January - llarch 2fl15

#,,c@ffipswcRCooperotive Community News and Features %O(Rffi ,Tmerrl t IgrT AIW gERyAF

trlltlttlrllttlttlttlllrlrlllrllrlllllllrltrlllltllttrrtrltlttrtttttltt

NEWBBCGGBINAUG

ta$io City, Phil lppines Volunn 7, Ilsue I

It8t0Ew8 I88AE:

Grdnnan's Corner

ECC Proflle

EQ( 11e16t 46th AnnualGmnl Asscmbly

SfiOrl^t ... Thc BBCCClddng (A Dcdlcatlon)

Plrrorlels

?looddr

br*

GC Bcctlons 2005: Old.nd Xd Frccs

]loslng Commlttcc

f.guLr llcmbcrr as of FlrstQnncr 2005

ECComlc tlfc

Ip's 5ro at BBCCC

Fru thc llanager's Desk

$-.nrcnt of Cash Flow

Advrrtlsercnts

The new seven-storey BBCCC building was inaugurated on April 17, 2005 amidst thejoy and euphoria of coop members, BBCCC officers and staff, and guests and coopsupporters.

The inauguration activities included a Eucharistic Celebration, and blessing of thebuilding, which were officiated by Bishop Carlito J. Cenzon, of the Diocese of Baguio-Benguet, and Rev. Father Mar Arenas, and the formal inauguration ceremony, namely,the cutting of the ceremonial ribbon and unveiling of the BBCCC plaque by a multi-sectoral representation of the coop membership. The ribbon cutting and unveiling of theBBCCC plaque were done by a blind couple, Rolando and Martha Bitaga of the NorthernLuzon Association For the Blind, assisted by SPO3 Samuel Poe of the PNP-Baguio, Engr.Jun Sanchez of 95.1 Love Radio FM, Leticia Aliga of the business/vendor sector, MalanaCadawing of the General Services Office of the City of Baguio, and Dominga Cortez, ofthe professionalgroup, all BBCCC members.

ln conjunction with the inauguration, the new set of BBCCC officers (for fiscal year2005) was inducted into office by Judge Fernando P. Cabato, Presiding Judge, RegionalTrialCourt, Branch 62,La Trinidad, Benguet.

Ably and hilariously emceed by Amado Jesus Cendafla, BBCCC General Manager,the induction program was highlighted by the valedictory address of the immediate pastBBCCC PresisdenVChairman of the Board, Atty. Renato C. Fernandez, and the handing

over of the gavel ofby the

outgoing Chairmanto the incomingChairmanBoard, Atty.D. Padang,acceptanceby the latter.

T

of theBernardand thespeech

occasron wasgraced by guestsand visitorsrepresentingestablishments/banks havingbusiness ties withBBCCC, and coopsfrom Manila andother provinces.

(Continued on page I l)

Page 2 rhe BBCCC C(DPSERVER January - March 2005

GHnlRmRn't oonncR. . .By: Atty. Bernard D. Padang

Chalrman of the Board of Qlretors and President, BBCCC

The BBCCC Buitding is dedicated to, and owned Qy, the Cooperative members; they deserue fhe besf. /t isintended undoubtedly to serue wellthe Coop Members.

Our BBCCC Building was financed solely frcm the exipting assefs of the Coopentive. /t is absotutety true that not asingle centavo was bonowed frcm any lending enfu'for the construction of the Buitding. We hive futt faith incoopentivism and among the morc than Fifteen Thousand members of the Coopentive.

As fhe Board of Dircctors and other officerc of the Cqopentive decided to erect a building the Coop members cantruly ca,ll their own and which is now a rcali$, the dedication and work for the general welfare continue. t catt upon allthe Coopentive members to move on with greater rcspoitsibility and support so that our Coopemtive will evolve fasterin development and become ever stronger.

It is not only.in saving rcgulady or bonowing wisely tttat the cunent members can contribute but equally in payingprcmptly their loans'and other obligations to the BBCCQ as well as by recruiting rcsponsibte individuals to becomeCoop Members. We welcorne everybody qualified to join us. Come to the Coopentive office and present as an initialrcquircment a certificate of rcgular employment or busrness permit o;r any other rcliable document to prcve source ofacceptable income.

