The Guyana Public Service Cooperative Credit Union (GPSCCU) has laid the blame for the delays of its Annual General Meeting (AGM) at the feet of the Chief Cooperatives Development Officer of the Social Protection Ministry.
At a press conference on Wednesday to clear the air on the issue, Chairperson of the Credit Union, Patricia Went, explained to reporters that GPSCCU had submitted its audited reports for the years 2011 to 2013 to be reviewed by the Chief Cooperatives Officer; however, those documents are yet to be returned in
GPSCCU Chairperson Patricia Went along with the Credit Union’s Secretary Manager Trevor Benn at Wednesday’s press conference
order for the Union to host its AGM. She added too that the Cooperative Department was also withholding approval for the auditing of more recent financial reports.
The press conference was called to publicly inform members of the GPSCCU of the issues causing the delays in holding the AGM, which was last held in 2013 covering financial statements up to 2010. This was in light of a letter to the editor from “disappointed and frustrated” member Kirwyn Mars, back in February.
“As a financial member I am seeking urgency in the calling of this long outstanding meeting that the Committee of Management is reluctant to call and which has to be in conflict with the laws of this country,” he had stated, while calling on the Social Protection Minister to look into this grave matter.
However, at Wednesday’s press conference, Went pointed out that the Chief Cooperatives Officer on February 20, 2014, authorised the audit of financial statements for the period January 1, 2011 to December 31, 2013.
However, during the course of the audit, the Union Chair added, GPSCCU was informed by the Guyana Credit Union League – its umbrella body – that the Assistant Chief Cooperatives Officer has advised that all ongoing audits be halted until further notice.
Moreover, Went outlined that the Credit Union’s Committee of Management decided to present audited reports up to 2015, to the general membership at an Annual General Meeting that was planned for last November but never happened.
“The Committee of Management wrote the Assistant Chief Cooperatives Development Officer requesting that the Auditors be given the green light to complete the audit for the years 2014 and 2015, since it would have taken an additional two months to present to the membership an up-to-date audited report,” the GPSCCU Chair outlined. “The Assistant Chief Development Officer, by way of letter dated September 21, 2016, did not grant the permission to have the audits for 2014-2015 started, stating that the said audits would only commence after holding the Annual General Meeting for the audits 2011-2013. This would have been two meetings and delaying members to have two benefits.”
However, she noted that the planned November AGM was impossible, since the Credit Union did not receive the audited reports for 2011 to 2013, which remain in custody of the Chief Cooperatives Development Officer.
Media operatives were told that these three audited reports were still being held because the Department of Cooperatives, on checking the documents, found some “flaws” which were to be corrected by the auditor. The balances shown as “Audit and Supervision” Fund were allegedly incorrect. Efforts by Guyana Times to contact the Chief Cooperatives Officer on Wednesday were futile. However, this newspaper was told by a staffer that the “fault” was not with the Cooperatives Department but he declined to further expound. According to Went, there were several meetings with the Minister responsible for Cooperatives and the Department of Cooperatives, but the audited reports have still not been returned, thus preventing the Credit Union from convening an AGM to approve dividends to be paid and to continue with the audits for 2014, 2015 and 2016.
Nevertheless, the Committee of Management has agreed to have a General Members’ Meeting this month-end not only to bring members up to date, but to get their views on the matter to determine the way forward.
