The running of the Sacco is governed by the SACCO Societies Act of 2008. The Act requires that a society elects a Management Committee to be overseeing the work of the Society. The Management Committee consisting of 9 members elected by the SACCO members. The role of the Management Committee includes safeguarding the assets of the Sacco, ensuring keeping of accurate financial records and initiating appropriate policies to run the Sacco.
Major policies have to be approved by the Annual General Meetings of the members. Such policies can also be approved by Special General Meetings of members specially called to discuss important issues. The society has its own bylaws.
I take this good opportunity to greet all of you this morning. The business year 2015 has gone on pretty fast but I am sure each one of us is better placed than before. We must have grown in one way or another and that our Sacco has contributed to that kind of growth.
Both the management and supervisory committees have continued to Steward PCEA SACCO. There has been co-operation and resilience all through. As the chair I have received encouragement from all quarters. We embarked on capacity building and stewardship.
The Supervisory Committee is responsible for ensuring that the Society is compliant with all rules, regulations and internal controls as set out in the Society’s By-Laws. As such, the Supervisory Committee acts as an internal auditor of the Society. Members of this Committee are directly elected by and report to the AGM.
The Management Members is responsible for ensuring that the Society is compliant with all rules, regulations and internal controls as set out in the Society’s By-Laws. As such, the Supervisory Committee acts as an internal auditor of the Society. Members of this Committee are directly elected by and report to the AGM.
The Supervisory Committee is responsible for ensuring that the Society is compliant with all rules, regulations and internal controls as set out in the Society’s By-Laws. As such, the Supervisory Committee acts as an internal auditor of the Society. Members of this Committee are directly elected by and report to the AGM.