Isabela City, Basilan (PIA) – The Cooperative Development Authority (CDA) in Region 9 is intensifying its efforts to monitor and improve the operational efficiency of cooperatives through financial oversight and training.
During the Kapihan sa Bagong Pilipinas session with the Philippine Information Agency, Christal Caindog, Head of the Regulatory Section, emphasized the importance of financial tracking through the submission of annual Audited Financial Statements (AFS) to monitor the financial health of cooperatives.
Regarding sa pagmonitor on the financial status ng ating mga cooperative, one of the reports to be submitted to the Cooperative Development authority annually is yong ating Audited Financial Statements,”
(Regarding the monitoring of the financial status of our cooperatives, one of the reports that must be submitted to the Cooperative Development Authority annually is the Audited Financial Statement) Caindog said.
Yong ating Audited Financial Statements ay ini-incorporate din sa ating Cooperative Assessment Information na kung saan makikita po yong financial performance po ng ating mga cooperatives,”
(Our Audited Financial Statements are also incorporated into our Cooperative Assessment Information, where we can view the financial performance of our cooperatives) she said further.
Calindog explained, the remarks on the financial status of cooperatives are visible in the Cooperative Assessment Information, which allows the CDA to identify areas that need improvement. When such areas are noted, the CDA follows up with the cooperatives and provides assistance on how they can enhance their business activities and overall operations.
In addition, Director Ruben L. Cunanan, Regional Director of the CDA, emphasized that the authority’s focus goes beyond mere assessment. The agency actively follows up with cooperatives to provide support and assistance aimed at improving their business activities. He stressed that enhancing financial stability is crucial to ensuring the longevity and success of these community-based institutions.
Further demonstrating its commitment to capacity building, Director Cunanan announced that the CDA has issued a memorandum circular outlining a free training program for micro and small cooperatives.
In fact, the Cooperative Development Authority has released a memorandum circular informing cooperatives that we are offering capacity-building programs. Through these programs, CDA will provide free training to micro and small cooperatives. These training sessions cover the fundamentals, as it is essential to equip them with basic knowledge about cooperatives to strengthen their organizational foundation,” Director Cunanan explained.
He also highlighted that the training programs include essential courses on management and governance.
“Tinuturuan din natin sila yong sa governance and management on how to manage ng maayos ang kooperatiba, (we also teach them governance and management skills, focusing on how to effectively manage their cooperatives) he added.
Through these initiatives, Director Cunanan noted, the CDA aims to empower cooperatives by providing them with the necessary tools and knowledge to thrive in competitive environments. The agency plays a crucial role in strengthening the cooperative sector, helping local entities realize their full potential. (JPA/NDR/PIA Basilan)
