Analyzing, verifying, recording, paying and filing thousands of bills; balancing accounts; developing audit procedures; producing financial statements… these enormous tasks fall to the FCNQ's Accounting Department.
They do essential work, seeing to the organization's financial health and allowing it to support cooperatives in their initiatives. Thanks to this department's vigilance and diligence, the FCNQ has earned a reputation as a good credit risk among financial institutions, and cooperatives can get the funding they need for their projects. Knowing that the FCNQ and the entire cooperative movement are guarantors for projects, bankers who are normally cautious about investing in remote regions are more receptive to the idea of embarking on an adventure.
This diligence and concern for limiting expenses has allowed the FCNQ to generate an operating surplus for the past few years, which the 14 member cooperatives benefitted from in the form of dividends.
© 2014 - Fédération des coopératives du Nouveau-Québec