Management

MANAGEMENT COMMITTEE 

Dr.Guyo S Huka                                            -Chairman

Mr.Peter Wekesa                                           -Vice Chairman

Mr.Franco Mutua                                          -Treasurer

Ms.Josephine Naitore                                   -Secretary

Dr.Charles Njati                                            -Credit Committee

Ms.Janet Wanjiru                                          -Credit Committee

Mr.Job Lincoln Mutuma                              -Credit Committee

  • The management committee shall be elected by and from the members and shall consist of seven (7) members. There shall be an executive committee which include the chairperson, vice-chairperson, treasurer, and honorary secretary, all of whom shall be elected by the managing

One third of the management committee will be retiring annually and those retiring will be eligible for reelection.

  • a) meetings of the committee shall be held regularly but at least once each months and at other times when necessary. At least five of the total members of the committee shall form a quorum for the disposal of

b) If a member of the committee fails to attend 3 consecutive meetings without being excused there from or without reasonable cause, or otherwise fail to perform his duties, his position may be suspended pending the decision of the general meeting and the vacancy filled as provided in these by-laws.

 

ELIGIBILITY FOR MEMBERSHIP TO MANAGEMENT COMMITTEE/SUPERVISORY CCOMMITTEE

No person shall be eligible for the membership of the management committee or remain member of such committee if:-

  1. He/she is not a member of the society.
  2. He/she is under 18 years of age.
  3. He/ she receive any remuneration, salary or other payments from the society save in accordance with the act, the rules and the by-laws.
  4. He/she has a record of lending money to members on his/her own account; be seen to complete with the society in business.
  5. He/she is under discharge bankrupt or is of unsound mind.
  6. He/she shall be adversary named by the commissioner or his/ her representative in a an inquiry report adopted by an annual or special general meeting for mismanagement or corrupt practices while still a member of the committee
  7. He/she has been convicted of any offence involving dishonesty or has been imprisoned for three months or more
  8. He/she has been convicted of any offence under the act or rules made there under; he/she has any un clear debt owing to the co-operative society at the end of the society’s financial year other than in respect of a loan under the provision of rule 41 or these by-laws .
  9. Is not an active member/ customer of the BOSA and FOSA respectively
  10. Is not able to read and write.
  11. Is a committee member in two other societies?
  12. If a committee member retires from the profession he will be allowed to complete his/her term but will not be eligible for reelection. He/she may continue with the society membership under the retirees programme. The same applies to the supervisory committee.

 

DUTIES AND THE RESPONSIBILITIES OF THE MANAGING COMMITTEE

The committee shall be the governing authority of the society and subject to any directions from a general meeting; it shall direct the affairs of the society. Its procedures, powers and duties shall be as prescribed in the act, rules and these by-laws and in particular it shall:-

 

