Closing out a VICOBA cycle
Closing a cycle is the controlled sequence that ends one period and clears the way for the next. It runs the group from its final meeting through the share-out and a fund reconciliation, so a cycle is only closed once its money has been accounted for and distributed — never left half-settled.
The close sequence
- 1Hold the final meetingThe last meeting entry of the cycle captures the closing shares, social-fund contributions and any fines, so the fund ledger reflects everything the cycle accumulated.
- 2Calculate the share-outThe system computes each member's payout, weighted by the shares they accumulated and drawn from the distributable fund — contributions plus interest and fines, less the social fund set aside.
- 3Reconcile the fundThe fund ledger is reconciled so that what is distributed matches what the cycle actually held. This is the check that the group's money is fully accounted for before the cycle is put to rest.
Why the order is enforced
Each step depends on the one before it: you cannot share out a fund whose final meeting has not been recorded, and you cannot reconcile a distribution that has not been calculated. Because a cycle is a discrete, closable period, the group runs one cycle at a time — the close must complete before a new cycle can open, so no balances leak silently from one period into the next.
You can model the expected distribution in the share-out calculator first, then compare it against the calculated share-out at close to confirm the figures line up before the cycle is finalized.