GoShare Sacco

GoShare  

The objectives for which the GoShare Sacco is formed are:

1.)To keep money to help the organization  finance and facilitate all activities that promote the aims of the organization  and assist the less fortune GoShare Sacco.

2.)To participate in income generated activities such as opening businesses that provides employment to willing members.

3.)To provide education to the destitute , needy , marginalized , vulnerable and the less financially fortune members of the community .

4.)To establish and maintain skill development facilities including ( but not limited to ) school libraries , museums , clubs,resource centers and associations ;

5.)To promote and further the study and research into all useful branches of human knowledge , be they arts or sciences , for public benefit and ensuring the public dissemination of the results of such study and research ;

6.)To assist , support and improve access to training and skills development , mentorship , favourable policy on environment and other related facilities in the education sector ;

7.)To promote initiatives to source for funding in the GoShare Sacco  ;

8.)To champion and support initiatives that promote and deliver innovations in the education sector ;

9.)To work in close association and consultation with the national government and the county governments in the republic of kenya as well as other players including ( but not limited to ) concessionaries , donors and development agencies for the promotion and realization of the society's objects ;

10.)To employ staff and experts or specialists whenever necessary for the furtherance of the objects of the organization  ;

11.)To promote in any manner possible among schools and other institutions of learning the highest standards of education as a means of promoting learning and innovation consistent with any applicable local, national regional or international policies

GoShare Membership

( a ) Any willing member or registered company shall be eligible for membership to GoShare Sacco  and shall , subject to the approval by the committee .

(b) become a member on payment of an entrance nonrefundable registration fee of Kshs. 1,000.

(c) Any individual who wishes to join the GoShare Sacco shall be required to buy a Ksh . 200 for a copy of the constitution. Each member should read and understand the constitution before signing the membership form upon registration.

( d ) Any member desiring to resign from the GoShare Sacco shall submit his or her resignation to the secretary two months earlier , which shall take effect from the date of receipt by the secretary of such notice .

( e ) Any member may be expelled from membership if the committee so recommends and if a general meeting of the GoShare Sacco shall resolve by a two - third majority that such a member shall be on the grounds that his conduct has adversely affected the reputation or the dignity of GoShare Sacco , or that he has contravened any of the provisions of the constitution of  GoShare Sacco .

( f ) Any person who resigns or is removed from membership shall be entitled to a refund of 80% subscription or any part thereof or any moneys contributed by him or her . The request for a refund shall be mature after one month of a written note to request for the refund by the member.

(g) Any member(s) who is an office bearer, and has been proved guilty by the Organization  committee to have used his/her position to break any part of the constitution , the committee shall have power to strip off both the office responsibility(together with the privileges of the office and the membership of the member in question) .

( h ) Every member shall pay a refundable monthly subscription fees of at least table banking savings of Kshs   500 ( or such other higher amount as the member can save ) before 15TH date of each months , provided that a member can decide to pay any amount in advance .Any member who fails into arrears with his or her monthly subscription shall be penalized 10 % of the fee .

(i)  Any member who falls into arrears with his or her monthly subscription for more than three (3) months shall automatically cease to be a member of the GoShare Sacco  and his/hername shall be struck off the register of members.

(j) No refund of funds are granted [at the point mentioned at (i)] because the member in question is no longer an active member. Refund is only grantee to members who apply to resign from GoShare Sacco while they are still active member . The committee may, however, at its discretion, reinstate such member on payment of the total amount subscription outstanding.

Any member who shall not able to attend any meeting  (without apology) shall be charged by the treasurer penalty of absenteeism of a fee not less than Ksh. 100 . The fee shall be deposited to the Organization  account ,and the deposit slip shall be given to the treasurer in the following meeting .Punctuality to the meetings shall be observed, Any member who comes five ( 5 ) minutes late , without apology shall be charged a fine of Kshs. 50.                                 

GoShare Activities

The GoShare Sacco  shall undertake the following activities;

a) Sensitize and train people on Education21 Early Reading skills.

b) Train people on Early Reading .

c) To sensitize community members on issues of education  

d) Invest in small scale businesses .

e) Train people on Savings and loans.

Attaining GoShare Objects

The committee is empowered to do all things necessary which are incidental to and necessary for the attainment of the objects of the GoShare Sacco .

 Powers of the organization

1.) To acquire, hold, deal with, and dispose of any real or GoShare Sacco  property;

2.) To open and operate bank accounts;

3.) To invest its money in any security in which trust moneys may be invested; or in any other manner authorized by the rules of the Organization 

4.) To borrow money upon such terms and conditions as the Organization  committee thinks fit;

5.) To give such security for the discharge of liabilities incurred by the Organization  as the GoShare Sacco  thinks fit;

6.) To appoint agents and employees to transact any business of the Organization  on its behalf for reward or otherwise;                                                                                                                                

7.) To build, construct, erect, maintain, alter and repair any premises building or other structure of any kind and to furnish equip and improve the same for use by the Organization ;

8.) Accept donations and gifts in accordance with the objects of the Organization ;

9.) Print and publish any information by any media including newsletters, newspapers, articles or leaflets for promotion of the Organization ;

10.) Provide gifts and prizes in accordance with the objects of the Organization ;

11.) Organize social events for Members and the promotion of the Organization ; and

12.) To enter into any other contract the Organization  committee considers necessary or desirable.

