fees and directors’ fees) 104,248,473 P=1,087,945

P=115,580,477 P=1,087,945

BUKIDNON COMMUNITY COOPERATIVEPROPOSED BUDGET FOR CY2020

STATEMENT OF PROFIT OR LOSS 2020 2019YEAR ENDED DECEMBER 31 BUDGET ACTUAL VARIANCE %REVENUESCREDIT OPERATIONS

INTEREST ON LOANS 28,611,342 26,653,177 1,958,165 7.35%SERVICE FEE/PROCESSING FEE 2,859,500 2,505,725 353,775 14.12%INTEREST ON BANK DEPOSITS & INVESTMENTS1,712,000 1,342,907 369,093 27.48%

TOTAL 33,182,842 30,501,809 2,681,033 8.79%LESS: DIRECT EXPENSES

INTEREST EXPENSE ON SAVINGS DEPOSITS 2,400,000 2,211,898 188,102 8.50%PROVISION FOR CREDIT LOSSES 500,000 500,000 - 0.00%

NET INTEREST INCOME 30,282,842 27,789,911 2,492,931 8.97%

CONSUMER OPERATIONSSALES 153,283,887 147,449,315 5,834,571 3.96%COST OF SALES 133,868,376 129,735,518 4,132,858 3.19%

GROSS PROFIT ON SALES 19,415,511 17,713,798 1,701,713 9.61%

OTHER INCOME 7,377,216 4,594,154 2,783,062 60.58%

PROFIT BEFORE OPERATING EXPENSES 57,075,569 50,097,863 6,977,706 3.97%

OPERATING EXPENSESSALARIES,WAGES AND EMPLOYEES' BENEFITS 12,251,494 11,332,004 919,490 8.11%SECURITY SERVICES 1,293,000 1,223,299 69,701 5.70%LIGHT, POWER AND WATER 1,297,735 1,257,168 40,567 3.23%DEPRECIATION 2,159,454 829,409 1,330,045 160.36%RETIREMENT BENEFITS 1,000,000 887,000 113,000 12.74%SSS, PHIC AND PAGIBIG CONT. 1,100,593 992,431 108,162 10.90%OTHER OPERATING EXPENSES 4,211,601 4,375,262 (163,661) -3.74%

TOTAL 23,313,876 20,896,573 2,417,303 11.57%

PROFIT BEFORE INCOME TAX 33,761,693 29,201,290 4,560,403 15.62%SUBSIDY-BUILDING FUND 575,000 - 575,000 #DIV/0!INCOME TAX 65,000 57,769 7,231 12.52%

NET SURPLUS 34,271,693 29,143,521 5,128,172 17.60%

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MINUTES OF THE 11TH GENERAL ASSEMBLY OF THE BUKIDNON COMMUNITY COOPERATIVE (BCC) HELD AT SUMILAO BUKIDNON ON MARCH 13, 2019 TEMA: “Mga Pagsulay na Masagubang, Mogaan ug Sayon Lamposon kung Kooperatiba ang Gisandigan” OFFICERS: GUEST/STAFF 1. Henry S. Dedumo 8. Garry T. Navarosa 13. Ginalou T. Cahatian 2. Archie A. Apal 9. Eduardo Y. Valiente 14. Jackie Lou Y. Gamana 3. Johnny A. Aquilino 10. Aileen Rose M. Abella 15. Jigger Ladra 4. Exor D. Dablo 11. Ma. Gina A. Sumihay 16. Marberto P. Lucino 5. Gerwin C. Donasco 12. Jose Franco B. Taclindo 17. Pitxy L. Nalitan 6. William T. Doydora 18. Liezel A. Tequillo 7. Aiza G. Luna 19. Delton M. Yecyec 20. Norbert Lumapac Master of Ceremonies: Mr. Garry Navarosa Time Started: 2:20 PM PART I – OPENING PROGRAMME 1. Registration and Election 2. Opening Prayer, National Anthem, & Cooperative Hymn – Thru BCC video 3. Cooperative Pledge – Recited led by Garry Navarosa 4. Welcome address –Mr. Archie A. Apal, West Supervisor delivered his welcome address as mentioned “ Maayong hapon sa tanan! Sa atong tinuig nga buluhaton sa atong kooperatiba BCC ato kini ginahimo ilabi na gyud karon na aduna kitay pagkadawaton nga mga dividendo. So, ato e welcome atong kaugalingon uban diha kaninyo ang atong mga kauban sa kooperatiba, welcome karong hapona. Uban kanato sab ang atong mga kauban sa duha ka cooperative uban atong vision ingon man sa tinuhan, sa atong chairman Sir Henry Dedumo uban nato karong adlawa, ang atong mga Board of Directors ug kauban nato sa Opisina, Welcome sa atong tinuig nga assembleya.” 5. Message - Norbert Lumapac, Sumilao Supervisor quoted “ Mayong udto sa tanan! To my fellow coop members sa sumilao, mayong udto. Then to the officers of BCC, headed by Sir Henry, Maayong Udto! We are celebrate the 11th BCC annual General assembly, celebrating kay nag celebrar ta sa mga maayo nahatag sa koop sa atoa ug sa maayo pang ihatag sa koop sa atoa. Gani ang atong Tema for this year General assembly ‘Mga Pagsulay na Masagubang, Mogaan ug Sayon Lamposon kung Kooperatiba ang Gisandigan.’ Tinood bani sa inyoha? Sa akoa personally makaingon jud ko tinood tungod kay daghan mga product sa kooperatiba nga ako pud napahimuslan. Pananglitan kung maghisgot ta sa produkto sa kooperatiba nga makahatag kanto ug financial assistance, pananglitan naa tay mga project sama sa mag invest ta ug yuta, sakyanan, o balay ba kaha aduna kitay mga loan packages nga makahatarong sa atoa ug mga emergency nga pangahitabo aduna tay emergency loan, naa poy mortuary-aid, nay daghan loan nga dako matabang sa atoa isip member sa BCC, ug ang atong gihulat unya ang distribution sa dividends nga dako pod ug matabang sa atoa. Sa atoa pong bahin unsay mahatag nato sa koop kay dli man matawag ang koop kung walay mga members. So sa atong bahin ang pagka ania karon is a support kung unsa ang atong gusto mahitabo sa atong kooperatiba. Ang success nagdepend una sa willing nato sa atong bahin mohatag ug competitive information ngadto sa koop kay ang koop moalign man dependi sa demand sa iyang

members kay ang success ani sa coop ang cooperation is base man o mohatag ang coop ug benepisyo ngadto sa mga myembro niya. Another thing also ang paghatag nato sa kooperatiba ug trust especially sa atong coop Organization, sa atong mga opisyales kung unsay mahatag natu sa ila. So, Makita nato dri as a member sa BCC kung unsa atong role dre nga ginaplay.ug karon nga hapon ma exercise nato na nga role ug ma update ta sa mga nahitabo last year ug sa mahitabo ug mga plano para karong tuiga. Kinahanglan nga inform ta ug kailangan pod ta mosuggest aron pod sa kalambuan in general sa atong Kooperatiba. Ug usbon ko Maayong Hapon sa Tanan ug Hopeful for a productive afternoon.” 6. Awards and Recognition – As announced by Mr. Garry Navarosa. Good Payors: Raffles

CREDIT DIVISION Sasuman, Monico 600.00

CONSUMER Valentin, Ian Dave 600.00

Early Birds: Raffles

Betanio, John 200.00

Amores, Norberto 200.00

Mancawan, Eze Daisy 200.00

PART II – BUSINESS SESSION Convention Chairman/Parliamentarian: Director Edgardo Y. Valiente 1. Call to Order: Director EYValiente briefed the assembly ground rules and declared this 11th General Assembly in order. He called the secretary of this GA for the proof of due notice and determination of quorum. 2. Proof of Due Notice and Determination of Qourum: Ms. Liezel Tequillo, secretary of BCC Annual General Assembly - “ Maayong hapon natong tanan! Ang atong ika 11th General Assembly nagpamatood sa pag advertise sa DEARBC cable ug pagposting sa mga Tarpaulin sa atong tagsa tagsa nga location. Dre sa Sumilao aduna kita nakolekta nga 37 attendees o sobra na sa 50 porcento from the total of 48 regular active members. So, Mr. Chair, I would like to declare this General Assembly in Quorum. Daghang Salamat.”

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3.Reading and Approval of 2018 10th General Assembly Minutes: Director EYValiente directed to read the Minutes of 2018 – 10th General Assembly.

� Mr. Amores, Norberto – moved to dispense the reading of the 2018 General Assembly.

� Mr. Sumanghid, Gaudencio – seconded the motion. � Director EYValiente – Since no Objection and

Clarification, the reading of 2018 GA minutes is hereby dispensed and he asked for action for the 2018 GA Minutes.

� Mr. Amores, Norberto – Moved to approved the 2018 GA Minutes

� Mr. Sumanghid, Gaudencio – seconded the motion. 4. Annual Reports A. BOD Report and Financial Report – Presented by BCC BOD Chairman Henry S. dedumo, on the souvenir program pages 3 – 4.

� Convention Chairman – asked the body for any question, objection and/ or clarification for The BOD Report and Financial Report as presented.

� Mr. Santome, Virgilio – Moved to approve the BOD and Financial Report as presented.

� Mr.Quimot-Quimot, Archie – seconded the motion. B. Allocation of Net Surplus - Ms. Ginalou T. Cahatian, General Manager of BCC, briefly discussed how the ratio on the net surplus distribution derived.

