Swan River Montessori Charter School

“The school has two classes of members: parents/guardians of enrolled students and employee members.”

“Parents or guardians of students and staff are members eligible to vote for board members.”

“Changes to the school's governance model must be approved by a majority of the board of directors and the licensed teachers employed by the school, as well as the school's authorizer.”

“The school does not have any committees that have the authority to act on behalf of the governing body.”

“The form 990 is prepared by an independent accounting firm and reviewed in conjunction with the school's accounting services provider when the form 990 is filed. Copies are provided to the board members either by hard copy or electronically for their review.”

“Annually, board members and key employees complete a full disclosure statement which includes the member, spouse, and close relatives and potential conflicts of interest. Determination on potential conflicts is made by the remaining board of committee members. Conflicted individuals may not vote on or participate in the discussion involving any actions that gave rise to the conflict. All proceedings are documented in the meeting minutes.”

“The board determines the school director's salary based on annual performance reviews and comparative compensation information from other minnesota charter and montessori schools as part of the annual budget process. This process was last conducted for fiscal year 2017 for school director, katie curtis. The board of directors approved a salary schedule for employees that was based on comparative compensation information conducted for fiscal year 2015. The director conducts annual performance reviews on all staff and makes recommendations to the board of compensation annually. The board makes final determinations on compensation as part of the annual budget process, generally a flat percent among all staff.”

“The school makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Other professional service fees: program service expenses 284,373. Management and general expenses 13,029. Fundraising expenses 0. Total expenses 297,402.”

“Change in pension liability 318,160.”

“The school follows a modified accrual method of accounting as prescribed by the minnesota department of education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.”