  1. Observe in all its transaction the act, the rules and the by laws ad prudent business practices.
  2. Generally directs the affairs of the society;
  3. Act upon all application of the membership;
  4. Ensure that true and accurate records and accounts are kept of the society’s Money and its properties, capital reserves, liabilities and income and expenses.
  5. Decide and recommend to the annual general meeting for approval the amount and kind of surety bond, or other security, which shall be required by the management committee, and the staff having the custody of, or handling funds or property of the society.
  6. Recommend from time to time the interests rates of loans, the maximum maturities and terms of payments or amortizations of loans to members; and the maximum amounts that may be loaned with the security to any member and present these recommendations to annual general meetings.
  7. i) Lay before the annual general meeting a balance sheet and final                                                                          ii)File with commissioner an annual return together with certified true copy of balance sheet and annual accounts.
  8. Recommend to the annual general meeting proposal for disposal of the surplus (if any).
  9. Recommend to the annual general meeting the divided and bonuses to be paid on shares and the interest refund if any to be paid to borrowers.
  10. Prepare and lay before the general meeting for adoption, the estimate of income and expenditure for thee next financial year following the annual general meetings.
  11. Fill vacancies where the number falls below five occurring in the management committee between the general meetings.
  12. Fix commission payable by members /customers.
  13. Determine prices of all merchandise bought and sold to society members or non-members.
  14. Regulate matters regarding products marketed by the society including setting rules relating to quality standards.
  15. Implement investments of the society.
  16. Execute a conveyance of the property.
  17. Carry out borrowing and lending operations of the society in accordance with the acts and rules.
  18. Designate depositories, for the funds of the society.
  19. Employ, dismiss and fix the compensation of a general manager and such other employees with accordance with terms and conditions of employment as approved by the commissioner.
  20. Impose fines under (by-law 78)
  21. Approve transfer of shares/deposits within members.
  22. Determine the interest rates, which shall be paid on deposits and on borrowed money.
  23. Supervise the collection of loans to members and recommend the write off of uncorrected accounts;
  24. Affiliate the society to national and international co-operative union of saving and credit societies subject to the approval of the general meeting
  25. To obtain insurance cover of the loans given by the society.
  26. a) Recommend to the annual general meeting the name of auditors for appointment from list of auditors approved by the commissioner.                                                                                                                                b)Perform or authorize any actions consistent with the act. Rules and these by- laws, unless specifically reserved for the general meeting.                                                                                                                                         c)Perform such other duties that the general meeting may from time to time direct.
  • In the conduct of the affairs of the society, the members of the committee shall exercise the prudence and diligence of ordinary men/women of business and shall be held individually and severally responsible for any losses which are sustained through any of their acts or failure to act which are contrary to the Act, the Rules and these by-laws, or the directions of any general meeting.
  • The managing committee may delegate to any members of the committee or employee of the society such of its powers, as it deems necessary.
  • No expenditure shall be authorized by the managing committee unless it is provided for in the estimates formally approved by the general meeting.
  • All business discussed at committee meeting shall be recorded in a minute file, which, shall be signed by the chair person of the meeting and general manager who were present at the meeting to verify that, in their opinion, the minute are true and complete record of all important matters, which were discussed or decided at the meeting.

At the next meeting- after approving any alterations or variation which shall be written immediately below the above signatures, and not as alterations to the original record, the meeting shall authorize its chair person to sign and date the final record.

SUB-COMMITTEE

  • The managing committee may appoint sub committees, such as education committee, FOSA, investment committee etc, as may be deemed necessary or approved by members in a general meeting. Sub committees shall consist of person drawn from the managing committee except the supervisory committee.
  • A member of the managing committee or other sub-committee, shall cease to hold office if he/she ceases to be a member of the society.
  • The managing committee may delegate to the sub committee such of its powers and duties under these by-laws as it deems fit.
  • The sub-committee shall hold such meetings as the business of the society may require but not less frequently than once in every three months.

SUPERVISORY COMMITTEE

  1. Their Shall be a supervisory committee of the society that shall be elected by the annual general meeting from amongst members of the society. It shall consist of three members whose qualifications shall be set in by-laws 41. In accordance with the Cooperative Rule 2004, one committee member shall be retiring every year and he/she will be eligible for re-election.

However a member of the supervisory committee wishing to contest for a management committee position will have to relinquish his/her position as a supervisory committee and stay for two years or more before being eligible for election as a member of the management committee of the society.

  • The duties of the supervisory committee will be among the following:

To generally counter-check the effectiveness of the society’s internal financial control system by:

  1. Ensuring that standardized accounting systems and procedures are implemented.
  2. Carrying out investigations and audits as deemed necessary for the interest of the society and the members.
  3. Confirm cash and bank accounts regularly and reconcile with records and make necessary recommendation to the managing committee and the commissioner.
  4. To generally counter-check the effectiveness of implementations of credit policy and other products/services provided to members.
  5. Checking loan applications and ensure that they are in conformity with the loan policy.
  6. Checking delinquent loans among management committee and society members.
  7. To prepare reports and present them to the management committee, the annual general meeting and the commissioner.
  8. The supervisory committee shall not perform the duties or exercise the powers of the managing committee.

