ELIMIKA YOUTH SAVINGS AND CREDIT

CO-OPERATIVE SOCIETY LIMITED

P.O BOX 40418 - 00100
NAIROBI
Email: info@elimikayouthsacco.co.ke
Tel: 0743717062

MANAGEMENT COMMITTEE MEETING HELD ON 04/05/2022 AT 2.30PM

Members Present
1. Vincent Mangi Vice-chairperon
2. Mercy Jemutai Secretary
3. Faith Adhiambo Treasurer
4. Rebecca Buyanzi Chairperson,credit sub-committee
5. Nancy Oduor Secretary, credit sub-committee
Absent with apology
Evans Muita Chairperson
Agenda

a) KRA Penalty
b) Loan application forms
c) Demise of Elimika Youth Sacco Member
d) Transfer of shares to nominee

Preliminaries

The vice chairperson welcomed all the members to the meeting and read the agenda.

Reading and confirmation of minutes

Minutes of the previous meeting were read by the secretary, Mercy Jemutai. The minutes were
proposed by Faith Adhiambo and seconded by Vincent Mangi.

a) KRA Penalty

Having failed to file returns for the year 2020, Elimika Youth Sacco was given a penalty, and is required
to pay a fine of Ksh 20,000. The members agreed to pay the given amount in order to clear the fine from
the Kenya Revenue Authority.

b) Loan application forms

The credit sub-committee were able to come up with a loan application form. The form will be used by
the members of Elimika Youth Sacco to apply for loans.

c) Demise of Elimika Youth Sacco member

Elimika Youth Sacco lost one of its member, Eric Muli Kyalo, whose membership number is,
EYS/028/2021. Eric passed on on 12/04/2022. As per Elimika Youth Sacco By-laws, he ceased to be a
member by basis of death.

d) Transfer of shares to nominee

After consultation with the next of kin to the late member of the society, Eric, he agreed to be part of
Elimika Youth Sacco. The shares of the former, would then be transferred to his savings after application
and approval. His name is Ian Mutiso Kyalo, and he qualifies as per the society by-laws to apply for
membership. Ian will be required to pay an application fee of kshs. 1000.

Adjournment

There being no other business, the meeting ended at 4pm.

Confirmation of minutes;

Vice Chairperson……………………………………………………….

Signature…………………………………………………………..

Date ………………………………………..

Secretary………………………………………………………….

Signature………………………………………………………….

Date ………………………………………….