The General Assembly Meeting for CY 2018 for NAPOLCOM Multi-Purpose Cooperative (NAMCO) in Region 5 was held on August 14, 2018 at the Lobby of NAPOLCOM Regional Office No. 5, Legazpi City. All the employee-members attended.
Ms. Amy N. Zaragoza, NAPEMA Representative for Region 5 presented the Operations Plans and Budget (OPB) of NAMCO for FY 2017. The same serves also as its Financial Statement as it includes information about the results of its operations, financial position and cash flows.
During the open forum, various issues and concerns were raised including the status of the passbooks, non-receipt of dividends by some members, differences between dividends and patronage and relationship between NAPEMA and NAMCO. The OPB cum financial statement was also scrutinized especially as why the funds allocated appear to have not been utilized. Suggestions were also made including that requiring NAMCO to provide the regional office, in lieu of the passbooks, copy of their ledgers containing contributions of members.
Dir. Josephmar B. Gil, MPSA, CESO IV, Regional Director of NAPOLCOM Region 5 gave the closing message. He encouraged employee-members to support the undertakings of the cooperative. He also gave assurance that the various issues and suggestions that came out during the open forum will be brought to the NAMCO officers through a formal letter to be signed by him.