Office Bearers

(a) The office bearers of the Organization shall be;

The Chairperson

The Secretary

The Treasurer

( b ) All office bearers shall hold office from the date of election until the next third annual general meeting  .

( c ) Any office bearer who ceases to a member of the Organization  shall automatically cease to be an office bearer thereof .

( d ) Office bearers may be removed from office in the same way as is laid down for the expulsion of members in rule 3 ( d ) and vacancies thus created shall be

filled by persons elected at the General meeting that is resolving the expulsion .

( e ) The committee , with approval of all members in a general meeting , may increase or reduce the number of office bearers to be proportionate to the membership of the Organization  and to cater for special needs that may arise from time to time . For such additional members, the committee shall issue clear temporary description of their roles.

Duties Of The Office Bearers (Executive)

(a) Chairperson

1) The Chairperson shall, unless prevented by illness or other sufficient cause , preside over all meetings of the committee and at all general meetings .

2.) Co-ordinate all Organization activities .

3.) Ensure that the executive perform their duties and that all other members participate in all Organization activities.

4. ) Maintain discipline and ensure a follow up to the conduct of all members to ensure the constitution is highly adhered to .

5.) Ensure that all records are updated in the right time.

6.) Prepare agenda for the meetings of the committee and the organization.

7.) Ensure that the Organization is legally registered and that the Organization certificate of registration is renewed annually.

8.) The Chairperson is the vision bearer of the organization.

9.) The Chairperson is the main and mandatory Bank Signatory besides the Treasurer.                                                                                                                                     

( b ) Secretary

The Secretary shall deal with all correspondence of the Organization under the general supervision of the committee.

2.) In case of urgent matters where the committee can not be consulted, the secretary shall consult the Chairperson or if the Chairperson is not available, the treasurer shall be consulted. The decisions reached shall be subject to ratification or otherwise at the next committee meeting.

3.) The Secretary shall issue notices convening all meetings of the Committee and all general meetings of the Organization and shall be responsible for keeping minutes of all such meetings and for the preservation of all records (including financial records) of the proceedings of the Organization and of the committee.

4.) The Secretary shall be the spokesperson of the organization

5.) In the absence of the treasurer, the Secretary shall receive and disburse money as directed by the committee.

6.) The Secretary might be a bank signatory.

(c ) Treasurer

1.) The Treasurer shall receive and shall also disburse, under the directions of the committee, all moneys belonging to the Organization and shall issue receipts for all moneys by him or her and preserve vouchers for all moneys paid by him or her.

 2.) The Treasurer is responsible to the committee and to the members that proper books of account of all moneys received and paid by the Organization  is recorded, maintained and available for inspection.

3.) The records the Treasurer keeps include the ledgers, the banking slips, banking register and bank statements.                                                                                                                                     

4.) Give monthly, annual, financial reports and financial advice on financial matters of the organization.

The Committee

( a ) The committee shall consist of all the office bearers of the Organization  elected at the annual general meeting in the year ; such committee members shall hold office until the following third general meeting . The committee shall meet at such times and places as it shall resolve but shall meet not less than once in every month.

(b)  Any casual vacancies for members of the committee shall be filled by the committee until the next monthly meeting of the Community Based organization. Vacancies caused by members of the committee removed from office will be dealt with as shown in rule 4 ( d ) .

(c) Where the Organization has formed branches, the members at a general meeting shall adopt rules on representation of such branches in the committee provided that the election of these representatives should be by the committee of the branch concerned.

Duties Of The Committee

The committee shall be responsible for the management of the GoShare Sacco  and for that purpose the committee may give directions to the office bearers as to the manner in which, within the law, they shall perform their duties. The committee shall have power to appoint such subcommittees as it may deem desirable to make reports to the committee upon which such action shall be taken as seems desirable to the committee.

( b ) all moneys disbursed on the behalf of the GoShare Sacco  shall be authorized by the committee except as specified in rule 13 ( d ) .                                                                                                                                    

( c ) The quorum for meetings of the committee shall be three-quarters members .

( d ) Other roles of committee members are ;

( i )Implement the objects of the committee

( ii ) implement the decisions resolved by the GoShare Sacco  members .

( iii ) Planning annual budget .

General Meetings

( a ) There shall be two classes of general meetings ; - annual general meetings and monthly general meetings

( b )  ( i ) The Annual general meetings shall be held in the month of November in       each year or at such other month as the members may by a resolution decide from time to time . Notice in writing of such General meetings, accompanied by the Annual statement of account ( see rule 11 ( b ) ) and the agenda for the meeting shall be sent to all members not less than 21 days before the date of the meetings .

