Title:

“ Financial Management Operations

of Multi-Purpose Cooperative”

Researchers:
Hermida, Michelle
Maravillas, Jayvee
Ocampo, Judy Ann
Ramos, Mark Bryan
Part I: Status of the Cooperatives
Direction: Please fill in the needed data or check the appropriate space given.

Organizational Structure
______ No. of members ______ No. of Board of Members
______ No. of committee Member ______ No. of Management Staff

Classification as to membership
______ Regular Member
______ Associate Member

Services Offered
______ Savings ______ Consumer Trading
______ Credit ______ Marketing

______ others (please specify)

Financial conditions
2017
______ 1,000,000 or below
______ 1,000,001 - 2,500,000
______ 2,500,000 – 4,000,000
______ 4,000,000 and above
2018
______ 1,000,000 or below
______ 1,000,001 - 2,500,000
______ 2,500,000 – 4,000,000
______ 4,000,000 and
Part II Constraint Encountered
Direction: please put a check on the box which
correspond your answer based on the given scale.
5 – Outstanding
4- Very satisfactory
3- Satisfactory
2- Fairly Satisfactory
1- Poor
Cash Receipt and disbursement •5 •4 •3 •2 •1
• Only authorized personnel are exercising cash receiving and
disbursing functions.

• Employees handling cash are provided with safe

• Pre-numbered official receipts are used in numerical sequence in
every transactions involving receipts of cash

• Cash receipts are deposited intact and as frequently as possible.

• All cash disbursement are properly authorized

• All cash receipt disbarment are always supported by approved pre-
numbered vouchers and supporting documents.

• Entries in cash book are up to date

• Cash count is being conducted regularly by internal auditor
• Monthly reconciliation statement for the balances of cash receipt and
disbursement were prepared

• There is proper internal audit for cash receipt and disbursement

• Other, please specify

Collections •5 •4 •3 •2 •1
• Receivables are supported with documents to justify claims
against debtors

• Billing statements are made and given up top the debtors to

demand payments

• The billing documents are properly approved and numbered for

appropriate control.

• Maintains updated records and subsidiary ledgers for the accounts

and borrowers.

• Follow-up collections of payments of delinquent borrowers

• Penalties are charged for late payments and debts
• Litigation process for delinquent borrowers who refuse to pay.

• Uncollectable accounts are written off by properly authorized

personnel.

• Receivable are aged periodically

• There is periodic review of accounts receivable
• Other, please specify
Payables •5 •4 •3 •2 •1
• There is systematic analysis and review in the availing loans
including the cost of the debt.

• There is a thorough review and selection of supplier

merchandise.

• Pre-numbered requisition slip purchase is used

• Supporting papers for all payables filed systematically for ready
reference.

• There is established procedures of confirming accounts payable

• There is systematic analysis and review of long outstanding

obligations for the purpose of clearing them for the accounts

• Accounts payable are properly monitored for the updated

payment of the principal and interest

• Payables are paid when due to avoid penalties and interest

• Subsidiary ledgers for payables are kept to maintained by
cooperative

• Recollection is done periodically to establish correct balances of

the accounts

• Other, please specify

Payroll •5 •4 •3 •2 •1
• All hiring, changes in rates, dismissal and resignations are
properly maintained by the cooperative
• Time records books are properly safeguarded controlled and
reflects up to the date of information
• Daily time records checked a, verified approved by the personnel
in-charge
• Application legal requirements( withholding tax, SSS, Phil Health
premiums,) were deducted to the corresponding agencies

• Other information are reviewed and approved by the authorized

personnel
• Salaries are paid on time
• Payments of employment salaries is in consonance to the contact
of agreement entered into the cooperative
• All unclaimed salaries are deposited back immediately to the
cooperatives
• Payroll is properly supported with the necessary documents (DTR)
and employees sign upon receipt of the salaries.

• Contract are reviewed and additional or deduction in the

remuneration is evaluated
• Other, please specify
Inventories 5 4 3 2 1
1. Purchases of inventory are ,and after proper approval of the
authorized personnel
1. Requisition issue vouchers are always checked as to pricing,
extension and addition.
1. Receipt of times properly documented, inspected and accounted
for
1. A record is kept for all incoming store supplies, materials,
furniture and equipment
1. Person who supervised the store is different from the person
who managed the store records
1. There is existing system for controlling inventory items in the
storage an daces is limited authorized personnel/ employees
only
1. Inventories are physically safeguarded such as through the use
of fenced compound, store room and similar areas restricted
accessibility that are attended to by security system

1. Quantity balances and supplies and ledger control verified by

the physical count at least once every calendar year
1. Total amounts of the inventories counted, are reconciled with the
related general ledger accounts.
1. Discrepancies between supplies ledger cards and physical count
are properly investigated and accounted for.
1. Other, please specify
Financial reporting •5 •4 •3 •2 •1
• There is cooperative bookkeeper or account in charge of
preparation of financial reports
• Cooperative maintain an accountancy system with accurate
records of all the transactions entered by the cooperative

• Necessary date are available from the accounting system for the
preparation of the reports
• Financial reports include balance sheet, income statement,
statement of cash flows, note to financial statements
• Financial Reports are prepared monthly/quarterly / annually.

• Reconciliation statement is being made whatever accounts in

the financial reports are not balance.
• The financial reports are audited annually by an external auditor.

• Financial reports are presented to the general assembly

annually.
• Financial reports are submitted on time to CDA and other
reportorial bodies.
• Financial reports are readily available in the premises of the
cooperative for the public information.
• Other, please specify
 Part III. Constraints Encountered in the operations

Direction: Please put a check on the box which

corresponds you answer based on the rating
scale below:

5- Very much Serious

4- Much Serious
3- Serious
2- Slightly Serious
1- Not Serious
Constraints •5 •4 •3 •2 •1

• Poor Management practices.

• Incompetent and insufficient manpower

• Insufficient policies and implementationrtgyh

• Lack of cooperation from members

• Delinquent Members

• Unresponsive committees

• Unpaid external Borrowers

• Demotivated members and manpower

• Delayed submission of reports

• Remuneration to employees are not commensurable

• Other, please specify

Part IV. Statement of the Problem

1. What is the Status of Mabini Multi-

Purpose in terms of:
• Organizational Structure
• Classification as to membership
• Services offered, and
• Financial Condition?
2. How significant is the agreement on the
rank orders of the perceptions of the responding
along the aforementioned aspects?

3. What constraints were encountered by

the management operations of the cooperative?

4. What policy recommendations can be formulated

to improve the financial management operations of
mabini multi-purpose cooperatives for quality
service?