When the name "cooperctive" is rcad or uttered it must be BBCCC.

ooooooooooooo ooooooooooooooBBtt0 pn0lr[]

lndeed, BBCCC has come a long way. From a mere15 original members, and a capital of P250.00, ten BaguioTeachers Credit Union, later Baguio Community CreditCooperative 1961, and still later, the Baguio-BenguetCommunity Credit Cooperative,, effective 1976, hasbecome more than 15,000 members and with assetsamounting to P620M.

From a single credit service cooperative, BBCCC nowhas mu lti-services: Loans, grocery, transportation, lod gin g,

training not only for membership updating and upgradingbut also to livelihood or economic empowerment as wellas for personal and social development.

It has organized a Foundation - the BBCCCFoundation to address the many and one requests forcompassionate understanding to humane need in itsvarious forms and aspect, education, medical, etc. TheFoundation eloquently dramatizes BBCCC's response andimplementation of a cooperative's social dimension. Thescholarship program if the Foundation helps forty (40)young high school students from the marginalized sectorthrough a four-year financial subsidy. The out-of-schoolgrocery monthly allowance to some 100 young waifsedable them to procure simple daily needs for personalhygiene and grooming.

lndeed, the sacrifices and hard-work of our earlyleaders and members who represent a cross-section ofsociety, professionals, drivers, policemen, janitors,

carpenters, vendors, etc. have made what BBCCC istoday rightfully an able assistant of Baguio & Benguet inpoverg - alleviation and good governance!

BBCCC HOLDS 46TH ANNUALGENERALASSEMBLY

The Baguio-Benguet Community Credit Cooperative held itsAnnual General Assembly on March, 20, 2005 at the GonzagaGym (formerly SLU Boys High School), St. Louis University.

Registration started at seven in the moming, followed by aHoly Mass officiated by Fr. Benny Castafieda at eight thirty.After the Mass, Atty. Zosimo Abratique, interim chair of theElection Committee explained the election rules andprocedures, and presented the different candidates who werepermitted to deliver their short campaign speeches.

The opening program commenced thereafter, openingan invocation led by Engr. Jose Garcia; followed by the singingof the Pambansang Awit led by Mrs. Anita Pefla. Subsequenty,Director Amparo Rimas gave the welcome address.

The business portion was presided by BOD Chair RenatoFernandez who broke the ice with a very substantial andrelevant message. Committee reports came in next starting withthe Manager's Report. An open forum, ably moderated byDirector Bernard Padang, helped a lot in enlightening themembers regarding the operation of the coop during theprevious year, as well as coop principles and practices.

Plaques of appreciation were awarded to two directors whohad to 'graduate" in view of the term cap for directors inaccordance with law, namely, Atty. Renato Fernanadez andAt$. Ruben Corpuz.

And finally, distribution of the most awaited patronagerefund and interest on share capital made the members' day.The fiscal year 2004 yielded a net surplus of Php52,014,241.00, and afier removing the deductions as mandatedby law like the reserve Fund (10% of Net Surplus), CoopEducation and Training fund (5olo of Net Surplus), and OptionalFund (5olo of Net Surplus), the amount of Php 41,61'1,401.00was made available for distribution to the general assembly.

rhe BBCCC C(DPSERVER January - March 2005 Page 3

The BBCCC BIIILIDING(fr DeDtefrTtoNtTHI5 EDIFICE 5TANDS PROUD AS THECONCRETE EXPRE5SION OF THE 5PTRITOF COOPERATTON, SOLIDARTry, ANDEMPOWERMENT OF THOU5AND OF

