The Truth About The I-Café Coop Mess

For more than two (2) months now, the Pilipinas I-Café Consumer Cooperative (I-Café Coop) is in a state of embarrassing confusion due to the sudden departure of its two (2) key officers who left the organization with almost empty coffers. The Chairman of the Board and the General Manager of the cooperative resigned their positions allegedly because of conflict of opinion with this author over matters of policy on how the sales transactions with their preferred coop supplier must be conducted. The two former officers had immediately joined the organization of their preferred supplier upon resigning from the cooperative.

Left without key leaders, the remaining coop members requested for a Special General Assembly (SGA) to which the remaining officers acceded to but did not attend. The members in the SGA inquired about the financial status of the I-Café Coop and were informed by its Treasurer that only PhP 26,170.00 are left on the total collections of PhP 117,500.00 from members. Surprised by the figures, they inquired further about the expenses of the cooperative and the following information was given to them:

A.    Total Cash Receipts ………………………………………….. PhP 117,500.00

B.     Total Cash Disbursements ………………………..………………. 91,330.00

1) Representation Expenses ………………… PhP 2,220.00

2) Office Supplies ………………..…….……………… 450.00

3) Uniforms ………………………………….…….…. 8,500.00

4) Salary of the General Manager …….…..……… 20,000.00

5) Cash Advances to Officers

a) General Manager …………………………. 54,780.00

b) Board Chairman ……………………………. 5,000.00

6) Miscellaneous Expenses …………………..………. 380.00

C. Remaining Cash Balance ………………………….…………… PhP 26,170.00

The above disclosure is based on the actual reports of the Coop Treasurer and is intended to dispel the various speculations about what really happened to the finances of the start-up I-Café Coop. I wish to add that being just an ordinary member of the I-Café Coop, I have no say whatsoever on how the funds of the cooperative was disbursed. You may refer to my earlier blog entitled Something Went Wrong With The Coop for more details regarding the issue.