Hartwick College

“The complete Form 990 including required schedules with the exception of Schedule B was provided to all Board members and officers electronically. The Schedule B provided electronically was the public disclosure copy which excludes donors names. Board members discussed any questions with the finance staff and the Audit and Compliance Committee passed a resolution to accept the 990 prior to filing.”

“The audit committee requires annual conflict of interest statements from all Board members and senior management. The chair of the audit committee reviews all forms and reports back to the committee any findings of conflict. Potential conflicts are directed to the audit committee. A dollar amount of $10,000 or greater is deemed a potential conflict. Any individuals with a conflict are required to recuse themselves from any discussion or voting that involves the related transaction.”

“The compensation of the President is recommended by a Compensation Committee to the Executive Committee who review and approve the compensation. The Compensation Committee reviews the President's performance and uses the CUPA-HR compensation survey as a tool for comparable salaries.The President reviews senior management compensation with the Executive Committee.The Audit and Compliance Committee independently reviews President and senior management compensation using comparative 990 data.”

“The College's governing documents, conflict of interest policy and financial statements are available upon request or by inspection at the College President's office.”

“Client Note 1 - PART IILine 42DEPRECIATION DETAILLand Improvements 178,171 Buildings 1,633,338 Equip. & Furniture 631,171 Library Books 164,134 TOTAL 2,606,815”

“Other program services 4: institutional support - institutional support expenses encompass expenditures incurred in the general administration of the college. Other program services 5: public service - public services expenses encompass those costs related to programs sponsored by the college primarily for the benefit of the residents of the local community and surrounding area. Other program services 6: academic support - academic support expenses entail costs incurred in the operation of campus based services which enhance the academic environment.”

“Interest rate swap = $67324”