Organization
Classification of Employees
The employees of the Cooperative shall fall under any of the following classifications:
- Permanent Full-Time - an employee who works for a minimum of eight (8) hours per day, five (5) days per week
- Permanent Part-Time - an employee who works for a minimum of four (4) hours per day (5) days per week
- Temporary/Casuals - all other employees
Employee Performance Appraisal
Formal appraisals of each employee’s performance shall be conducted at least every six (6) months. The evaluation shall be based on his/her position description and performance standards. Each employee shall participate together with the supervisor in the appraisal.
Employment of Relatives
Employment of immediate relatives (husband, wife, child, sibling, parent, grand parent, aunt, uncle, nephew, and niece) of any of the salaried or regular full-time employee, board member, and supervisor shall be prohibited.
Holidays Observed
The Board of Directors recognizes legal holidays, special non-working holidays, as well as university declared holidays, as provided for under the law, .
Hours of Operations
Based on his recommendations, it shall be the responsibility of the General Manager, that is, in consultation with the Board of Directors to determine the hours of operations of the Cooperative.
The Cooperative shall have Mondays through Fridays from 8:00 a.m. to 5:00 p.m. as its standard hours of operation:
Deviations from this schedule, that is to say, on emergency cases, shall be at the discretion of the General Manager. Seasonal variations shall require the approval of the Board of Directors.
Line of Authority
The Board of Directors of this Cooperative shall give full authority to the General Manager to employ, terminate, and set wages of all the cooperative employees within the guidelines of the approved wage and salary plan, except on cases where the GM is concerned. Employees shall be cautioned not to discuss personal grievances and problems or accept orders from directors, patrons, or any other employee, except the General Manager or his/her supervisor.
It shall be the responsibility of the management to communicate line of command to the employees through job descriptions, organization charts, and other media.
Pay Periods and Paychecks
Employees shall be paid their salary on a semi-monthly basis and in accordance with the Labor Code.
Personnel Records
An individual and/or personnel file shall be maintained for each employee, which shall be considered confidential. This file shall contain information such as the employee’s application form, physical report, references, withholding tax forms, yearly performance appraisal reviews, and other employment history.
An inactive file shall be maintained for at least three (3) years for individuals who have left the employment of the Cooperative.
Supervision
Each employee shall be directly responsible to his/her supervisor as indicated in the organization chart and the employee’s position description. The employee shall be accountable for all duties specified in the position description and shall be equally accountable for any additional duties which shall be assigned by the supervisor.
Wage and Salary Plan Adjustment
Wages and salaries of all employees shall be administered within the limits of the current wage and salary plan approved by the Board of Directors. Recommendations for individual wage and salary adjustment shall be based on the appraisal of job performance by the employee’s supervisor. All adjustments must be recommended by the General Manager and shall be approved by the Board of Directors prior to effectivity. All adjustments must be within the pay range and at time intervals commensurate with the Cooperative’s wage and salary plan.
Conflicts of Interest
Employees shall avoid conflicts of interest which could be construed as unethical or which could embarrass the Cooperative.
FINANCES
Accounts Payable
The Board of Directors shall direct the General Manager to ensure that all moneys owed are paid on a timely basis to avoid service charges, interest penalties, and or delinquent notices. Where applicable, bills are to be paid if cash flow and credit limits allow in time to receive any discounts for early payment.
Annual Financial Audit
The Board of Directors shall engage the services of an External Auditor who must be duly accredited by the CDA. The External Auditor must be a Certified Public Accountant and shall be tasked to audit the financial records and accounts of the Cooperative and shall be required to prepare a Qualified Opinion on the financial records/operations of the Cooperative, at the end of each fiscal year. The audit shall include, but not be limited to, balance sheet, statement of operations, source and use of funds, and the necessary supplementary schedules (notes to financial statements).
Upon completion of the audit, a full report shall be presented to a majority of the board during the official meeting of the Board of Directors. The reports shall either be approved or rejected via an official board action and shall be made an integral part of the minutes of the meeting.
Annual Operating Budget
The Treasurer, in coordination with the General Manager shall prepare or cause to prepare an annual operating budget for consideration of the Board of Directors. The preliminary budget shall be presented to the Board not later than a month prior to the date of the General Assembly. The final budget shall be passed by the majority of the Board of Directors and shall be presented to the General Assembly for approval. The Management shall operate the cooperative as practical as possible and shall be within the budget as adopted.
The Management shall be responsible in developing long-range plans that shall provide orderly growth, maintain financial stability, and meet the needs of the members being served by the cooperative, for review and approval by the Board
It would be an advantage to the cooperative to base its budget projections and pro-forma statements on the fiscal audited figures of the previous years.