CREDIT CONSUMER

INTEREST ON SHARE CAPITAL 7.31 % 7.41%

PATRONAGE REFUND 41.53% 2.46%

C. Committee Reports - Convention Chairman asked the body to read the 2018 committee Report as stated in the souvenir program pages 5-10.

� Mr. Santome, Virgilio – Moved to dispensed all 2018 Committee Reports.

� Mr. Carbajal, Randy – Seconded the motion. No Objection/Clarification/Question. The reading of all committee Reports was dispensed.

� Convention chairman asked for action of 2018 Committee Reports

� Mr. Quimot Quimot, Archie – Moved to approve all 2018 Committee Reports.

� Mr. Mayantao, Moreno – seconded the motion. 5. Proposals and Amendments Mr. Gary Navarosa, Chairman of the proposals committee, reported the collected proposals, add on and primary Business of BCC as follows: PRIMARY Business: To engage in Retail Merchandising, Fuel

Distribution and Other Related Services, Savings and Loan to

Members, Farming/Agri-business, Trucking/Hauling and

Transport Services, Emission Testing, Drug Testing Center,

Lease of Cooperative Properties / Commercial Space, Ticketing

Services, Management and Consultancy Services, Entertainment

Services, Party Functions Services, Massage / SPA / Saloon

Services/Derma Care, Fitness Gym, Automotive Repair and

Servicing & Parts merchandizing .(Cars, Light Trucks,

Motorcycles and Carwash), Money Transfer Services,

Franchising(Food Chain), Rent A Car, Travel and Tour, Events

Planner and Promotion, Funeral Services, Bakery, Newspaper

distribution, Photocopying& Printing, Coffee Shop and

Convenience Store, Pawnshop, Poultry and Livestock Business,

Restaurant and Food Catering Services, Food Processing,

Tailoring Services, Tarpaulin & T-shirt Printing ,

Electronic/Gadgets Service Center , Housing Projects , Water

Refilling, Laundry Services and Dress Rental Services.

TO ADD: Hotel and Lodging, Legal LOTTO and STL Outlet, Foreign Currency Exchanging Services, Bayad Center Services Agricultural Research Laboratory Services, Medical Laboratory Testing Services, Vehicle Rental, Equipment Rental Services, Child Care Services, Agricultural Crop, Farming and Growership 6. 2019 proposed Budget

� Mr. Chairman asked the body for motion on the presentation of the 2019 proposed Budget.

� Mr. Nisnisan, Emilio – Moved to dispense the presentation of 2019 proposed budget.

� Mr. Carbajal, Randy – Seconded the motion. - No Objection. - The presentation of 2019 proposed budget was

dispensed. � The convention Chairman asked for an action of the

proposed budget for 2019. � Mr. Amores, Norberto – moved to approve the 2019

proposed Budget � Mr. Sumanghid, Gaudencio – Seconded the motion.

7. Declaration of Dividends � Mr. Henry Dedumo stated “To all the members of the

cooperative, by the power and virtue vested in me, as a Chairman of the Board of Directors of BCC, the 2019 Dividends are now declared for distribution.

8. Adjournment � Convention Chairman EYValiente declared adjournment

of the 2019 General Assembly. � Mr. Villara, dennis – Move to adjourn the 11th General

Assembly. � Mr. Quimot Quimot, Archie – seconded the motion.

No Objection. The 11th General Assembly was adjourned at 3:40PM. PART III – DISTRIBUTION OF NET SURPLUS Recorded by: Liezel A. Tequillo Secretary, BCC General Assembly 2019

- 43 -

MINUTES OF THE 11TH ANNUAL GENERAL ASSEMBLY OF THE BUKIDNON

COMMUNITY COOPERATIVE (BCC) HELD AT IMPASUG-ONG MARCH 13, 2019

THEME: “MGA PAGSULAY NA MASAGUBANG, MOGAAN UG SAYON LAMPOSON

KUNG KOOPERATIBA ANG GISANDIGAN”

BCC OFFICERS, STAFF and GUEST

1. RO Pizon 7. JB Adarne 13. JA Sicat

2. EG Martinez 8. AM Abarcas 14. BV Cabugao

3. FC Bañaga 9. BE Duites 15. WE Cahatian

4. BL Borja, Jr 10. DL Bautista 16. CC Penuela

5. AL Abrea 11. MP Binghay 17. TLO Ravidas

6. NLV Macoy 12.MB Españo 18. SA Reyes

MASTER OF CEREMONIES: Mr. Fredirico C. Bañaga Jr.

Chairman-Supervisory Audit & Inventory Committee

Time Started: 3:00 pm

Part I-Opening Program:

1. REGISTRATION & ELECTION

2. OPENING PRAYER-Thru Cooperative Video

3. NATIONAL ANTHEM- Thru Cooperative Video

4. The EMCEE, Mr. Frederico C. Bañaga Jr. introduced all BOD’s, Officers and

staffs attending the 11th BCC General Assembly to the members.

5. WELCOME ADDRESS: Mr. Benjamin L Borja, Jr. Board Member Delivered

his address as quoted: “Salamat, Maayong hapon sa tanan. Maghinaut lang

ta ko nga magpadayun ang atong tiunay nga pagtinabangay arun molambo

pa gyud ang atong kooperatiba. So for the last 10 years, kining paningkamot

nato tanan as membro sa kooperatiba ug isa sa tag-iya sa kooperatiba. Let

us hope and pray that we will reach the level of success. Nagpasabot nga

kita better than yesterday, better than today, and better than tomorrow. So

in behalf of the officers, tanan emplyado, again you are welcome and God

bless everyone.

6. MESSAGE: Mr. Ken Paul S. Hojas, OIC MANAGER Far East-Crop Production

Unit, delivered his message as mentioned. “Una sa tanan Maayong hapon

og salamat sa inyong presensya karon dinhi. Ako lang ma-share karun siguro

or mamensahe sa inyo ang importantasya sa atong kooperatiba. Ang

serbisyo sa koop pamaagi sa pahulam ug and pag-vale sa atong mga

tindahan. Maka patronize kita sa mga serbisyo, haum sa atong

panginahanglan. Kanang dividend gibahin na sya nato, kay kitang tanan

membro ta sa coop at the same time tag-iya ta sa coop. So unsay ginansya

sa tindahan, unsay ginansya sa loan nga atong gi-patronized mao atong

gabahinun sa dividend. Mobalik ra sa ato kung mo patronized lan gyud ta sa

atong kooperatiba. Pero wala pa masayud, ang kadaghanan lugar sa ato nga

ang cooperative diay nagtabang pud sa atong komunidad. So dili lang kay

ang mga membro mobinipisyo sa cooperative pati diay ang komunidad

noh?, dako diay ang tabang niya. Ang cooperative kay ga-venture og

negosyo, naka-create pud ta og job opportunity. So kay satisfied man ta

sao atong pakpakan ang atong mga officers, management and staff.

Og kita pud mga membro nga nagpatronized, hinaut magpadayun

ta og patronize arun mas mulambo pa gyud ang atong coop og

makatabang pud ta sa atong komunidad. So kato lang, daghan

salamat, og maayong hapon. 7. AWARDS AND RECOGNITION: Mr. Frederico C. Bañaga Jr.-

HIGHEST FIXED DEPOSITOR-CREDIT DIVISION

92065 Alba, Hitcliff V. 800.00

GOOD PAYORS: CREDIT: Raffles

CONSUMERS:

EARLY BIRDS-Raffles

Part II-Bussiness Session:

CONVENTION CHAIRMAN/PARLIAMENTARIAN- Director Eduardo G. Martinez

1. CALL TO ORDER- Dir. Eduardo G. Martinez, as convention Chairman, briefed

the assembly on the ground rules and declared this 10th Annual General

Assembly in order. Called on the secretary for the proof of due notice prior

to this assembly and the determination of quorum.

2. PROOF OF DUE NOTICE and DETERMINATION OF QUORUM:

LPTIGPOS BCC Secretary- “Maayong hapon sa tanan mga membro sa

kooperatiba karun atong ipahigayun atong 11th General Assembly. Ang proof

of notice pinaagi sa atong local cable network advertisement ug posting sa

atong mga tarpaulin diha sa matag lokasyon. Karun sa Impasug-ong aduna

kita’y 118 members, karun anaa nakita sa 69 o 59%. Therefore Mr.

Chairman, I declare this assembly now in quorum.

3. READING AND APPROVAL OF THE 2018 10TH ANNUAL GENERAL ASSEMBLY

MINUTES.

� Convention Chairman Eduardo G. MARTINEZ instructed the body to read

the 2018 11th Annual General Assembly minutes.

• Mr. Romano Aranas- I move to dispense the reading of the 2018 10th

General Assembly.

• Mr. Norberto Pinto-I second the motion. No objection. The reading of the

previous minutes was dispensed. The convention Chairman asked for

action of the 2018 10th Annual GA Minutes.

• Mr. Noe Gabaran moved to approve the 2018 GA meeting.

• Mr. Jay Gabaran seconded the motion.

4. 2018 Annual Reports

I. BOARD OF DIRECTORS 2018 REPORT: BOD Vice Chairman Mr. Rosjeb O.

Pizon presented as stated in pages 3 to 4 at the souvenir program.

The Convention Chairman Eduardo G. Martinez asked the body for any

question/clarification/objections as to the BOD report as presented.

• Ms. Ma. Luna Cimafranca moved to approve the Chairman of the Board’s

Report

• Mr. Joel Sumibog seconded the motion

II. ALLOCATION OF NET SURPLUS PRESENTATION: Operation Manager

Jacqueline A. Sicat, presented as stated in page 2 at the souvenir.