ORDINARY PEOPLE, 9BCCC MEMBER5 ALL,TO ACCOMPLI5H EXTRAORDINARYFEATS TO CONTROL THEIR RESOURCES,

DETERMINE THEIR LTVEs, AND 5HAPETHEIR FUTURE TOoETHER THROUGH

SELF.HELP AND MUTUAL AID FOR ANDAMON6 THEM5ELVES AND THEIRCOMMUNITIE5. IN THE5E HALL5 THE

UNDERsERVED 6RAsSROOT5 MUsTVALUE THRIFT THROUGH SAVTN65,TAKE PRIDE IN WORK AND 5HARTN6,AND 5EEK PRO6RE55 THROUGH UNIryAND 5ERVICE. THTS I5 OFFICE TO ALL

COOPERATOR5 WHO FREELY POOL INSHARES FOR IT TO BE, AND ALWAYS, BE

THE 5OUL OF COMMON BOND, THE

HEART OF HUMAN DEVELOPMENT. WE

WELCOME ALL WHO NEED AND CAN USE

OUR sERVTCEs, WHO RE5PECT THEIRFELLOWMEN AND HAVE TRU5T IN 6OD.

CDITORIAL

wMich CnnlfrO

THE BBCCC COOPSERVER

IS A QUARTERLYNEWSLETTER OF THE

BAGUIO-BENCUETCOMMUNITY CREDIT

cooPERATTVE (BBCCC)WITH OFFICES AT NO. 56COOPERATIVES STREET,CORNER ASSUMPTIONROAD, 2600 BAGUIO

CITY, PHILIPPINES.

CONSULTANTS:TelNos.: (074)442-6603 ChapB&lARDD.pADAlc(074144-641s OnESSf. CntOnfrn

10741442-5872OFFICIAL PHOTOGRAPHER:

TefeFar: (074) 4/t4-4993 I{aRMA M. Ucapl/t

Page 4

Ttre April r7 Inaugur.tionof the BBCCC building alsomarked the induction ofthe 'new-and-old" set ofofficers of the Coop for theyear 2oo5.

We were honored by thepresence of JudgeFernando P. Cabato as theInducting Officer, andguests from differentpartner establishmentsand other Cooperatives.This year's induction wasalso considered special asthe officers took their oathbefore a multitude ofspectators.It has been howmany years since the oath-taking of the officershappened in front of alarge croud.

Another event whichtranspired thatmomentous day was theawarding of the employeescelebrating theiranniversaries in theBBCCC. Benjamin Sison,one of the BBCCC Drivers,and Pacita Balancio,Purehasing Officer,received their Plaque ofRecognition for their ten-year service anniversary.Not in the picture isanother service-awardee,I€ni Solajq who hasserved in the BBCCC forfifteen )€ars.

To the new-and-oldofficers and the staff, mayyour fervor for servicedoubly increase as ourCoop finds marks in thehearts of Baguio'Benguetpeople! Mabtrhay andBBCCC!

& $tDUSrUi 0r otn

f***,iW

l

rhe BBCCC C(DPSERVER

lltu0rr*tTtor 0ffffm

January - March 2005

***

'-S eX

qs &na:tdil,lo

)

w

ilt

sf"

rhe BBCCC C(DPSERVER January - March 2005

SPEECH.,..;::

'spEncH...

Itl

(L-R) Judge Cabato giving his message totre BBCCC.Rev. Fr. Mar Arenas of Holy Cross ParishCredit Cooperative in Valenzuela.Aqv. Renato Fernandez giving hisvzledictory address.Atry*. Bernard Padang, in his acceptancespeech as the new Chairman of theBoard/President of the BBCCC.

Cretreral Manager Jess Cendafia and Atty.Fernandez give the "spanking" to Atty.Padang as he officially receives the duties

d responsibilities as the new Chairman of*6e BoardlPresident of the BBCCC.

Page 5

ilfi

SPEECH...

t

rySPEE '*

.:

phu*s

'GM Cendafia and Dir. Gayo pose withJudge Cabato and other guests frompartner establishments...

qr*

*-q*y,*

I

f&e* t

Page 6 rhe BBCCC C(DPSERVER January - March 2005 rhe BBCCC COOPSERVER ,"nu"., - March 2005 Page 7

ffiry{'a

-"t I

APRIL t7r 2oo1 marked a:important day in the historyof the BBCCC-Ih e inaug ur atg gf-ttsbuildinglA structure long-awaited.....A landmark has risen.... .er-:hed in the hearts of themembers....Mo.buhay ang BBCCC!

