Reporters at the Davao Business Forum were told by Rosalinda E. Villaseca, Administrator of the Cooperative Development Authority (CDA), that financial management is critical to running the Cooperative.
Continuing education is needed to effectively run a cooperative. Of the 1,828 registered cooperatives, only 570 are active cooperatives. The inactive cooperatives are either undertaking rehabilitation or are otherwise being assessed.
Inoperative Cooperatives will be subject to dissolution if after two years of application are still not operating. In Davao City, 198 cooperatives have already been dissolved.
She further added: “That is why Cooperatives must follow good governance, have visionary and selfless leaders and God-fearing,”
In Davao City, there are about 155,160 members of Cooperatives.
There are also some groups that register for cooperative only for the sake of getting a grant from somewhere but later end up with nothing. She said the Cooperatives that were able to accessed fund from government through loan has the obligation to the government because public funds are subject to liquidation.
These inactive cooperatives have their financial statement hanging and so the CDA as part of reaching out to these sectors conduct dialogue with them and provide them the pro-forma just to come up with steps so that their account could move, she said.
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