II. COMMITTEE REPORTS:

The convention Chairman asked the body to read the 2018 Committee Reports

as stated in pages 6-10 at the souvenir program.

• Mr. John Michael Oray moved to dispense the presentation of all committee

reports

• Mr. Rolito tapia seconded the motion. No objection The reading of the

committee reports was dispensed. The convention Chairman asked for

action of the 2018 Committee Reports.

• Ms. Alma Vivian Escalante moved to approve the 2018 Committee Reports.

• Mr. Lito Ayo-an seconded the motion.

5. AMENDMENTS AND PROPOSALS OF CY 2018:

• Hotel and Lodging

• Legal LOTTO and STL Outlet

• Foreign Currency Exchanging Services

• Bayad Center Services

• Agricultural Research Laboratory Services

• Medical Laboratory Testing Services

• Motorcycle Rental

• Heavy Equipment Provider-Rental Services

6. 2019 BUDGET PROPOSALS PRESENTATION:

The convention Chairman asked the body for a motion on the presentation of

the 2019 Propose Budget.

• Mr. Nandaeflor Mangga moved to dispense the presentation of the 2019

Propose Budget.

• Mr. Placido Belacho seconded the motion. No objection. The presentation

of the 2019 Propose Budget was dispensed. The convention Chairman asked

for action of the 2019 Propose Budget

• Mr. Angelito Dino moved to approve the presentation of the 2019 Propose

Budget.

• Mr. Nerio Salingoran seconded the motion.

7. DECLARATION OF DIVEIDENDS:

Convention Chairman Eduardo G. Martinez asked for the declaration of the

dividends.

• BOD Vice-Chairman Rosjeb O. Pizon by the power vested in me, as your

Vice-Chairman I now declared the 2019 Dividend to be distributed.

CREDIT CONSUMER

INTEREST ON SHARE CAPITAL 7.31% 7.41%


8. ADJOURNMENT:

III. DISTRIBUTION OF NET SURPLUS

Recorded by: LP Tigpos

22276 Quilab, Erma R. 600.00

92049 Akut, Alvin Rey G. 600.00

41605 Sumibog, Rene 200.00

22276 Quilab, Erma R. 200.00

21182 Mangga, Nandaeflor 200.00

- 44 -


COMMUNITY COOPERATIVE (BCC) HELD AT CAMP JMC MARCH 14, 2019




1. RO Pizon 7. JB Adarne 13. JA Sicat

2. EG Martinez 8. AM Abarcas 14. BV Cabugao

3. FC Bañaga 9.BE Duites 15. WE Cahatian

4. BL Borja, Jr 10. DL Bautista 16. CPenuela

5. AL Abrea 11.MP Binghay 17. TLO Ravidas

6. NLV Macoy 12.MB Españo 18. SA Reyes

MASTER OF CEREMONIES: Mr. Frederico C. Bañaga Jr.



1. REGISTRATION and ELECTION

2. OPENING PRAYER and NATIONAL ANTHEM- Thru Cooperative Video



4. WELCOME ADDRESS: Mr. Benjamin L. Borja, Jr. Board Member Delivered

his address as quoted, “Salamat, sa akong kauban nga mga opisyalis, mga

coop employees and staff, kamo tanan mga myembro dinhi sa camp JMC,

kamusta kamo diha? Ang atong manager dinhi sa camp JMC si Ange Hojas,

kauban sa ilang mga supervisors, og sa tanan mga bisita maayong hapon og

welcome kaninyong tanan niining hapona. Karung hapona mao man atong

tinuig nga assembleya sa atong kooperatiba, magreport kami kaninyo unsa

ang dagan sa atong kooperatiba sa sulod sa usa katuig. Makita ninyo karun

sa e-represent sa atong Vice-President, nga adunay pag-usbaw sa atong

performance. Kini dili nato siya makab-ot og wala ang tiunay nga

pagtinabangay. Dili lang kai ang opisyalis maoy motrabaho sa atong mga

buluhaton, kundili kamo sab dunay obligasyon, at the same time part ta as

owner. Kita tanan tag-iya sa kooperatiba. Dili ko na langanlanganun, again in

behalf of the officers and coop employees and staff welcome to this

assembly and God bless us all. Thank you.

5. MESSAGE: Mr. Angel Emmanuel A. Hojas MANAGER-East Crop Production

Unit, delivered his message as mentioned. “Welcome sa tinuig na kalihukan

sa BCC, sa pagpahibalo sab sa atong mga membro base sa dagan sa atong

kooperatiba. Ang mga pagsulay na masagubang, mogaan ug sayon lamposon

kung kooperatiba ang gisandigan. Gusto lang nako e-share ang storya sa

bibliya. The Parable of the talents. Ang hari, nagbilin og kwarta sa iyang tulo

ka sulogoon. And usa sa iyang sulogoon iyang gideposito sa bangko ga-earn

og interest. Ang isa iyang ginegosyo sa lain lugar, og gakita sab gihapon. Ang

isa gitaguan, gilubong niya sa yuta. Ang pangutana karun asa ta sa tulo?

Katong ibutang sa bangko? Mo invest para mokita og dako? O gitapigan o

itago pero walay pag tubo? So tan-awun nato isip membro unsa atong

ikahatag sa kooperatiba, unsa atong maiambag? As an officers unsa atong

hunahuon unsaon pagpalambo para sa atong mga membro. Sa kooperatiba

sab asa padulong ang atong kooperatiba, kumpara sa uban pang

kooperatiba. Maybe nasuko ang hari sa tao nga gilubong lang sa yuta ang

iyang kwarta. Na miss niya ang chance makabuhat og maayo, tungod sa

iyang kahadlok. Mao ra tingali ni akong ma impart. Sama sa kausa pa, asa

mo sa tulo? Naa ra sa inyo ang choice. Kamo na makatubag ana. Salamat og

maayong hapon.

� AWARDS AND RECOGNITION: Frederico C. Bañaga Jr.-

HIGHEST LOAN PATRONIZER/for the year-CREDIT DIVISION

92903 Lapuz. Rommel 800.00

HIGHEST SHARE DEPOSITOR/for the year-Consumers Division

GOOD PAYORS: CREDIT: Raffles

CONSUMERS:

EARLY BIRDS-Raffles

Part II-Bussiness Session: CONVENTION CHAIRMAN/PARLIAMENTARIAN-

Director Eduardo G. Martinez

6. CALL TO ORDER- Dir. Eduardo G Martinez, as convention Chairman, briefed the

assembly on the ground rules and declared this 11th Annual General Assembly

in order. Called on the secretary for the proof of due notice prior to this

assembly and the determination of quorum.


LPTIGPOS BCC Secretary- “Maayong hapon sa tanan mga membro sa

kooperatiba karun atong ipahigayun atong 11th General Assembly. Ang proof of

notice pinaagi sa atong local cable network advertisement ug posting sa atong

mga tarpaulin diha sa matag lokasyon. Karun sa Impasug-ong aduna kita’y 118

members, karun anaa nakita sa 69 o 59%. Therefore Mr. Chairman, I declare

this assembly now in quorum.


MINUTES. Convention Chairman Eduardo G. Martinez instructed the body to

read the 2018 11th Annual General Assembly minutes.

• Mr. Romano Aranas- I move to dispense the reading of the 2018 11th BCC 11th

General Assembly. Mr. Norberto Pinto-I second the motion. No objection.

The reading of the previous minutes was dispensed. The convention

Chairman asked for action of the 2018 10th Annual GA Minutes.

• Mr. Noe Gabaran moved to approve the meeting. Jay Gabaran seconded.


III. BOARD OF DIRECTORS 2018 REPORT: BOD Vice Chairman Mr. Rosjeb O. Pizon

presented as stated in pages 3 to 4 at the souvenir program. The Convention

Chairman Eduardo G. Martinez asked the body for any


• Ms. Ma. Luna Cimafranca moved to approve the Chairman of the Board’s

Report. Mr. Joel Sumibog seconded the motion

IV. ALLOCATION OF NET SURPLUS PRESENTATION: Operation Manager

Jacqueline A. Sicat presented as stated in page 2 at the souvenir.

VII. COMMITTEE REPORTS: The convention Chairman asked the body to read the

2018 Committee Reports as stated in pages 6-10 at the souvenir program.

• Mr. John Michael Oray moved to dispense the presentation of all

committee reports Mr. Rolito Tapia seconded the motion. No objection

The reading of the committee reports was dispensed. The convention

Chairman asked for action of the 2018 Committee Reports. Ms. Alma

Vivian Escalante moved to approve the 2018 Committee Reports. Mr.

Lito Ayo-an seconded the motion.





• Agricultural Research Laboratory Services



• Heavy Equipment Provider- Rental Services

• Child Care Services

• Agricultural Crop, Farming and Growership




• Mr. Nandaeflor Mangga moved to dispense the presentation of the 2019

Propose Budget.

• Mr. Placido Belacho seconded the motion. No objection. The

presentation of the 2019 Proposal Budget was dispensed. The convention

Chairman asked for action of the 2019 Propose Budget.

• Mr. Angelito Dino moved to approve the presentation of the 2019

Propose Budget. Mr. Nerio Salingoran seconded the motion.