The April L7, 2oo1 festivits fittingly started with theEucharistic Celebration hel at the full-packed BBCCCConference Hall A locate@t the 4u' floor. Officiatingpriests were His Excellency Fhop Carlito Cenzon and Rev.Fr. Mar Arenas.

It was followed by the blesrrg of the building. No otherthatr His Excellency BisholCarlito Cenzon blessed theBBCCC Building. MembersStaff, Guests, and Officersgraced the momentous event

The Cutting of the C< rri ^ ?'ibbon was headed byBBCCC Members RolaYcloano Martha Bitaga, SPO3

Samuel E. Poe, Engr. Jun Srchez, Leticia Aliga, MalaniaCadawing, and Dominga B. (rtez.

&

nffi1.

1.02.0

3.0

HOUSING COMMITTEED. UPDATING OF PROJECT COSTS

Engr. Tabdi has been busy gathering updated pricesmaterials to serve as basis in re-computing the project costs. 'lfollowing expenses have been arived at after the canvassed: I

SUMMARY

Items Description PROBABLE PROBABLECOSTOF COSTOF

CONSTRUCTION CONSTRUCTION(Previous) (Present)

EARTHWORKS Php.6,064,751.00 Php7,298,217.34ROADWAY Php. 5,334,692.00 Php 6,414,638.33CONSTRUCTIONCOMBINED DRAINAGE Php. 3,622,793.00 Php 4,806,700.42SYSTEM

4.0 WATER SUPPLYSYSTEM

5.0 WATER DISTRIBUTIONSYSTEM

6.0 SLOPE PROTECTION Php. 1,699,978.00 Php 2,446,7A230STRUCTURES

7.0 ELECTRICAL DISTRIBUTION Php. 2,563,090.00 Php 2,725,313.76SYSTEM

8.0 ADDITIONAL WORKS / Php. 1,374,800.00 Php 1,832,087.41INCIDENTAL STRUCTURES

9.0 PROJECTMANAGEMENT Php.1,200,000.00 Php1,440,000.0010.00 MARGIN OF SAFEW Php.4,727,926.A0 Php5,673,511.20

TOTALS Php 27,653,410.22 Php34,766,921.42

Note : ltem 4.0 Water line from source - NOT YET INCLUDED

Furthermore, Engr. Tabdi is redesigning the drainagesystem so as not to pollute the water sources like the Bued Riverand other natural water ways, to lessen if not eliminate theadverse environmental effects especially on the low-lying areas.

E. CHIPSAn amount of two million four thousand seven hundred

thirty pesos (Php. 2,004,730.00) was generated under theCooperative Housing lnvestment & Planned Savings as ofDecember 30, 2004.

F. PLANS FOR 2OO51. Secure the Development Permit2. Proceed with road construction, both the access and

subdivision main road3. Prepare proposed housing policies for Board approval.4. Subdivide and award the economic lots5. Submit design schemes for the socialized housing with

costing6. Continue the conduct of Cooperative Housing Bearers

Course and promote the generation of more savingsunder the Chips Program to a broader and morecomprehensive education of the member-applicants.

7. Prepare a tabular presentation of the data of applicantsfor easier access for award.

N,B. This paft of the Housing Committee Repoft was inadvertentlyomifted in the AnnualGenerclAssembly Repoft FY 2004.

Php. 791,660.00 Php 1,133,784.60

Php. 987,894.00 Php 995,966.06

rhe BBCCC C(DPSERVER - March 2005

BBCCC ELECTTONS 2005 -OLD AND NEW FACES

The two incumbent members of the Board, Mrs-Emy Fuerte and Mr. Oca Adversalo, were re-electedanew for their last term. They were joined by formerLegal Committee member Atty. Nelson Gayo, a firsttimer, and the returning Mr. Mar Valdez, former Boardmember and served as EleCom for the past threeyears. Former BBCCC employee under the LoansDepartment, Mrs. Ana Dulnuan edged Mrs. NidaFlavier, the Board Secretary for the past year, for thelone Audit and lnventory position. Mrs. AuringAmbanloc and Mrs. Belle Ronquillo, were againunopposedfor the Credit Committee. Ms. LizaLaconsay and Mr. Bong Tadeo were also re-electedas members of the Election Committee and werejoined by former Elecom member, Dave Delinela(please see note hereunder).

