Lincoln International Charter School

“Staff members employed at the school, including teachers providing instruction under a contract with a cooperative, and all parents or legal guardians of children enrolled in the school are the voters eligible to elect the members of the school's board of directors. A charter school must notify eligible voters of the school board election dates at least 30 days before the election. Board of director meetings must comply with ch.13d.01 et seq, the minnesota open meeting law.”

“The form 990 will be reviewed and approved by the school's finance committee and board of directors.”

“For-profit prohibition - a member of the school board of directors is prohibited from serving as a member of the board of directors or as an employee or agent of or contractor with a for-profit entity with whom the school contracts directly or indirectly for professional services, goods, or facilities. Non-profit disclosure - a member of the school board of directors that serves as a member of the board of directors or as an employee or agent of or a contractor with a non-profit entity with whom the school contracts directly or indirectly for professional services, goods or facilities must disclose all potential conflicts to the minnesota commissioner of education who will determine if a conflict exists. No employee, officer or agent of the school participates in selection, or in the award or administration of a contract supported by federal funds if a conflict of interest, real or apparent, would be involved. Such a conflict is defined when the employee, officer or agent, or any member of his or her immediate family, his or her partner, or an organization which employs or is about to employ any of the above, has a financial or other interest in the firm selected for award. The school will not permit a person to participate in an administrative decision regarding a project if, 1. The decision is likely to benefit that person or a member of his or her immediate family, 2. The person is a public official, 3. The person has a family or business relationship with the school. The school will not permit any person participating in a project funded by government funds for a purpose that is or gives the appearance of being motivated by a desire for a private financial gain for that person or others. All proceedings related to conflicts of interest are documented in the meeting minutes or as otherwise appropriate.”

“The compensation packages for the school director and other employees are determined by the board. The board used market rate analysis and performance reviews to determine the compensation.”

“The governing documents, conflicts of interest policy, and financial statements available to the public upon request.”

“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. Justine clark and leeka gwanganalie are board members, but received compensation for their services as teachers.”

“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 -64,408.”

“The board of directors are responsible for the selection of an independent auditor and for the oversight of the audit of the financial statements. This process has not changed from prior year.”