CREDIT CONSUMER



13. ADJOURNMENT:

VII. DISTRIBUTION OF NET SURPLUS

Recorded by: LP Tigpos

HOURLIES 21584 Pacanza, Jeefry 800.00

RETIREES C95385 Arevalo. Elsita 800.00

21634 Bulanio, Carl Anthony 600.00

92591 Franje, Francis 600.00

93671 Tion, Jestoni 600.00

92123 Anoya, Roque Jr. 600.00

40872 Cabuyaon, Annie 600.00

32576 Añora Lydia 600.00

C95344 Baculio, Fe 200.00

33742 Beltran, Charlita 200.00

C95079 Sia, Annie 200.00

- 45 -


COMMUNITY COOPERATIVE (BCC) HELD AT CAMP 14 MARCH 15, 2019




1. RO Pizon 7. DL Bautista 13. SA Reyes

2. EG Martinez 8. BE Duites 14. JA Sicat

3. FC Bañaga 9. AM Abarcas 15. WE Cahatian

4. BL Borja, Jr 10. JB Adarne 16. BV Cabugao

5. AL Abrea 11. MP Binghay 17. CPenuela .

6. NLV Macoy 12. MB Españo 18. TLO Ravidas

MASTER OF CEREMONIES: Mr. Frederico C. Bañaga Jr.

Chairman-Supervisory Audit and Inventory Committee



1. REGISTRATION & ELECTION

2. OPENING PRAYER-Thru Cooperative Video

3. NATIONAL ANTHEM- Thru Cooperative Video



5. WELCOME ADDRESS: Mr. Audie L .Abrea Board Member Delivered his

address as quoted, “In behalf sa BOD and staff sa management sa BCC, sa

akong mga higala diri sa Camp 14, so maayong hapon. Ania kami diri sa

Camp 14, para sa atong General Assembly. Anaa tay maayong balita, kay sa

history sa atong BCC karun tuiga matagamtam nato ang pinakadako nga

increased sa atong assets. So karun hapona e-representar sa atong isa sa

kauban nato diri giunsa nato pagkuha sa atong targets. So I hope ma-

maintain nato ni siya og malampasan pa nato nisa sunod pa nga tuig. Diri

lang ako kutob daghan salamat og maayong hapon.

6. MESSAGE: Ms. Ailene Rose M. Abella Supervisor North CPU, Maayong

hapon kanatong tanan. Unsa man ang atong tema karun sa atong General

Assembly mao ning mga pagsulay na masagubang, mogaan ug sayon

lamposon kung kooperatiba ang gisandigan. Tinuod ba kini kanato? Para sa

akoa tinuod kini, og nakita pud nako sa atong mga kauban sa trabaho,

kauban sa buhat nga dako gyud kaayo ikatabang kanato ang COOP. Labi na

ang BCC. Sa atong adlaw adlaw nga panginabuhi. Labi na sa

panginahanglanun sa atong pamilya, labi na sa atong mga estudyante. So

dako kaayo og gitabang ang COOP. Mao nang gisandigan gyud nato. Og

bisan pa gani sa atong panginahanglanun sa atong balay sama sa atong

groceries ug uban pa. Diba sige ta salig sa COOP? So inani ka importante ang

COOP sa atong kinabuhi. Mao isip nga kita membro dapat kita pud kabalo sa

atong responsibilidad sa atong cooperative. Dili lang esalig ang tanan sa

atong opisyalis ang atong kooperatiba kung dili kitang tanan

magtimbayayong para sa kalambuan sa atong kooperatiba. So, unsaon man

nato pagbuhat? Diba mo supporta ta sa unsa nga mga poryekto, o packages

gina-offer sa atong cooperative. So kung unsa man gani naa ta perminti para

mo supporta og mo patronize. Kita mang tanan mapasalamaton ta sa atong

kooperatiba. Daghan salamat og maayong hapon.

7. AWARDS AND RECOGNITION: Mr. Frederico C. Bañaga Jr.-

HIGHEST FIX DEPOSITOR/for the year-CREDIT DIVISION

37079 Yecyec, Lilia 800.00

GOOD PAYORS: Raffles CREDIT:

EARLY BIRDS-Raffles

Part II-Bussiness Session:

CONVENTION CHAIRMAN/PARLIAMENTARIAN- Director EG Martinez

1. CALL TO ORDER- Dir. Eduardo G. Martinez, as convention Chairman, briefed

the assembly on the ground rules and declared this 11th Annual General

Assembly in order. Called on the secretary for the proof of due notice prior

to this assembly and the determination of quorum.


Lavenia P. Tigpos BCC-Secretary- “Good afternoon sa tanan.karun nagsaulog

kita sa atong 11th General Assembly. Ang atong proof of due notice is

disseminated through local cable network advertisement, also posting in

each work location. Diri sa Camp 14 aduna kitay 98 active members sa atong

kooperatiba. Karun aduna kitay42 or 42% nga mitambong. Therefore Mr.

Chairman, I declare this assembly now in quorum.


MINUTES.

� Convention Chairman Eduardo G. Martinez instructed the body to read the

2018 10th Annual General Assembly minutes.

• Mr. Danny Aurestila- I move to dispense the reading of the 2018 11th BCC

10th General Assembly.

• Mr. Jonathan Lajera-I second the motion. No objection. The reading of the

previous minutes was dispensed. The convention Chairman asked for action

of the 2018 10th Annual GA Minutes.

• Mr. Alipio Calihat- moved to approve the 2018 GA meeting.

• Mr. Alfredo Villacampa seconded the motion.


I. BOARD OF DIRECTORS 2018 REPORT: BOD Vice Chairman Mr. Rosjeb O.

Pizon presented as stated in pages 3 to 4 at the souvenir program. The

Convention Chairman Eduardo G. Martinez asked the body for any


• Mr. Roberto Degracia moved to approve the Chairman of the Board’s

Report

• Mr. Rico Malinay seconded the motion

II. ALLOCATION OF NET SURPLUS PRESENTATION: Operation Manager

Jacqueline A. Sicat, presented as stated in page 2 at the souvenir.

III. COMMITTEE REPORTS:

The convention Chairman asked the body to read the 2018 Committee

Reports as stated in pages 6-10 at the souvenir program.

• Mr. Danilo Alfonso moved to dispense the presentation of all committee

reports

• Mr. Richard Elarcosa seconded the motion. No objection. The reading of

the committee reports was dispensed. The convention Chairman asked

for action of the 2018 Com report

• Mr. Nelson Cabiles moved to approve the 2018 Committee Reports.

• Mr. Noel Jamisolamin seconded the motion.





• Bayad Center Services

• Agricultural Research Laboratory Testing Services



• Heavy Equipment Provider- Rental Services

• Child Care Services

• Agricultural Crop, Farming and Growership




• Mr. Victorino Balcurza moved to dispense the presentation of the 2019

Propose Budget.

• Mr. Rolie Argabio seconded the motion. No objection. The presentation

of the 2019 Propose Budget was dispensed. The convention Chairman

asked for action of the 2019 Propose Budget

• Mr. Rodel Lopera moved to approve the presentation of the 2019

Proposal Budget.

• Mr. Jose Villan seconded the motion.


Convention Chairman EGMatinez asked for the declaration of the dividends.

• BOD Vice-Chairman Rosjeb O. Pizon by the power vested in me, as your

Vice-Chairman I now declared the 2019 Dividend to be distributed.

CREDIT CONSUMER



8. ADJOURNMENT:

Convention Chairman Eduardo G. Martinez declared adjournment of

the 2019 Annual General Assembly.

No objection.

The 11th Annual General Assembly was adjourned at 4:00Pm

IV. DISTRIBUTION OF NET SURPLUS

Recorded by: LP TIGPOS

Credit C95494 Lajera, Alberto 600.00

Consumers 21676 Cantero, Marlon 600.00

C91024 Mangayan, Maristela 200.00

35310 Cabales, Nelson 200.00

C92021 Allito, Julita 200.00

- 46 -

MINUTES OF 11TH GENERAL ASSEMBLY OF THE BUKIDNON COMMUNITY COOPERATIVE HELD AT CAMP 9 ON MARCH 14, 2019

THEME: “Mga Pagsulay na Masagubang, Mogaan ug sayon Lamposon kung Kooperatiba ang Gisandigan” OFFICERS: GUEST/STAFF 1. Henry S. Dedumo 8. Garry T. Navarosa 13. Ginalou T. Cahatian 2. Mark Jason Villanueva 9. Eduardo Y. Valiente 14. Jackie Lou Y. Gamana 3. Johnny A. Aquilino 10. Aileen Rose M. Abella 15. Jigger Ladra 4. Exor D. Dablo 11. Ma. Gina A. Sumihay 16. Marberto P. Lucino 5. Jose Franco B. Taclindo 12. Marlon Sicat 17. Liezel A. Tequillo 6. William T. Doydora 18. Edson S. Sabio 7. Aiza G. Luna 19. Josephine B. Alquitela Master of Ceremonies: Mr. Garry Navarosa Time Started: 2:50PM