To show how every'candidate fared in the pastelection, please find below the complete results whichincludes the votes garnered by each candidate:

For Board of Directors:ADVERSALO, Oscar R. "Oca" 4,126 ELECTEDBUNGAG, Mary Ann B. "Ma-an" 2,8U Not ElectedCAMAT, Rosalind R. "Baby" 1,575 Not ElectedFUERTE, Emerita C. "Emy" 3,672 ELECTEDGAYO, Nelson V. "Nelson" 5,038 ELECTEDPEREZ, Josephine G. "Josie" 2,131 Not ElectedVALDEZ, Mario S. uMar' 3,543 ELECTEDVELASCO, Armando C. "Armand" 3,249 Not Elected

For Audit and lnventorv Committee:DULNUAN, Ana O. "Ana" 4,374 ELECTEDFLAVIER, Nida F. "Nidz" 2,408 Not Elected

For Credit Committee:AMBANLOC, Aurora M. "Auring" UNCONTESTEDRONQUILLO,lsabelinaG. "Belle" UNCONTESTED

For Election Committee:DELINELA, David V. "Dave" 3,342DELOS REYES, Mario M. "Direct" 2,381LACONSAY, Basiliza S. uLiza' 4,580RONQUILLO, Feliza M. "Fely" 1,729TADEO, Emmanuel A. "Bong" 4,245VEGA, Mario A. 'Ma/' 1,719

* ELECTEDNot Elected** ELECTEDNot Elected** ELECTEDNot Elected

* Please note that Mr. David Delinela will serve onlythe unexpired portion ('1 year) of the term of Mr.Mario Valdez who was deemed resigned asmember of the Election Committee when he filedhis Certificate of Candidacy for the position ofBoard of Directors.

** Ms. Basiliza Laconsay and Mr. EmmanuelTadeowill serve the full two-year term.

The EleCom printed 10,500 pieces of ballots whichwere allocated to the deputies for distribution to the

(Continued on Page 9)

I

j,ii,l

ittt

jd

I

f'{Ig

d

i

{{i

'1i

4I

t{$.t_i

{

{f{{flN

ftq

rhe BBCCC CWPSERVER January - March 2005

BBCCC EtECrrOtS 2@5...(Continuedfrom WCe 8)

members. There were 8,064 members in good standingwho attended the assembly and likewise received theirofficial ballots. As per provision of our By-Laws, membersin bad standing cannot vote. Out of 8,064 members whoreceived their ballots, 7,275 cast their vote for avoter'sturnout of 90% and a 4% increase of that of last year.

Considering that the two incumbent members of theElection Committee were themselves candidates for thisyears election, three BBCCC lawyer-members wereappointed to supervise the election on interim basis; Atty.Zosimo Abratique served as the Chairman with Atty.Jennifer Asuncion and Atty. Evangeline Cobarrubias asmembers with the assistiance of the Election Committeedeputies and the BBCCC scholars.

The conduct of the past election was honest, orderlyand peaceful despite the fact that there were still someunexpected but unavoidable problems encountered duringthe election which did not greatly atfect the realization of asuccessful election. There were no election-relatedcircumstances like filing of protests/cases in connectionwith the election. ln this regard, the members of ElectionCommittee and all the candidates would like to express toall the members, their heartfelt gratitude for all the

REGULAR MEMBERS AS OFFIRST QUARTER 2OO5

YEAR END 2OO4 - 15,139

APPROVAL OF MEMBERSHIP FOR 2OO5

Forthe month ofJanuary - 148For the month of February - 144For the month of .March - 141

TotalApproved members for 2005 :;;;'