( ii )  The agenda for any annual general meeting shall consist of the following ;

( a ) Confirmation of the minutes of the previous annual general meeting .

( b ) Consideration and approval of the accounts .

( c ) Election of the office bearers and the committee members .

( d ) Appointment of auditors in accordance with rule 12 ( a ) .

( e ) Such other matters as the committee may decide or as to which notice shall have been given in writing by a member or members to the secretary at least four weeks before the date of the meeting                                                                                                                                 

( f ) Any other business with the approval of the chairman

C . A special general meeting may be called for any specific purpose by the committee. Notice in writing of such a meeting, shall be sent to all members not less than seven days before the date thereof and where practicable by press advertisement not less than seven days before the date of such meeting.

( d ) A special general meeting may also be requisitioned for a special purpose by order in writing to the secretary of not less than one half quorum members and such meetings shall be held within 21 days of the date the of the requisition . The notice for such meetings shall be as in rule 8 ( c ) and matter shall be discussed other than that stated in the requisition .

( e ) No business shall be transacted at any general meeting except the adjournment of the meeting unless a quorum of members is present at the time the meeting proceeds to business , and such quorum shall consist of not less than two third of the registered members of the Organization  in person or in proxy .

Procedure At Meetings

( a ) At all meetings of the GoShare Sacco , the chairman , or in his absence , the member selected by the meeting shall take the chair .

( b ) The chairman may at his discretion limit the number of persons permitted to speak in favour of or against any motion .

( c ) Resolutions shall be decided by simple voting by a show of hands . In the case of equality of votes, the Chairman shall have a second or casting vote.                                                                                                  

Auditor

( a ) An auditor shall be appointed for the following year by the annual general meeting . All the GoShare Sacco accounts, records and documents is opened to the inspection of the auditor at any time. The treasurer shall produce accounts of the receipts and payments and a statement of assets and liabilities made up to a date to a date which shall not be less than six weeks and not more than three months before the date of the annual general meeting. The auditor shall examine such annual accounts and statements and either clarify that they are correct , duly vouched and in accordance with the law or report of the GoShare Sacco in what respect they are found to be incorrect , unvouched or not in accordance with the law or.

( b ) A copy of the auditor's report on the accounts and statement s together with such accounts and is to be furnished to all members at the same time as the notice convening the annual general meeting is sent out . An auditor may be played such honorarium for his duties as may be resolved by the annual general meeting appointing him or her.

( c ) No auditor is not an office bearer or a members of the committee of the GoShare Sacco.

Funds

( a ) The income and assets of the GoShare Sacco solely in promoting the objects of the GoShare Sacco as set out in this constitution and no portion of it is to be paid or transferred directly or indirectly by way of individual profit to members , provided that this does not limit payment of :

( i ) goods supplied in the ordinary and usual course of business ;

( ii ) interest at a reasonable and proper rate on money borrowed from any member ;

( iii )reasonable and proper rent for demised or let by any member of the GoShare Sacco  ;

 ( iv ) remuneration of any officer or servants of the GoShare Sacco in return for any service rendered to the Organization  other than in the capacity as members or office bearers , where provision of the service has the prior approval of the committee and where the amount payable not more than an amount which commercially would be a reasonable payment for the service ;

( v ) Out-of-pocket expenses incurred by a member or office holder in the performance of any duty for the Organization  where the amount payable does not exceed any amount previously approved by the committee is not refundable by GoShare Sacco .

( vi ) any salary or wages due to a member as an employee of the GoShare Sacco where the terms of payment have been approved by the committee ; or

 ( b ) All monies and funds shall be received by and payed by the treasurer and shall be deposited by him/her in the name of the GoShare Sacco in any bank approved by the committee .

( c ) No withdrawal any payment of money shall be made out of the bank account without mandatory signature of the Chairperson and Treasurer elected by members and authorizing by the constitution .

( d ) A sum not exceeding Kshs. 5,000 may be kept by the treasurer for petty disbursements of which proper accounts shall be kept .

( e ) The committee shall have power to suspend any office bearer if it has reasonable cause to believe that he/she is not accounting for any of the funds or property of the GoShare Sacco   and shall have power to appoint another person in his place . Such suspension shall be reported to a general meeting to be convened on a date not later than two months from the date of such suspension and the general meeting shall have full power decide what further action shall be taken in the matter .

( f ) Sources of income may include income generated from projects, well wishers, donors and members contribution of each month.

 ( f ) The financial year of the GoShare Sacco   shall run from 5th June to 25th July in each year .

Amendments Of The Constitution

Amendments to the constitution of the GoShare Sacco must be approved by at least a two thirds majority of members at a general meeting of the GoShare . They cannot , however , be implemented without the prior consent in writing of the Registrar , obtaining upon application to him/her in writing and signed by three of the office bearers .

 Inspection Of Accounts And List Of Members

The books of account and all documents relating thereto and a list of members of the are available for inspection at the KingPin office by any officer or member of the GoShare  on giving not less than seven days notice in writing to the GoShare Sacco .