Yinghua Academy

“Each parent and legal guardian of a child enrolled at the school and each employee of the school shall have the right to exercise one vote for its board candidates.”

“The board of directors reviews the public disclosure copy of the form 990 prior to filing.”

“Yinghua board members sign an annual conflict of interest statement each year (new and incoming). The statments are provided to yinghua's authorizer, friends of education, for review. Any concerns are vetted back with the yinghua board. Corrective actions could include members recusing themselves from discussion or voting when there is a perceived conflict of interest up to a board member resigning.”

“Comparable salaries for charter school executive directors are reviewed by the board. Additionally, the exective director is scored by rubric in order to determine compensation increases.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request for the same period of disclosure as set forth in section 6104(d).”

“Related board members per mn statute 124e.07, charter schools are required to have a licensed teacher as a member of the board of directors. Pamella stommes is a board member but received compensation for their service as a teacher.”

“Transportation: program service expenses 546,877. Management and general expenses 43. Fundraising expenses 0. Total expenses 546,920. Food service: program service expenses 509,155. Management and general expenses 11,800. Fundraising expenses 0. Total expenses 520,955. Other: program service expenses 690,073. Management and general expenses 64,553. Fundraising expenses 0. Total expenses 754,626.”

“Pension liabilities, deferred outflows & inflows pension: as a charter school in the state of minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The school's 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, deferred outflows and inflows, are reported on the school's statement of net position, the school is not in a position to directly control the liabilities or the subsequent liquidation of the liabilities.”

“Gasb 68 - pension adjustment 280,599.”