 

CHAIR PERSON AND VICE-CHAIR PERSON OF MANAGEMENT COMMITTEE

i) The powers and duties of the chair person shall be to:

  • Convene all meeting of the society, prepare or cause to be prepared the agenda of society
  • Preside at all general meeting and meetings of the management committee and ensure that all resolutions and directives of the annual general meetings and the committee are carried out.
  • Directs the affairs of the society in conjunctions with other elected officials.
  • Perform such other duties as may be directed by the management committee with accordance with the provisions of the act, the rules and these by-laws.
  • The vice chair person shall perform all duties pf the chairperson during his/her absence and such other duties as may from time to time assigned to him/ her by the committee.
  • In the absence of the chairperson and the vice- chairperson, the committee shall elect from amongst themselves an acting chairperson to chair the meeting.
  • To supervise the compliance of the front office (FOSA) if any with the rules.

SACCO EMPLOYEES

The committee shall have the powers to appoint one or more paid employees to carry out such duties as may be required by the committee in accordance with the terms and conditions of employment as approved by the

The committee shall require all employees of the society to provide security for the employment in such sum as committee may deem necessary.

 

THE GENERAL MANAGER

 

  • The management committee shall appoint a general manager who shall be the chief executive of the society. The duties and responsibilities of the society general manager shall be as follows:
  1. To generally advise the management committee and implement it policies and decisions.
  2. To ensure the society’s correspondence is correctly attended to.
  3. To supervise the work of all staff and ensure that the business is conducted in a proper manner.
  4. To record minutes of the committee and general meeting.
  5. To ensure that proper and accurate books of account, records and returns are prepared and kept in safe custody and that regular financial statistical and operational information are prepared and submitted to the management committee and he/she shall be responsible for ensuring the accuracy of that information and have custody of the same.
  6. To be responsible for the security of funds and assets of the society.
  7. To arrange in consultation with chairperson the calling of meeting as and when neccessary.
  8. To ensure that all rents, rates, levies and debts due from and to the society are paid by the due dates.
  9. To ensure that all statutory contributions/ deductions such as NSSF and PAYE are correctly calculated and that all amounts due and necessary returns are submitted by the due dates.
  10. To generally manage and cause to be managed by the affairs of the society and perform any other task as may from time to time be directed by the management committee.
  11. To ensure filing of annual returns, audited accounts, indemnity forms and declaration of wealth by the committee.

 

CREDIT SUB COMMITTEE

  • There shall be a credit committee that consists of three members of the management committee non-of whom shall be members of the executive committee. The credit committee shall be chosen at a meeting of the managing committee within seven days after election of the management committee.

 

FUNCTION OF THE CREDIT SUB COMMITTEE

 

  • The credit committee shall hold such meetings as business of the society may require, but not less frequently than once a month.
  1. The credit committee shall inquire carefully into the character and financial conditions of each applicant for a loan, and of his guarantors, if any, so as:
  2. To ascertain his ability to repay fully and promptly the obligations incurred by him.
  1. To determine whether the loan is for a worthy purpose and will be probable benefit to the

 

  • The credit committee shall Endeavour diligently to assist members to solve their financial

 

  1. The credit committee shall make such reports to the management committee as it may require.

 

THE EDUCATION SUB COMMITTEE

 

  1. There shall be an education committee that shall be elected from the members of the management committee for a term of three years and shall consist of three members. The board shall elect the chairman and the secretary from the committee. The duties and the responsibilities of the committee shall be as follows:-

 

  1. Draw up seminar and training programmes for management committee, members, and staff of the

 

  1. Organize education programmes for the

 

  1. Prepare budget proposal for education activities and present to the management committee for inclusion in the society

 

  1. Perform marketing of the society products among members and potential members.

 

THE FOSA SUB COMMITTEE

 

  1. There shall be a FOSA committee that shall be elected from the members of the management committee for a term of three years and shall consist of 5 members. The FOSA committee shall be chosen at a meeting of the management committee within seven days after election of managing

 

The FOSA  facility shall be established as need arise

FUNCTIONS OF THE FOSA COMMITTEE

  1. a) The FOSA committee shall hold such meeting as the business of the society may require but not less frequently than once a

 

  1. The FOSA committee shall inquire carefully into financial soundness of the FOSA in respect to the maintenance of the required liquidity levels, customer care, security, general operations
  2. The FOSA committee shall formulate various products in the consultation with the managing