WTHDRAWAL OF MEMBERSHIP FOR 2OO5For the month of JanuaryFor the month of FebruaryFor the month of March

- 28 (2-W,26-WO)- 22 (19-WO,3-D)- 20 (17-WO,3-D)

Total Withdrawals for 2005 - 70

TOTAL REGULAR MEMBERS for First Quarter 2005 - 15.502

Legend:W -With Right of Re-entryWO - Without Right of Re-entryD - Deceased

colvl}c LAF€UI

1I

fzzc-c:\ @t--.

ilstft1,Jt> r'.3

PIL d?A'( CP! FFSIIMANJSAAN FN6 ?VA N6

r:t^m L&.6DIrDr

sfr YreLA'"A|41N6 Tc6... / €r.t...Fq...vtn1..Sl6F wa 7a-. i'reveear$ 1c1o vP aKq.i6 (tR lsfl NFr dr{...pRMtiJt FFfipf/R,"rn. ,4FIF N<(o t/P aq.i6 (Fqw(fi.\TE elro". .)--.- -A.Zt

FFcccco

Prro Nn LnN6l

wrc vf6-0tnF. HA^/ oqjLr'r Hr'Cr rw?'

MABlLls I

WHO'SVFIOATBBCCC. . .

Tita Belen, often calledby her workmatesactually started work inthe BBCCC in July of1995. Nearing ten (10)years of service in theCoop has not lessenedher enthusiasm aboutworking. On the otherhand, she still enjoys theservice being offered tothe members in that theireconomic status isuplifted.

Tita Belen is known to be a quiet person but helpfuland approachable too. She also makes certain that workis finished on time. Overall, workmates agree that she iskind, friendly, thoughtful, and a mom-even to the youngerstaff members. Another testimony is that she is a lovingwife and mom to her two daughters.

Asked about what else she envisions for the BBCCC,she energetically said that the Coop would serve asmedium to help not only the members but the different

Jen as usually called isone of the youngsters inthe BBCCC. She beganher exposure in theCoop when she had herpracticum in 2002. Whena vacancy in the Coopoccurred, Jen wasabsorbed in the statf,hence she is nowcontinuing her work asone of the AccountsClerk.

Jen is known to be devoted and diligent in her work.Workmates agree that she is one moody lady but akindhearted person. She is further described as one ofthe staff who is approachable and dependable. A triviaabout her is that she cooks well but manages to stayslim!

JEgWTffiKQ.VATUEZ

Page 70 rhe BBCCC COOPSERVER January - March 2005

FROM THE MANAGER'S DESK...Amado Jesus F. Cendafia

Once again we put fonrard our usual message--"lt can be done". Through cooperativism our commonvision, our common goals can readily be attained. Whenindeed people get and work together, there much that canbe accomplished and less than cannot be done. More thana year ago we all dreamed of putting up a BBCCC buildingwe can call our own. A week ago we stood all proud as weinaugurated our seven storey edifice, a striking testimonyto the power of cooperation. We managed to construct ourown solely on our membership resources with no externalborrowing (nay, one peso) at all. Again we have provenone thing - coop strength is a formidable power.

It's summer time! We are launching once againour annual "Summer Hirit" Qapital Build-Up Promo. Ourmechanics remains the same. Every P1,000.00 you add toyour Fixed Deposits brings you a free Raffle Ticket. This 'provides you another chance to win our numeroushandsome prizes on deck. More deposits, more chances.We trust that you would again support this program wehave been having through the years.

