Plateau Cooperative Society Records Income Surplus, Offers Tips On Financial Management

The Oasis Reporters

May June 1, 2019

Signatories at the 5th AGM of the Plateau State Hospitals Cooperative Association.
Members of the Cooperative Society at the AGM.
By Moses Gbande, Jos

The Management of the Plateau State Multipurpose Co-operative Society, Jos says it recorded a significant surplus of income over Expenditure in the 2018 financial year. President of the Co- operative, Dr. Dawan Bartholomew disclosed this, Friday during the 5th Annual General Meeting of the Association held at the Heart to Heart Center of the Plateau State Specialist Hospital.

Ha says the 5th annual (AGM) is an opportunity for members of the Association to brainstorm over issues bothering on the progress of the cooperative.
“I would like to appreciate our creator for making it worthy for you and me to witness this day. It wouldn’t have been possible without the understanding and cooperation of the hospital management. ”I pledge on behalf of these present Excos that we remain committed to the growth and development of the society and each and every one of our members.

” I am highly honored to present the 2018 annual report/accounts of this great society Tag “FINANCIAL MANAGEMENT AND COOPERATIVE ETHICS.” ‘”As we prepare our minds to deliberate on that, I would like to precisely and briefly inform you of some basic successes/ achievements recorded during the year 2018.

”Generally the operating atmosphere was peaceful The cooperation of our members was encouraging despite the difficulties in meeting up with the demands of some members. From interactions and little experience gathered, it’s usually due to lack of adequate knowledge and poor financial planning by most members hence necessitating the topic, “Financial Management And Cooperative Ethics”, to throw more light on financial management modules of the society and its members by bringing in experts to create more awareness, and educate members on how to carry out the day to day activities of the society for the growth and development of both the organization and its members.

”Our member’s ordinary savings during the period under review stands at; Ordinary savings, 2018
234,750‚263 and 220,630‚843 , while Special savings are 2,617‚021 and 3,265‚400, for 2017 and 2018 respectively.
”Our audited accounts for the year end 2018 indicate that we made a surplus income over expenditure of N12‚288‚363 respectively.

Speaking on the topic, “Financial Management And Cooperative Ethics, the guest Speaker, Emmanuel Rit Jan states the need for increased savings and investment, rather than indulging in excessive spending of incomes.
For Cooperatives to be financially disciplined and earn income, DO not spend all income, earn and invest your savings in acquiring assets, produce products or services that meet the need of others and do not over borrow.

“ The size of your income is no excuse, check your lifestyle, take control, forego pleasure and other cheep desires, take caution and come out with and action plan for your financial discipline”.

On his Part, the acting Chief Medical Director, Plateau State Specialist Hospital, Dr. Philemon Edwa commended the leadership and members of the cooperative for forming the cooperative and encourage staff of the hospital who have not joined the society to do so for their own interest. He said cooperative is key to human capital development, which according to him, it is in realization of the importance of savings that government has keyed into contributory schemes which is synonymous to cooperatives investments.

He promises the determination of his administration’s desire to take the hospital to greatness by ensuring that roads within the hospitals are tarred, as well as decaying infrastructures within the hospital are fixed up.

Greg Abolo

Blogger at The Oasis Reporters.

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