PART I – OPENING PROGRAMME 1. Registration and Election 2. Opening Prayer, National Anthem, & Cooperative Hymn – Thru BCC video 3. Cooperative Pledge – Recited led by Garry Navarosa. Emcee Garry Navarosa gave his warmest greetings to all members attended and welcoming us for the 11th BCC Annual General Assembly. He introduced all the Board of Director, staff, and other committees. 4. Welcome address - Mr. Mark Villanueva , DMPI Supervisor said “ Maayong hapon sa tanan! Kami nalipay nga magkakita ang mga membro, kita nagkatapok para sa atong tinuig nga assembleya, ang magkuha sa maayohon sa atong dividend. Pero isa pod ni nga oportunidad nga atong mapakita ang atong suporta sa atong kooperatiba. Sama sab sa pag attend sa mga meeting, pag botar sa atong election, aron naa tay mahalal nga leader nga maoy mag guide ug magpalambo para sa mabungahong kooperatiba. Kooperatiba gikan sa word nga Cooperate nga kita magtinabangay. Dili lang ang perminti kooperatiba mutabang sa atoa pero dapat kita pod isip membro ato pud buhaton ang atong mga obligasyon. Once again, Kami nalipay nga daghan mitungha nato nga mga membro dri na gpakita sa mga supporta sa BCC ug in behalf of Sir Archie Apal , Mediation and conciliation committee and to our BCC Officers and staff welcome og Mayong hapon sa tanan.” 5. Message - Mr. Marlon Sicat, Manager of DMPI as stated “ Maayong hapon sa tanan! Ilabi na sa atong chairman sa kooperatiba, Sir Henry Dedumo ug sa mga Board of Directors nga ania sa atung atubangan karon, ilabi napod sa mga members nga nabilin dinhi sa west section, sa Camp 9. Maayong Hapon sa inyong tanan. Ang theme sa karon natong General Assembly “Mga Pagsulay na Masagubang, Mogaan ug sayon Lamposon kung Kooperatiba ang Gisandigan” nitunog ug nahitabo ni sa among pamilya, 13 me kabook mag igsoon pero kanang 13 malampuson sa ilang pag eskwela. Sa akong mahinumduman, walay pati sa matrikula sa pag eskwela, mao nay gitawag nga Scholar tungod ani - ( megunit sya sa iyang kamot – drawing sa logo sa BCC). Nanggraduate me sa among pag eskwela sa dakong tabang sa atong kooperatiba. Sa nahibilin dire sa west na pila na katuig nagsebisyo sa kumpanya, Inyo jud natagamtaman ang unsa ka importansya ang atong kooperatiba.Kung naa ta sa kalisod naa tay maduolan na atong kooperatiba para mutabang sa atong kalisod. Kung dili tungod sa Cooperative ambot ba kaha ug nakagraduate ba kaha mi 13 gud me kabook. Tinood jud ni. Mapasalamaton kita nga hangtod karon naa pa japon sya, active ug malamboon. Ug

nanghinaot me dre sa west madungagan pa ang mga members sa BCC kay possibly naa tay 60 kabook nga newly hired. Continue ta magsupport sa cooperative, dli lang ni par sa kaayuhan sa kooperatiba pero kalambuan pod ninyo as a member. Kamo daan mga myembro dre giyahi ninyu sila nga dako matabang ang atong kooperatiba kanila ug continue patronize sa atong mga produkto para magpabilin kitang malamboon ug ngadto2x masandingan natu sya sa atung panginahanglanon.ug Daghan salamat sa tanan ug maayong hapon. 6. Awards and Recognition – Director William Doydora announced the awards of the following:

• Highest Fixed Depositor: Ma. Elena Bernadas

• Highest Savings Depositor: Clarita Anasco

• Highest Purchaser: Sallybel Melencion Good Payors: Raffles

CREDIT DIVISION 1. Abraham Olegario 2. Jimmy Yecyec

600.00 600.00

CONSUMER 1. Jury Revilla 2. Gregorio Gonzales

600.00 600.00

Early Birds: Raffles

Reynaldo Acha 200.00

Elmer Malabo 200.00

Teresita Roxas 200.00

PART II – BUSINESS SESSION 1. Call to Order: Convention Chairman Director Exor D. Dablo explained the ground rule of assembly and stated “This 11th BCC annual General Assembly will now come to order. And let me call the secretary for the proof of Due Notice and determination of a quorum. ” 2. Proof of Due Notice and Determination of Quorum Ms. Liezel Tequillo, secretary of BCC Annual General Assembly said “ Maayong hapon kaninyong tanan dre sa camp LFL. Ang atong ika 11th General assembly nagpamatood pamaagi sa DEARBC Cable Advertisement ug posting sa mga tarpaulin sa mga tagsa-tagsa nato ka location. Diri sa Camp aduna kitay 127 regular active members. Ug aduna kitay nakolekta nga 32 nga nitungha sa pagkakaron which is equivalent to 25%. Therefore, Mr. Chairman I now declare this 11th General Assembly in quorum.” 3.Reading and Approval of 2018 10th General Assembly Minutes.

� Convention Chairman EDDablo instructed the body to read the 2018 10th General Assembly Minutes.

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� Ms. Sally Melencion moved to dispense the reading of the 2018 GA Minutes.

� Mr. Marlon Paug seconded the motion. � Dir. EDDablo asked for any objection, clarification,

question. Hearing none, Mr. Chair requested for action of the 2018 GA minutes.

� Mr. Edwin Roxas moved to approve the 2018 GA Minutes. � Mr. Antonio Lagura seconded the motion. � Mr. Chair any objection, clarification and hearing none the

2018 GA minutes was approved as printed.

4. Annual Reports A. BOD Report and Financial Report – as presented by BCC BOD Chairman Henry S. Dedumo, on the souvenir program pages 3 – 4.

� Convention Chairman asked the body for any question, objection and/ or clarification for The BOD Report as presented.

� Ms. Marianne Ramoso – Moved to approve the BOD. � Ms. Clarita Anasco – seconded the motion.

-No Objection/No question � Mr. Chair any objection, clarification and hearing none the

BOD Report was approved as presented. � Convention Chairman asked the body for any question,

objection and/ or clarification for The Financial Report as presented.

� Mr. Jimmy Yecyec– Moved to approve the Financial Report.

� Mr. Marc Labininay– seconded the motion. -No Objection/No question

� Mr. Chair - any objection, clarification and hearing none the Financial Report was approved as presented.

B. Allocation of Net Surplus Ms. Ginalou T. Cahatian, General Manager of BCC, briefly discussed how the ratio on the net surplus distribution derived.

CREDIT CONSUMER

INTEREST ON SHARE CAPITAL 7.31 % 7.41%


C. Committee Reports - Convention Chairman asked the body to read the 2018 committee Report as stated in the souvenir program pages 5-10.

� Mr. Ceasar Daapong – Moved to dispensed all 2018 Committee Reports.

� Mr. Richard Padera – Seconded the motion. - No Objection/Clarification/Question. The reading of all

committee Reports was dispensed. � Convention Chairman asked for action of 2018 Committee

Reports � Mr. Ramil Halina – Moved to approve all 2018 Committee

Reports. � Mr. Daniel Pailagao – seconded the motion.

- No Objection. All Committee Reports were approved as printed.

5. Proposals and Amendments Mr. Gary Navarosa, Chairman of the proposals committee, reported the collected proposals, add on and primary Business of BCC as follows: PRIMARY Business: To engage in Retail Merchandising, Fuel


Members, Farming/Agri-business, Trucking/Hauling and Transport

Services, Emission Testing, Drug Testing Center, Lease of

Cooperative Properties / Commercial Space, Ticketing Services,

Management and Consultancy Services, Entertainment Services,

Party Functions Services, Massage / SPA / Saloon Services/Derma

Care, Fitness Gym, Automotive Repair and Servicing & Parts

merchandizing .(Cars, Light Trucks, Motorcycles and Carwash),

Money Transfer Services, Franchising(Food Chain), Rent A Car,

Travel and Tour, Events Planner and Promotion, Funeral Services,

Bakery, Newspaper distribution, Photocopying& Printing, Coffee

Shop and Convenience Store, Pawnshop, Poultry and Livestock

Business, Restaurant and Food Catering Services, Food Processing,

Tailoring Services, Tarpaulin & T-shirt Printing , Electronic/Gadgets

Service Center , Housing Projects , Water Refilling, Laundry Services

and Dress Rental Services.

TO ADD: Hotel and Lodging, Legal LOTTO and STL Outlet, Foreign Currency Exchanging Services, Bayad Center Services Agricultural Research Laboratory Services, Medical Laboratory Testing Services, Vehicle Rental, Equipment Rental Services, Child Care Services, Agricultural Crop, Farming and Growership 6. 2019 proposed Budget

� Mr. Chairman asked the body for motion on the presentation of the 2019 proposed Budget.

� Mr. Rudelyn Ebueza – Moved to dispense the presentation of 2019 proposed budget.

� Mr. Beneto Estremos – Seconded the motion. - No Objection. - The presentation of 2019 proposed budget was

dispensed. � The convention Chairman asked for an action of the

proposed budget for 2019. � Mr. Abraham Olegario – moved to approve the 2019

proposed Budget. � Mr. Jesson Neri – Seconded the motion.

7. Declaration of Dividends � Mr. Henry Dedumo stated “To all the members of the

cooperative, by the power and virtue vested in me, as a Chairman of the Board of Directors of BCC, the 2019 Dividends are now declared for distribution.

8. Adjournment � Convention Chairman EDDablo declared adjournment of

the 2019 General Assembly. � Ms. Janine Alauro – Move to adjourn the 11th General

Assembly. � Ms. Teresita Rojas, Archie – seconded the motion.