We are now STRICTLY implementingPASSBOOK NO lD NO TRANSACTION' rule.have been advised to entertain transaction with you only ifyou present your lD and PASSBOOK. lt is our desire tofast track our process of computerizing all phases of ouroperation so as to improve our customer service toeveryone. To avoid encountering inconvenience we aretherefore soliciting your utmost support and cooperationfor our computerization program. Eventually we well beable to serve you faster and better.

our 'NOOur staff

rhe BBCCC C(DPSERVER January - March 2005

BAGUIO.BENGUET COiIMUNITY CREDIT COOPERATIVENo. 56 Cooperative St., comerAssumption Rd., Baguio City

STATEiIENT OF GASH FLOWFor the Year Ended December 31,2004

CASH FLOW FROM OPERATING ACiIVITIESNet Surplus

Page 77

Adjustments to reconcile net surplus to net cash provided by operating activities:. Depreciation and Amoilization

Provision for Probable Lossei on Loans/Bad DebtsAdjustments on Allowance for Probable Losses *Other AdjusbnentsChanges in Assatrs and Liabilities:

52,014,251.90

1,179,351.014,705,396.78(2,781,702.U1(v,772,052.41\

(723,901.17\|,574,317.73

16,813,752.48

(170,526.89)(3b,080,465.54)(3b,250,992.43)

5,260,370.8714,054,375.14

164,127.946,036,271.57

59,934,860.262,555,592.47$,547,887.231(1,779,061.07)

(36,548,880.53)46J29,769.42

25,692,529.47113,824,493.00139,5',t7,022.47

3,908,381.5624,500.00

200,000.00500.00

24,157J31.29111,225,909.91

lncrease in Receivable (40,177,625.88)lncrease in lnventories (221,397.00)Decrease in Prepaid Expenses 27,154.10lncrease in Accounts Payable, Accrued Expenses, f,989,959.76

and Other Current iiaoitities excludin! Due ApexPayment to ApexDecrease in Other Assets

tgCash provirJed byoperating aclivities .. -

CASH FLqV FROTI INVESTING ACTIVITIEShct€6e in Long:1961 ;nvestmentsCeptral E:penditureslletCash provitled by investing ac'tivities

CfSH FLOW FROil flNAl,lClNG ACTIVITIEShsease in Savings Depositlsaae in Fixed DepositsIrmasa in Long-Term LiabilitieshcrEce in Other Liabilitieshcrcasa in Share CapitalAfintnent to Reserve Fundtlrc dOplional Fundlhof E<lrcation Fund - LocalFaymnt of Patronage Refund and lnterest on Capitalilef Cash provided by financing ac'tivities

. . : .:

i. '

ETrcREASE (DECREASE) rN CASH AND CASH EQUIVALENTSGEI IXD CASH EQUIVALENT - Beginning of yearClfll AllD CASH EQUIVALENT - End of year

?rcddown of Cash and Cash Equivalent:Cash on HandPdy Cash FundRevolving FundGhange FundCash in Bank - Cunent and SavingsShort Tem f nvestment (Iime Deposit)Petty Cash Fund

Totalr Corrected amount computed as follors:

Allorilance hrFrcibable Losses on Loans Receivable, Dec 31, 2003Allovvance for Bad Debts on Accounts Receivable-Trade, Dec 31, 2OO3

Total

Add Provislon for Probable Losses for year 2004 **Computed Balance as of December 31,2004Less Ac'tual Balance as of December 31, 2004:

Allowance for Probable Losses on Loans ReceivableAllowance for Bad Debts on Accounts Receivable-Trade

Adjustmenb made in the books of accounts

12,751,849.00

4,705,396.7817,457,245.78

lit,tts,o4f.ttl(496,496.70)

2,781,702.34

'* This was omifted in the previous presentation causing the discrepancy in tlle reportpresented to the General Assembly.

I\,IARIA CECILLA RITA UBALDO-PAREDES, CPABBCCC ExtemalAuditor for Year 2004

517,022.76

NEW BBCGG BUTLD'NO . . .(Contimedfrom paCe I)

Hereunder is the list of the BBCCCofficers for fiscal year 2005:

BOARD OF DIRECTORS:Chairman: Bemard D. PadangVice-Chairman: Oscar R. Adversalo' Members: Gregorio V: Andal l

Emerita C, FuerteNelson V. GayoAmparo T. RimasMario S. Valdez

CREDIT COMMITTEE:Chairman: Arturo G. AsuncionMembers: Aurora M. Ambanloc

lsabelina G. Ronquillo

AUDIT & INVENTORY COMMITTEE:Chairman: Roland G. LachicaMembers: Roberta A. Balangue

