La Cima Charter School

“Form 990 is reviewed by management and the finance committee of the board of trustees for approval. If changes are required, the school will then forward to the outside accounting firm and a final version will be distributed to all board members prior to the irs submission.”

“Each trustee, officer, and key person shall annually sign and submit to the secretary of la cima a statement which affirms such person has received a copy of the policy, has read and understands the policy, and has agreed to comply with the policy. A copy of each disclosure statement shall be kept in la cima's files and made available to any trustee, officer, or key person upon request. Conflict of interest is when a related party who, contrary to the obligation and absolute duty to act for the benefit of la cima, exploits the relationship for personal benefit. All transactions, agreements or any other arrangements between la cima and a related party, and any other transactions which may involve a potential conflict of interest, shall be reviewed by the independent trustees of the board. All related parties with an interest shall leave the room in which such deliberations are conducted. The independent trustees will then determine whether the contemplated related party transaction is fair, reasonable, and in the best interests of la cima at the time of such determination. La cima will not enter into any related party transaction unless it is determined to be fair, reasonable and in the best interest of la cima at the time of such determination. The minutes of all meetings of the board and all committee meetings shall be documented contemporaneously to the decision and discussion regarding the financial interest or conflict of interest.”

“The executive committee and the board reviews performance, scope of work (i.e. Size of school) and comparable salary data form new york city public schools and national charter schools, and determines compensation for the executive director and other officers. This process occurs bi-annually and is documented in the board minutes. The last time this occurred was in 2019.”

“The governing documents, conflict of interest policy, and the financial statements are all available upon request.”

“The school has a finance committee that is responsible for oversight of the audit and selection of the independent auditor. The organization did not change its oversight process from the prior year.”