Foundation Academy Charter School

“The charter school finance committee reviews the form 990 return prior to submission and filing with the irs.”

“Each school official and key employee, and each member of the board of trustees must complete a "school ethics/personal/relative disclosure statement," pursuant to applicable new jersey state law. These forms are filed with the appropriate governmental entities, also per applicable new jersey state law.”

“Salary and compensation of the ceo/lead person of the school is reviewed and evaluated by board of trustees of the foundation academy charter school on an annual basis. In conducting such review and evaluation, factors such as personal strengths and weaknesses, as well as goals and achievements of the charter school, and comparable salary data are all given due weight and consideration. The ultimate compensation evaluation and recommendation is thereafter approved by the board of trustees of the charter school.”

“Salary and compensation of officers, key employees and all teachers are reviewed and evaluated by the charter school lead person and business adminstrator on an annual basis. In conducting such review and evaluation, factors such as teacher performance, education, experience, longevity and comparable area standards for the profession, are given due weight and consideration. All such compensation evaluations and recommendations are reviewed and approved by the board of trustees of the charter school.”

“The minutes for the meetings of the board of trustees of the foundation academy charter school are available to the public on the school's website. Annual audit and financial reports of the charter school are available on the state of new jersey department of education website. Other charter school information is available on the school website, or will be provided upon request.”

“Foundation academy charter school follows state and federal regulations and standards governing record retention and destruction.”

“A prior period adjustment was entered to reflect the prior year-end net pension liability of $1,183,048, reduced by the deferred pension payments subsequent to the june 30, 2014 year end of $78,372, for a net prior period adjustment of $1,104,676. This resulted in a restated net position for june 30, 2014, of $143,843; the original net position at june 30, 2014 was $1,248,519. This prior period adjustment was necessitated as a result of the reporting standards set forth by gasb 68.”

“While foundation academy charter school does not currently have a written whistleblower policy, procedures and practices are in place for the filing of complaints against any co-worker or against the school itself, if any such school employee reasonably believes that a co-worker, or the school itself, is conducting an illegal or wrongful act. School practice and policy also prohibits retaliation against any employee who submits any such complaint.”