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• Jul 10, 2023

July Monthly Regular General Meeting

Our monthly regular meeting, held last July 10, was a productive gathering where several important topics were addressed. Of particular focus were the processes involved in the computation of patronage refund and interest on share capital. The meeting saw active participation from members, with the Accounting and Audit departments taking the lead in providing valuable insights.

The primary objective of the meeting was to enhance everyone’s understanding of the computation methods for patronage refunds and interest on share capital. It was emphasized that these calculations are based on the financial standing of the cooperative, which should be accurately reflected in the Audited Financial Statement.

During the discussion, the Accounting and Audit departments presented a comprehensive overview of the factors considered in the computation process. They explained the significance of reliable financial statements and stressed the importance of maintaining accurate records. The departments clarified any questions and concerns raised by the attendees, ensuring that everyone had a clear understanding of the computation methods.