No Objection. The 11th General Assembly was adjourned at 4:35 PM. PART III – DISTRIBUTION OF NET SURPLUS Recorded by: Liezel A. Tequillo Secretary, BCC General Assembly 2019

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MINUTES OF THE 11TH ANNUAL GENERAL ASSEMBLY OF THE BUKIDNON COMMUNITY COOPERATIVE (BCC) HELD AT CAMP PHILLIPS (DMPI EMPLOYEES), PHILLIPS, BUKIDNON ON MARCH 15, 2019. THEME: “Mga Pagsulay na Masagubang, Mogaan ug Sayon Lamposon kung Kooperatiba ang Gisandigan” PRESENT OFFICERS: STAFF/GUEST: 1. HSDEDUMO 17. GTCAHATIAN 2. WTDOYDORA 18. JBALQUITELA 3. MJVILLANUEVA 19. JYGAMANA 4. JAAQUILINO 20. JDLADRA 5. EDDABLO 21. LATEQUILLO 6. GCDONASCO 22. LDRANSE 7. GDIGOT 23. PAAMAMAG-ID 8. AGLUNA 24. MVBURDEOUS 9. GTNAVAROSA 25.DSMGALORPORT 10. MGASUMIHAY 26. EPGAMAO 11. GSMABAYLAN 27. MPLUCINO 12. JFTACLINDO 28.SJASALUTIN 13. JADARNE 29. MACATOL 14. AABARCAS 15. UBASALIO 16. ASNARCISO

MASTERS OF CEREMONIES: GARRY NAVAROSA Time Started: 3:25PM PART I – OPENING PROGRAMME 1. Registration and Election 2. Opening Prayer, National Anthem, & Cooperative Hymn – Thru BCC video 3. Cooperative Pledge – Recited led by Garry Navarosa 4. Welcome address – Director Edgardo Y. Valiente, Camp Phillips Administation Supervisor – Maayong Hapon sa tanan ug Nalipay kami nga ania nagkahiusa kita para sa atong General Assembly. Kooperatiba ug magpartisipar sa mga nay ikahatag nga suggestion para matabangan atung koop nga malamboon. I welcome you all for this 11th BCC annual General Assembly ug sa mausab Maayong Hapon! 5. Message - Mr. Armin S. Narciso, Mindanao HR Group Head DMPI – Maayong Hapon sa tanan, All members, officers and staff sa Bukidnon Community Cooperative. Daghang salamat sa BCC sa pag invite nako diri para maghatag sa inyo ug message nga gipangulohan ni Director Henry S. Dedumo. So, ang cooperative dako jud sya ug tabang. Kung unsay gepatronize nato sa atong coop mao man sad mabalik nato nga gabahinon matag tuig. Gihagit ko ang coop nga paubsan pa ang interest rate para sab sa atong mga myembro matabangan especially hourlies kay sa karong panahon wala na kayu tay overtime og naglisod sila sa paghimo sa ila obligation ang pagbayad sa mga dues nila. This is to make the borrowers monthly loan amortization lighter and maencourage pod for prompt payment. Usa pod, in our meeting sa DMPI napag usapan namin ang pag joint-venture sa mga DMPI – coops. Dako na kaayu ni nga progress na mahatag sa opportunity sa mga coops. Ang member obliged pod ta nga magpatronize sa atong produkto like I said, All members iconsider nga active must have existing loan pero dili delinquent sa iyang amortization. At least minimum of 10% sa Share capital para jud Makita nato nga nagpatronize kita. Maayo ang dagan sa atong

coop kay dako man kita ug gabahinon. So let us listen to their presentation and Magsuggest sa angay pa ikalambo sa atong coop.Once again, Thank You very much and Good Afternoon! 6. Awards and Recognition – Director Garry Navarosa announced the awards of the following: Highest Fixed Depositor – 800.00 each

CREDIT DIVISION CONSUMER DIVISION

• Verdeflor, Marco • Malaluan, Luvisminda

• Aratan, Jilvin • Emano, Jose

• Paypa, Mark Julius

Highest Savings Depositor-800.00 each

• Gantuangco, Rogel

• Aratan, Jilvin

• Chiong, Nora

Highest Loan Patronizer-800 Highest Purchaser-800

• Malaluan, Luvisminda • Pizon, Rosjeb

• Emano, Jose • Lozada, Dominica

• Oguimas, Tirso Jr. • Martos, Manuel

Good Payors – Raffles 600.00 each


• Pesisano, Winbryson • Actub, Joel

• Pame, Juvelito • Dayot, Harvey

• Pame, Leny Jane • Canada, Edgar

• Sevillejo, Lorna • Untolan, Mark Gray

• Gamutan, Dennis • Cabuyaon, Rackie

• Fernandico, Susan • Auxtero, Avel

• Estrada, Dave Gregory • Cona, Bobby

• Lumiano, Ian Jayson • Suarez, Teodoro Jr.

• Pailagao, Charmaine • Duazo, Wilfredo

• Albia, Artemio • Laina, Felix

• Logronio, Jonathan • Achas, Roland Joe

• Taclindo, Jose Franco • Diacosta, Ponciano

• Sibolon, Jabzeel • Mencede, Retche

• Ching, Jordan

• Justiniane, Rosenda

• Licayan, Felix

Early Bird – Raffles-200 each

Waban, Consiso Jr Tacandong, Rey

Estoy, Rolando

PART II – BUSINESS SESSION 1. Call to Order: Convention Chairman Director Rodulfo Macatol briefed the Assembly the ground rules and declared the 11th Annual General Assembly in order. He called the secretary for the proof of due notice and determination in quorum. 2. Proof of Due Notice and Determination of Quorum; Ms.Liezel Tequillo, secretary of 11th GA – Maayong Hapon sa tanan membro sa BCC sa Camp Phillips. Ang Proof of due notice was manifested through local cable advertisement and posting of tarpaulin in each work location. Here in Camp Phillips we have 551 DMPI regular active members. We collected 138 attendees or equivalent to 25% of the total member. Mr. Chairman, I declare this General Assembly in quorum. Thank You. 3.Reading and Approval of 2018 10th General Assembly Minutes: Convention Chairman EDDablo instructed the body to read the 2018 10th General Assembly Minutes.

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� Mr. Lamberto Vidon moved to dispense the reading of the 2018 GA Minutes.

� Mr. Roy Tacandong seconded the motion. Dir. EDDablo asked for any objection, clarification, and question. Hearing none, Mr. Chair requested for action of the 2018 GA minutes.

� Mr. Marcelo Clarinan Jr. moved to approve the 2018 GA Minutes.

� Mr. Zherwin Aniel seconded the motion. Mr. Chair- any objection, clarification and hearing none the 2018 GA minutes was approved as printed. 4. Annual Reports A. BOD Report and Financial Report – as presented by BCC BOD Chairman Henry S. Dedumo, on the souvenir program pages 3 – 4. Convention Chairman asked the body for any question, objection and/ or clarification for The BOD Report as presented.

� Mr. Kristoffer Abregana – Moved to approve the BOD. � Mr. Mark Jason Villanueva– seconded the motion.

-No Objection/No question Mr. Chair any objection, clarification and hearing none the BOD Report was approved as presented. Convention Chairman asked the body for any question, objection and/ or clarification for The Financial Report as presented.

� Mr. Kristoffer Abregana – Moved to approve the Financial Report.

� Mr. Manuel Martos seconded the motion. -No Objection/No question Mr. Chair - any objection, clarification and hearing none the Financial Report was approved as presented. B. Allocation of Net Surplus Ms. Ginalou T. Cahatian, General Manager of BCC, briefly discussed how the ratio on the net surplus distribution derived.

CREDIT CONSUMER

INTEREST ON SHARE CAPITAL

7.31 % 7.41%

PATRONAGE REFUND

41.53% 2.46%

C. Committee Reports - Convention Chairman asked the body to read the 2018 committee Report as stated in the souvenir program pages 5-10. � Mr. Ian Lumiano – Moved to dispensed all 2018 Committee

Reports. � Mr. Geoffrey Mabaylan – Seconded the motion.

No Objection/Clarification/Question. The reading of all committee Reports was dispensed. Convention Chairman asked for action of 2018 Committee Reports � Mr. Ruben Abucayon – Moved to approve all 2018

Committee Reports. � Mr.Hans Cristian Mahilum– seconded the motion. No Objection. All Committee Reports were approved as printed. 5. Proposals and Amendments Mr. Gary Navarosa, Chairman of the proposals committee, reported the collected proposals, add on and primary Business of BCC as follows: PRIMARY Business: To engage in Retail Merchandising, Fuel



Services, Emission Testing, Drug Testing Center, Lease of

Cooperative Properties / Commercial Space, Ticketing Services,

Management and Consultancy Services, Entertainment Services,

Party Functions Services, Massage / SPA / Saloon

Services/Derma Care, Fitness Gym, Automotive Repair and

Servicing & Parts merchandizing .(Cars, Light Trucks, Motorcycles

and Carwash), Money Transfer Services, Franchising(Food

Chain), Rent A Car, Travel and Tour, Events Planner and

Promotion, Funeral Services, Bakery, Newspaper distribution,

Photocopying& Printing, Coffee Shop and Convenience Store,

Pawnshop, Poultry and Livestock Business, Restaurant and Food

Catering Services, Food Processing, Tailoring Services, Tarpaulin

& T-shirt Printing , Electronic/Gadgets Service Center , Housing

Projects , Water Refilling, Laundry Services and Dress Rental

Services.

TO ADD: Hotel and Lodging, Legal LOTTO and STL Outlet, Foreign Currency Exchanging Services, Bayad Center Services Agricultural Research Laboratory Services, Medical Laboratory Testing Services, Vehicle Rental, Equipment Rental Services, Child Care Services, Agricultural Crop, Farming and Growership 6. 2019 proposed Budget - Mr. Chairman asked the body for motion on the presentation of the 2019 proposed Budget.

� Mr. Mark Villanueva – Moved to dispense the presentation of 2019 proposed budget.

� Ms. Sheila Dacer – Seconded the motion. No Objection. The presentation of 2019 proposed budget was dispensed. The convention Chairman asked for an action of the proposed budget for 2019.

