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.. CO-OPERATIVE CREDIT UNION LIMITED.
SUPERVISORY COMMITTEE WORKING PAPERS
Assessment of Board Minutes
Date of Meeting:.. Number of directors present: ........ Quorum:
Yes [ ] No [ ]
Yes No Cant Tell1. Were financial statements presented at the
meeting? [ ] [ ] [ ]
2. Did the financial statements include a budget/actual
comparison? [ ] [ ] [ ]
3. Did the financial statements include a PEARLS analysis? [ ] [
] [ ]
4. Were the financial statements used to make decision at the
meeting? [ ] [ ] [ ]
5. Did the minutes reflect adequate discussions on the financial
statements
and analysis? [ ] [ ] [ ]
6. Did the meeting approve the overspending of any budget item?
[ ] [ ] [ ]
7. Was a Managers report presented at the meeting? [ ] [ ] [
]
8. Did the Managers report reflect a summary of the operations
of the
office for the month? [ ] [ ] [ ]
9. Was the Supervisory Committees report presented at the
meeting? [ ] [ ] [ ]
10. Was the Credit Committees report presented at the meeting? [
] [ ] [ ]
11. Did the Credit Committees report include all loans granted
by LoansOfficers and members of staff authorized to do so? [ ] [ ]
[ ]
12. Were reports from other committees of the credit union
presented at this
meeting? [ ] [ ] [ ]
13. Was a delinquency report presented at this meeting? [ ] [ ]
[ ]
14. Did the board make recommendations regarding action on
delinquent
loans? [ ] [ ] [ ]
Was approval granted for the writing off of loans that have
been
delinquent more than one year? [ ] [ ] [ ]
Were applications for membership approved by the board at
this
meeting? [ ] [ ] [ ]
Did the Board discuss strategies to overcome the weaknesses
revealed by
the PEARLS analysis? [ ] [ ] [ ]
Did the board review any policy of the credit union or
makerecommendations for same? [ ] [ ] [ ]
Did the meeting discuss any aspects of the Strategic Plan? [ ] [
] [ ]
Was the performance of the credit unions investments reviewed? [
] [ ] [ ]
Was the investment portfolio reviewed in any way? [ ] [ ] [
]
Were any decisions taken regarding investments? [ ] [ ] [ ]
Were correspondences were read and decisions taken regarding
them? [ ] [ ] [ ]
Was the minutes signed by the President of the board? [ ] [ ] [
]
Was the minutes signed by the Secretary of the board? [ ] [ ] [
]
OTHER COMMENTS
Prepared by: Reviewed by:
Date: Date: ..
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. CO-OPERATIVE CREDIT UNION LIMITED.
SUPERVISORY COMMITTEE WORKING PAPERS
Assessment of Delinquency Report
Report for the month of : .20.
No of delinquent members on the report:
Total value of delinquency: .Delinquency Ratio: ...% (Total
delinquency/Total Net Loans)
# Questions Yes No
The delinquency report was generated directly from the computer
system? [ ] [ ]
If the system is a manual one did the Supervisory Committee
verify the delinquencyreport? [ ] [ ]
Does the delinquency report agree with the figures submitted to
GARFIN on a
monthly basis? [ ] [ ]
Does the members file show the follow-up work done on the loan
since it became
delinquent? [ ] [ ]
Are loans delinquent for a period greater than one year written
off? [ ] [ ]
Has the credit union made the required provision for doubtful
loans based on the
delinquency report? [ ] [ ]
Does the credit union make the necessary efforts to collect the
delinquent loans evenafter they have been written off? [ ] [ ]
Was a listing showing the provisions made for loan losses made
available for
examination by the Supervisory Committee?
[ ] [ ]
Does the credit union have a delinquency policy? [ ] [ ]
Does the delinquency policy outline all the steps to be taken
when a loan becomesdelinquent? [ ] [ ]
Is any member of staff delinquent? [ ] [ ]
Is any member of any management committee delinquent? [ ] [
]
Is the delinquent presented to the board on a monthly or
quarterly basis, discussed
and actions recommended? (Check board minutes for proof) [ ] [
]
Does the board make recommendations for the writing off of all
loans? [ ] [ ]
Does the board minutes prove that it was the board who
recommended the writing
off of loans and not management? [ ] [ ]Follow up:
Take a sample of members on the delinquency report and examine
their files
Yes No
Is the follow-up on the delinquent member properly documented? [
] [ ]
Was the loan refinanced and ne agreements signed for the
repayment of same? [ ] [ ]
OTHER COMMENTS
Prepared by: Reviewed by:
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.. CO-OPERATIVE CREDIT UNION LIMITED.
SUPERVISORY COMMITTEE WORKING PAPERS
Assessment of Human Resource/Personnel Policy & HR
Matters
Yes No
Cant
Tell
1. Does the credit union have a Personnel or Human Resource
Policy? [ ] [ ] [ ]
Does the policy deal with the procedures for filling vacancies
when they
become available? [ ] [ ] [ ]
Does the credit union have an organizational chart? [ ] [ ] [
]
Are all important positions on the organizational chart filled?
[ ] [ ] [ ]
Does the credit union have established minimum qualifications
for all job
positions? [ ] [ ] [ ]
Is the personnel policy reviewed by the board annually to make
relevant? [ ] [ ] [ ]
Does the personnel policy deal with a scientific method
(interview score
sheet) of deciding how the most suitable candidate could be
decided on at
an interview? [ ] [ ] [ ]
Does the organizational chart clearly show the reporting line of
the credit
union? [ ] [ ] [ ]
Do all employees have job descriptions? [ ] [ ] [ ]Do all job
positions have salary scales? [ ] [ ] [ ]
Are salary scale competitive with other financial status of
similar size ? [ ] [ ] [ ]
Is it mandatory that all employees take their annual vacation? [
] [ ] [ ]
Is it possible for employees to receive payment instead of
taking their
annual vacation? [ ] [ ] [ ]
Does the policy state the annual vacation that all employees are
entitled to? [ ] [ ] [ ]
Develop Working papers for:
Internal Controls
Risk management
Compliance
PEARLS Analysis