Ana O. Dulnuan

ELECTION COMMITTEE:Chairman: Basiliza S, LaconsayMembers: David V. Delinela

EmmanuelA. Tadeo

EDUCATION, MEMBERSHIP ANDTRAINING COMMITTEE:

Chairman: Qscar R. AdversaloMembers: Michelle S. Carifio

EmmanuelA. TadeoEmma Lupango (ex-officio

member)

LEGALCOMMITTEE:Chairman: Nelson V. GayoMembers: Zosimo M. Abratique

Renato C. Femandez

YOUTH COMMITTEE:Chairman: Gregorio V. AndalMembers: RomanoBulatao

Josephine G. Perez

HOUS"VG COMMITTEE:Chairman: Emerita C. FuerteMembers: Mario S. Valdez

Ma. Asuncion MinglanaAlbertTalco

RESEARCH AND DEVELOPMENTCOMMITTEE:

Chairman: Amparo T. RimasMember: Thelma Kim

TREASURER: Marcial V. EsquejoSECREIARY; Emma Lupango

GEN. MANAGER: Amado Jesus CendaflaASS7. GEN. MANAGER: Flordelina Sabedra

Gertified Coned:

Page 12 rhe BBCCC CUTPSERVER January - lutarch 2005

---A>VEFTISEIAENTS--IMake money, , ,

Be an AVON dealerENJOY TINLIMITED EAR}IING OPPORTT'NITY!

. Abusiness ofyourown

. unlimited income

r Personal and professional growth

o Recognition and rewards

r Freedomtosetyourownhoursr Helping others to realiz.e their dreams

LOOK FOR:BB CASTRO ENTERPRISES:Rm. 106 Victoria SupermatUpper Mabini St., Baguio CityTel No. 442-5069; Cel No. 09163021554

ARGEN'S GRA'^'S MKTG.

56 Tacay/fam-awan Rd.,Pinsao Proper, Bagaio City

EUGENIO & ARM, TADEO - Proprietors

TIN: I7l-58A-551; TEL. (O74) 445-7820

NORTHWAY CONilPUTERSSALES AND SERVIGES#12 Rimando Rd., 2/F Nenita BIdg., Baguio Clty

TeleFax No. @74) 443-3041

LAN lnstallation, Configuration, Cabling & Troubleshooting. SoftwareDev't., Computer Sales, Repair, Tutorial, Maintainance, Printlng,

Encodin g, Scanning, Software-Hardware lnstallation & Consultation

Engr. MANOLITO "Lito' 6ACWANO, CoE (Manager)

6Jts AVON& FENG SHUI

Baguio-Benguet Comm unityCredit Cooperative (BBCCC)

* AVON Products* Semi Precious Stones* Silver & Austria Swarovski

crystal" LUCKY Charms & other FENG

SHUI ProductsRequiremenfs;1.2 pcs. (1 x 1) pic'turq2. Proof of Address (ex. Water/Electric/Post marked envelope)3. Proof of ldentification with picture

Address;o 2F BBCCC Bldg. (56 Cooperafives Sf., Baguio City)c 2F Bogayong Bldg (formerly Hamada), Mabini St.,

Baguio City, Tel #s . 304-5027, 443-8297

FREE REGISTRATION NA...MAY REGALO I(A PA...

JArSAll *ooDwoR*s/ FURNTT'RE'AGCRECATES / IRONWORKS

No. 57 Marcos Highway, Baguio CityOFFICE: 620-0058 RES: 444-4267

Doors * Jambs * Mouldings * Slot * Louvers * French Windows *

Cabinets (Bar, Kitchens) * Sets (9ala, Dining) * Wood Parquette'Sanding * CHB 4,5,6"; itd. * Sand & Gravel * Boulders * Steel Truss '

Roofing * lronworks * Hauling

JAIME GUPAAI- SUSAN GUPAALCel. No.0919-536-3185 Cel. No.09l9-469-0965

TOALLBBCCC MEMBERS:

You may now cloim your giftfor year2004 at the BBCCC office. . .