� Mr. Mark Paypa – moved to approve the 2019 proposed Budget.

� Mr. Mark Oquias – Seconded the motion. 7. Declaration of Dividends-Mr. Henry Dedumo stated “To all the members of the cooperative, by the power and virtue vested in me, as a Chairman of the Board of Directors of BCC, the 2019 Dividends are now declared for distribution. 8. Adjournment � Convention Chairman RDMacatol declared adjournment of

the 2019 General Assembly. � Mr. Felix N. Laina Jr. – Move to adjourn the 11th General

Assembly. � Mr. Arvel Sumihay– seconded the motion. No Objection. The 11th General Assembly was adjourned at 5:00 PM. PART III – DISTRIBUTION OF NET SURPLUS Recorded by: Liezel A. Tequillo Secretary, BCC General Assembly 2019

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MINUTES OF THE 11TH ANNUAL GENERAL ASSEMBLY OF THE BUKIDNON COMMUNITY COOPERATIVE HELD AT CAMP

PHILLIPS ON MARCH 16, 2019. (NON DMPI AND RETIREES)

THEME: “Mga Pagsulay na Masagubang, Mogaan ug Sayon Lamposon kung Kooperatiba ang Gisandigan”

OFFICERS/GUEST: STAFF HSDEDUMO GTCAHATIAN

WTDOYDORA JASICAT

ROPIZON JBALQUITELA

APAPAL BVCABUGAO

JAAQUILINO WECAHATIAN

EDDABLO JDELATORRE JR.

FJCBANAGA JYGAMANA

GDIGOT BPGARCIA

AGLUNA FGLOVASA

GTNAVAROSA MAJAMODIONG

MGASUMIHAY JLADRA

GSMABAYLAN MTLAGAMON

JFTACLINDO MPLUCINO

JADARNE PLNALITAN

DLBAUTISTA MTNAMUAG

MPBINHAY SAOMONLAY

BLBORJA JR TLORAVIDAS

BEDUITES JRSRENOMERON

NLVMACOY ESSABIO

EYVALIENTE CSTAPULAYAN

JFBTACLINDO LATEQUILLO

ARMABELLA EMVILLACIDO

FTMACAPONDAG JR. LPTIGPOS

MASTERS OF CEREMONIES: FEDERICO C. BANAGA JR Time Started: 9:50 AM PART I – OPENING PROGRAMME 1. Registration and Election 2. Opening Prayer, National Anthem, & Cooperative Hymn – Thru BCC video 3. Cooperative Pledge – Recited led by FJCBANAGA Emcee JR Banaga introduced the Board of Directors, Officers and Staff, attending the General Assembly. 4. Welcome address –Mr. Benjamin L. Borja Jr., BCC Board of Director. – Maayong Buntag! Manindog tang tanan ug ipataas ang atong too nga kamot ug kamustaha ang inyong mga abay nga ania karon nagkakita nasab ta sa atong tinuig nga buluhaton. Daghang salamat sa inyong pagtambong isip suporta sa atong kooperatiba ug aron kita masayod kung unsa jud dagan sa atong Kooperatiba. Aron aduna kitay mga kasayoran. Ang inyong pag anhi dli lang isip membro pero co-owner sa cooperative dako kayo nga tabang. Kita mga retirees dli nato hunahunaon nga wala ta gibali bali sa mga opisyales, kay nagmatngon kami para sa kaayohan ninyo. Alang atong retirees nga wala nasayod aduna kitay Pension Loan, Naa tay commodity Loan ug Full withdrawal sa deposit pwede namo mobalik after 3 months. Ang atong BCC from the history, this is the highest net surplus na attain nato. Kita non-DMPI ug Retirees continue patronize ug uban pang kaayohan. In behalf again, the officers we welcome all of you on this 11th GA, God bless, and Thank You! 5. Message – Mr. Florencio T. Macapondag, Former Manager of central Trucking/ Harvest DMPI.- “ Maayong Buntag sa tanan!Sa atong mga opisyales sa BCC headed by my friend and my neighbour in DEARBC Mr. Henry Dedumo, Sa atong staff sa BCC headed by Ma’am Gina and Jackie, sa atong mga kauban nga retirees, Sa atong Bisita nga ania karon, Friends, Ladies and Gentlemen a very Good Morning!

So dako akong pasalamat, it is a privileged and honor nga ako nakig uban kaninyo karon. So sa geingon ni Sir Borja ang atong katuyuan karon aron mahibal an nato ang dagan sa atong Kooperatiba sa niaging tuig 2018. Sa paghatag sa Souvenir program, ako gitan aw mayo jud ang dagan. Una sa Net Surplus, as Sir Borja said in the history of BCC mao ni pinaka taas. Ikaduha ang atong assets o kabutangan nitubo usab og 8%.tungod sa pagdumala sa maayong opisyales ug mga trabante sa BCC they deserved a big round of applause. Ug ang ikatulo nga atong tan awon, ang atong cash o liquidity- mayo ang agas sa tubig minus man ang utang. Kini ato ning kalamboan nga kita membro mayo ang atong pagpakabana sa maayong pagbayad sa atong mga utang sa insakto nga panahon. Sad to say from lugait og sa lain lain parti daghan palpak, tungod usa ana ang wala pagpakabana sa membro sa ilang mga loan o balayronon.Kining utang usa magaguba sa integrity sa pagkatao.Unya kasagaran sad naa “kasultihan nga Utang Lipay Bayad Likay” so murag wala kayo ni dire sa ato. Ang ikaduha pod makakuba sa association, in any cooperative ang mapahimoslanon nga officer nay mga conflict of interest.pero, diri sa atong coop sa BCC dili jud na mahitabo ug wala sad nahitabo tungod kay atong training sukad sa DMPI nga kita mangkihadlokon sa atong trabaho.Ang tema karon haom kayo. Sa diha pa nag eskwela ang atong mga anak, dool sa coop educational loan solbad na matrikula isa ka tuig. Sa atong mga successors nay mga panahon nga mahutdan tag supply so dagan ta sa coop magVale o Tie-up.Dako jud ang natabang sa coop nako ilabi na ang pagbalay ug paggawas sa akong anak nga nanginahanglan ug dakong financial. In term pod sa Savings, Dinhi dool ra versus bank sa Cagayan langan monaog pata. Ang atong Consumers sa una gamay pa kini nga tindahan karon mura na ug One-stop shop. Kini nga kalampusan atong nakab ot tungod sa panaghiusa sa mga opisyales, trabante ug membro dri sa atong kooperatiba. Ug tungod sa DMPI aduna tay Coop. Pasalamatan nato s DMPI. Ug diay nagabilin nga mensahe nga gikan kang Mother Theresa “I can do things you cannot. You can do things I cannot. Together we do great things.” Daghang salamat ug Maayong Buntag sa tanan. 6. Awards and Recognition – Director William Doydora announced the awards of the following: Highest Fixed Depositor – 800.00 each


• Agura, Angela • Cabugao, Belinda

• Wabe, Alexander • Getueza, Roy

Highest Savings Depositor-800.00 each

• Cahatian, Ginalou

• Tambis, Corazon

• Cabang, Teofilo

Highest Loan Patronizer-800 Highest Purchaser-800

• Alquitela, Josephine • Villacido, Edgar

• Inihao, Marilou • Calamongay, Mildred

• Ebuna, Dodie • Historia, Pacita

Good Payors – Raffles 600.00 each


• Tasi, Amador • Enguito, Julian

• Manlangit, Mario

• Tigpos, Lavenia

• Glovasa, Ferdinand

Early Bird – Raffles-200 each

Castillo, Rogelio Do, Gloria

Donghil, Nena Sabaldana, Celso

Ipanag, Benjamin Omonlay, Ma. Giza

PART II – BUSINESS SESSION 1. Call to Order: Convention Chairman Director Exor Dablo briefed the Assembly the ground rules and declared the 11th Annual General

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Assembly in order. He called the secretary for the proof of due notice and determination in quorum. 2. Proof of Due Notice and Determination of Quorum; Ms.Liezel Tequillo, secretary of 11th GA – Maayong Buntag Kanatong tanan mga membro sa atong Kooperatiba. Ang atong proof of due notice was disseminated through local TV Local advertisement og pagposting sa mga tarpaulin sa atong tagsa tagsa ka lokasyon. Ang atong accumulated attendance nga gipahigayon sa Sumilao, Impasug-ong, camp JMC, camp 9, Camp 14 ug Camp Phillips ang kagahapon hangtod karon aduna kitay naaccumulate nga 38% nga attendance of the total Members. Therefore, Mr. Chairman I declare this assembly now in quorum. Salamat!” 3.Reading and Approval of 2018 10th General Assembly Minutes: Convention Chairman EDDablo instructed the body to read the 2018 10th General Assembly Minutes. - Ms. Nena Donghil moved to dispense the reading of the 2018 GA Minutes. - Ms. Elsa Avan seconded the motion. - Dir. EDDablo asked for any objection, clarification, and question. Hearing none, Mr. Chair requested for action of the 2018 GA minutes. - Ms. Teresita Martisano moved to approve the 2018 GA Minutes. - Mr. Rolly Ortiz seconded the motion. - Mr. Chair- any objection, clarification and hearing none the 2018 GA minutes was approved as printed. 4. Annual Reports A. BOD Report and Financial Report – as presented by BCC BOD Chairman Henry S. Dedumo, on the souvenir program pages 3 – 4 - Convention Chairman asked the body for any question, objection and/ or clarification for The BOD Report as presented. - Mr. Salio Boyles – Moved to approve the BOD. - Ms. Lorna Laluna– seconded the motion. - No Objection/No question - Mr. Chair any objection, clarification and hearing none the BOD Report was approved as presented. - Convention Chairman asked the body for any question, objection and/ or clarification for The Financial Report as presented. - Mr. Salome Exclamador moved to approve the Financial Report. - Ms. Josefina Lecias seconded the motion. -No Objection/No question - Mr. Chair - any objection, clarification and hearing none the Financial Report was approved as presented. B. Allocation of Net Surplus Ms. Ginalou T. Cahatian, General Manager of BCC, briefly discussed how the ratio on the net surplus distribution derived.

