Faculty Student Association of Westchester Community College Inc.

“The by-laws committee reviewed the by-laws structure of sixteen (16) different community colleges with emphasis on size, constituents who hold a seat on the board, independent members, term limits, governing committees, etc. The by-laws were approved and amended by the board to reflect the following changes: - decreased size of the board from 21 to 13; - added independent directors; - eliminated student board member eligibility on executive board; - allow staff members to serve on the board; - clearly identify executive director as non-voting ex-officio member of board; - extend terms to two (2) years for board members. Section 1. Standing committees, part c now reads: c. Finance committee. The finance committee shall consist of the treasurer (chair), and at least three (3) other directors. The committee shall be responsible for the development of a sound financial plan to include the evaluation and adoption of both the annual operating budget and a capital budget. The finance committee will also evaluate fsa's financial reports and plans.”

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, it is reviewed by the board treasurer and at least one member of the audit committee. Once the 990 is approved the return it is filed with the internal revenue service.”

“Fsa currently has in place a conflict of interest policy that applies to any director, officer, or employee, which it annually monitors and enforces. The board mandates that all directors, officers, and employees must annually sign a conflict of interest statement and disclose any potential or actual conflicts that may exist. Any director, officer or employee who has an interest in a related party transaction must disclose in good faith to the board of directors the facts concerning such interest. Individuals with such relationships must not be present during, or participate in, any board deliberations or vote on any matters giving rise to the conflict, or potential conflict, of interest, including, but not limited to, matters directly pertaining to the business to be transacted with the identified person or organization or on issues that may result in any benefit inuring to the identified person or organization. The existence of all such conflicts of interest and their resolution, as well as any issues relating to them, shall be fully documented in the organization's records, including the minutes of any meeting at which the conflict was discussed or voted on. Any and all documentation deemed necessary and appropriate by the board for the sufficient evaluation and resolution of the conflict or potential conflict shall be submitted to the board.”

“Fsa abides by the same job classes and salary ranges established by westchester community college which follows the standards set by the county of westchester for all their employees. Compensation for the executive director is approved by the compensation committee and the college's cfo and controller who are both members of the faculty student association board of directors. Individuals receive yearly step increases depending on where they are within the salary range of their grade. Fsa ties the compensation to the csea's union compensation, mirroring the annual increases they receive in their contract. This process was last undertaken in 2020.”

“The organization's form 990 is available for public inspection as required under section 6104 of the internal revenue code. It is posted on new york state attorney general website, guidestar.org and other similar types of websites. In addition, the financial statements, form 1023, and by-laws are available upon written request at 75 grasslands road, valhalla, ny 10595 or by calling the organization directly at 914-347-3910.”

“Postretirement benefit plan liability adjustment -98,901.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”