Tied to our vision, anchored by our values, building on our strengths
2014
2015
Total Assets $215.0M $237.5M
Net Loans 178.2M 191.9M
Total Income 18.3M 19.0M
Total Expenses 15.3M 16.0M
Surplus 3.0M 3.0M
Capital Expenditures 2.9M
7.1M
BE IT RESOLVED
That the budget, as presented, is approved.
4.
REIMBURSEMENT OF EXPENSES TO COMMITTEES
WHEREAS it is provided for under section 88 (2) of the Co-operative Societies Act No 20 of 1996 that Directors and members
of Committees may be reimbursed for expenses incurred by reason of the performance of their duties.
And WHEREAS it was approved by the AGM at its meeting of 26th March 2009 that members of the Board and Committees
would be reimbursed on the following basis effective 1st April 2009:
Board of Directors:
President, Vice President, Secretary & Treasurer
$250/month
Other Directors $200/month
Supervisory Committee:
Chairman & Secretary: $230/month
Other Members $200/month
Credit Committee:
All Members $60.00 Per Meeting
Chairman and Secretary
$30.00 per month additional
And WHEREAS the personal expenses normally incurred by directors and Committee members by reason of their performance
of their duties and functions have increased significantly especially in light of the challenging economic climate,
BE IT RESOLVED
That the provision for the reimbursements of such costs be changed to reflect the following:
Board of Directors
President $500/ per month
Secretary & Treasurer $350/ per month
Other Directors $300/month
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