CREDIT CONSUMER

INTEREST ON SHARE CAPITAL

7.31 % 7.41%

PATRONAGE REFUND

41.53% 2.46%

C. Committee Reports - Convention Chairman asked the body to read the 2018 committee Report as stated in the souvenir program pages 5-10. - Ms. Leonila Labo moved to dispensed all 2018 Committee Reports. - Mr. Phillips Parista seconded the motion. - No Objection/Clarification/Question. The reading of all committee Reports was dispensed. -Convention Chairman asked for action of 2018 Committee Reports - Mr. Victor Amenabar – Moved to approve all 2018 Committee Reports. - Mr.Ruben Lofranco – seconded the motion. No Objection. All Committee Reports were approved as printed. 5. Proposals and Amendments

Mr. Gary Navarosa, Chairman of the proposals committee, reported the collected proposals, add on and primary Business of BCC as follows: PRIMARY Business: To engage in Retail Merchandising, Fuel



Services, Emission Testing, Drug Testing Center, Lease of Cooperative

Properties / Commercial Space, Ticketing Services, Management and

Consultancy Services, Entertainment Services, Party Functions

Services, Massage / SPA / Saloon Services/Derma Care, Fitness Gym,

Automotive Repair and Servicing & Parts merchandizing .(Cars, Light

Trucks, Motorcycles and Carwash), Money Transfer Services,

Franchising(Food Chain), Rent A Car, Travel and Tour, Events Planner

and Promotion, Funeral Services, Bakery, Newspaper distribution,

Photocopying& Printing, Coffee Shop and Convenience Store,

Pawnshop, Poultry and Livestock Business, Restaurant and Food

Catering Services, Food Processing, Tailoring Services, Tarpaulin & T-

shirt Printing , Electronic/Gadgets Service Center , Housing Projects ,

Water Refilling, Laundry Services and Dress Rental Services.

TO ADD: Hotel and Lodging, Legal LOTTO and STL Outlet, Foreign Currency Exchanging Services, Bayad Center Services Agricultural Research Laboratory Services, Medical Laboratory Testing Services, Vehicle Rental, Equipment Rental Services, Child Care Services, Agricultural Crop, Farming and Growership 6. 2019 proposed Budget - Mr. Chairman asked the body for motion on the presentation of the 2019 proposed Budget. - Mr. George Madrio – Moved to dispense the presentation of 2019 proposed budget. - Mr. Marcelo Toquib – Seconded the motion. - No Objection. -The presentation of 2019 proposed budget was dispensed. - The convention Chairman asked for an action of the proposed budget for 2019. - Mr. Roseto Basinay – moved to approve the 2019 proposed Budget. - Mr. Cirilo Gaid – Seconded the motion. 7. Declaration of Dividends-Mr. Henry Dedumo stated “To all the members of the cooperative, by the power and virtue vested in me, as a Chairman of the Board of Directors of BCC, the 2019 Dividends are now declared for distribution. 8. Adjournment � Convention Chairman EDDABLO declared adjournment of the

2019 General Assembly. � Mr. Eduardo Adarne – Move to adjourn the 11th General

Assembly. � Mr. Dominador Emano– seconded the motion. No Objection. The 11th General Assembly was adjourned at 11:28 AM. PART III – DISTRIBUTION OF NET SURPLUS Recorded by: Liezel A. Tequillo Secretary, BCC General Assembly 2019

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COMMITTEE CHAIRPERSON CO-CHAIRPERSON MEMBERS

▪ Program and HS Dedumo RO Pizon GTCahatian and JA Sicat

Invitation

JY Gamana, MP Lucino, LA Tequillo, DSM Galorport

▪ Secretariat and GT Cahatian JA Sicat WECahatian, JDLadra, CQCo, BVCabugao, MHBautista

Paymaster SAOmonlay, ECPorminal, TLORavidas, JRRenomeron

CCPenuela, MBNamoc, MTNamuag, LPTigpos, AB Barotil

LDRanse, BPGarcia, SJASalutin, ESSabio, EMVillacido

DM Yecyec, MJ Floresca, CB Tapulayan, MT Lagamon

EPGamao, MBBurdeos, JJJamisolamin, ML Jamodiong

▪ Finance LA Tequillo MP Lucino All secretariat and paymaster member

▪ Budget HS Dedumo RO Pizon GT Cahatian and JA Sicat

Preparation

▪ Hall Preparation Election Committee, I.T Committee

and Sounds EY Valiente GT Navarosa and CA by Location

▪ Security GV Abul JP Tion Bison Security

▪ Transportation WE Cahatian JD Ladra Van Drivers

▪ Proposals GT Navarosa AL Abrea JS Aquilino, NLV Macoy, JC Angni

UC Basalio, EY Valiente, MP Binghay

▪ Awards and JS Aquilino JM Manhuyod BV Cabugao, MP Lucino, LA Tequillo

Recognition EC Porminal and DMS Galorport

EG Martinez, ED Dablo and RA Macatol

FC Bañaga, Jr. and JM Manhuyod

WT Doydora and CA Salagantin

BCC 12th

GENERAL ASSEMBLY WORKING COMMITTEES

March 18, 19, 20 and 21, 2020

Over-all Chairman: HS DedumoVice-Chairman: RO Pizon

▪ Convention Chairman and Parliamentarian

▪ Master of Ceremony

▪ Recorder and Determination of Quorum

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Chairperson - Henry S. Dedumo Chairperson - Rosjeb O. Pizon

Vice-Chairperson - Rosjeb O. Pizon Vice-Chairperson - Edgar Y. Valiente

Directors : Edgar Y. Valiente Secretary - Carol C. Penuela

Archie P. Apal Members : Eduardo G. Martinez

Garry T. Navarosa Archie P. Apal

Johnny S. Aquilino Jacqueline A. Sicat

Eduardo G. Martinez Jackie Lou Y. Gamana

Exor D. Dablo

Audie L. Abrea Chairperson - Exor D. Dablo

Vice-Chairperson - Johnny S. Aquilino

Members : Audie L. Abrea

Warner E. Cahatian

Chairperson - Frederico C. Bañaga, Jr. Jacqueline A. Sicat

Vice-Chairperson - Geornes V. Abul

Members : Berlino R. Acierto Chairperson - Henry S. Dedumo

Jestoni P. Tion Vice-Chairperson - Rosjeb O. Pizon

Aiza G. Luna Members : Mauro Legaspo

Ginalou T. Cahatian

Chairperson - Jose Franco B. Taclindo Chairperson - Garry T. Navarosa

Vice-Chairperson - Juden B. Adarne Members : Lawrence T. EbuňaSecretary - Sharon E. Fabela Adrian M. Abarcas

Members : Lyn S. Lagumbay Jegger D. Ladra

Cedric P. Labrador

Chairperson - Archie P. Apal

Chairperson - Nedo Lauro V. Macoy Members : Benjamin L. Borja, Jr.

Vice-Chairperson - Glenn D. Igot Mark Jason L. Villanueva

Secretary - Marilou P. Binghay

Members : Jabbar C. Angni Chairperson - John Mark Manhuyod

Members : Geoffrey S. Mabaylan

Urchelyn C. Basalio

Chairperson - Henry S. Dedumo

Vice-Chairperson - Rosjeb O. Pizon Chairperson - Eduardo G. Martinez

Members : Ginalou T. Cahatian Vice-Chairperson - Johnny S. Aquilino

Jacqueline A. Sicat Members : Carol C. Penuela

Liezel A. Tequillo

Marbert P. Lucino BOD Secretary - William T. Doydora

Jegger D. Ladra Tresurer - Liezel A. Tequillo

Ginalou T. Cahatian Finance and Administration Manager

Jacqueline A. Sicat Operations Manager

Marbert P. Lucino Bookkeeper - Consumers Division

Liezel A. Tequillo Bookkeeper - Credit Division

Mathet H. Bautista Cashier - Credit Division

Shiela A. Omonlay Cashier - Consumers Division

Jackie Lou Y. Gamana HR and Loans, Credit & Collection Supervisor

Warner E. Cahatian Store Supervisor

Jegger D. Ladra Shell Gasoline Station Supervisor

Cristy A. Salagantin Internal Auditor

BCC BOARD OF DIRECTORS, COMMITEES & MANAGEMENT STAFFC.Y. 2019 - 2020

BOARD OF DIRECTORS EDUCATION COMMITTEE

BUSINESS MANAGEMENT COMMITTEE

SUPERVISORY AND AUDIT COMMITTEE

HR and GOVERNANCE

APPOINTED OFFICER

ETHICS COMMITTEE

MANAGEMENT STAFF

HOUSING PROJECT TASK FORCE

MEDIATION/CONCILIATION COMMITTEE

ELECTION COMMITTEE

CREDIT COMMITTEE

I.T COMMITTEE

GAD COMMITTEE

souvenir program compiled - bukidnon community

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