Stride Academy Charter School

“After review and changes (if any) by the Director and Business Manager, the public disclosure copy of the return will be given to each board member for their review prior to filing.”

“The Academy's Conflict of Interest Policy applies to its directors and officers. Directors and officers are required to disclose any known or potential conflicts of interest in writing to the Board of Directors prior to the time set for voting on any such transaction. The individual with a conflict may not attempt to influence the decisions of other directors in voting on the matter and may not be present during a vote on the matter. The situation is documented in the Board Minutes. Failure to bring notice of a potential conflict of interest to the attention of the Board may constitute cause for removal of the individual from the Board.”

“Determination of the compensation of all employees included review and approval by independent persons, comparability data and contemporaneous substantiation in the Board Minutes. This procoess included the Executive Director.”

“The Academy's governing documents, conflict of interest policy, and financial statements are available upon request.”

“The School implemented two new accounting standards (GASB 68 and 71) for the year ended June 30, 2015 which required recognition of the schools proportionate share of the unfunded pension liability. As a charter school in the state of Minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The schools contributions to the plans are also regulated by statute and are based on a percentage of salaries and wages earned by current employees. Therefore, while the Net Pension Liability is reported on the schools Statement of Net Position, the school is not in a position to directly control the liability or the subsequent liquidation of the liability.”

“Per MN Statute 124D.10, Charter Schools are required to have licensed teachers as members of the Board of Directors.Nathan Schwieters, Monica Schraut, Daniel Thole, Jenny Justice and Caroline Ruegemer are board members but receive compensation for their services as teachers.”