The Janus School

“The director of finance performs an initial review. Subsequent to this review, the finance committee reviews the return in the presence of the organization's public accountant. Once the finance committee approves the draft, the final form 990 is prepared to the board of directors prior to the filing of the return with the irs.”

“Section 7.04 of the bylaws states that no contract or transactions between the school and one or more of its trustees or officers, or between the school and any other corporation, partnership, association or other organization, partnership, association or other organization in which one or more of its trustees are directors or officers, or has a financial interest, or in which any trustee or officer has any other conflict of interest, shall be authorized or entered into unless the material facts as to his or her interest and as to the contract or transaction are disclosed or are known to the board or trustees, and the board, in good faith, authorizes the contract or transaction by a majority vote of those trustees present and voting other than the interested trustee or trustees. Interested trustees shall be counted in determining the presence of a quorum at a meeting of the board of trustees which authorizes the contract or transactions. Each board member will receive a conflict of interest statement to complete at the first board of trustee meeting of the fiscal year.”

“Compensation for the organization's ceo, head of school, top management officials, officers and key employees is based on years of experience and each individual's rank in terms of the nais (national association of independent schools) salary survey for the specific position to ensure all salaries are within fair market range for the industry. The "head support and evaluation" committee, a sub-committee of the board of trustees, is responsible for performing this process for the head of school. All discussions are within executive sessions and are not documented. The full board of trustees makes the final decision for the head of school's compensation. Any conclusions on compensation open to the full board are documented. The head of school approves all other compensation.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

“The organization did not have any instances where backup withholding was required; however, if the situation would arise, the organization is aware of the reporting requirments and would handle that accordingly.”

“Book/tax diiference on sale of investment 11,636.”

“The organization does have a finance committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant. This process has not changed from prior year.”