Saint Francis University

“The minister provincial of the province of the most sacred heart and the president of the university are ex officio members of the board of trustees. Both serve on the governing board of the province of the most sacred heart of jesus.”

“The university contracts with parkhurst dining services to manage the food service operations of the university. The food service manager, several supervisors, and a majority of the hourly employees are parkhurst employees. The balance of 10-15 other food service and catering employees are employed by saint francis university. The vp of finance has regular meetings with the manager and parkhurst to discuss operational issues.”

“The university's by-laws establish that the minister provincial of the province of the most sacred heart and the president of the university are ex officio members of the board of trustees.”

“The by-laws of saint francis university provide that at all times at least twenty percent of the members of the board of trustees shall also be members of the province of the most sacred heart of jesus of the third order regular or members of the third order regular.”

“The by-laws of saint francis university provide that the board of trustees shall observe the laws of the roman catholic church respecting the university and all property of the university. The by-laws require that, before taking action on certain proposals as outlined in the by-laws, the board shall refer the proposal to the provincial council of the province of the most sacred heart of jesus of the third order regular to secure any and all approvals and authorizations for such action that may be required under roman catholic church law. In addition, the by-laws of saint francis university require that the president of the university shall be elected by the trustees from among the friars of the third order regular of saint francis of penance, after receiving the recommendations made by the nominating committee of the board.”

“All trustees received an email containing a copy of the 990 before it was submitted. The audit committee reviewed the 990 in detail prior to filing. Trustees have received training on their responsibilities for the 990 return. The return is reviewed in detail by management including the controller and vp of finance and administration prior to any board or committee review.”

“Every year board members are required to sign a conflict of interest policy statement. The statements are then reviewed and monitored by the president's office. The conflict of interest policy describes how conflicts are handled as they arise.”

“A compensation study and review is conducted annually to ensure that compensation does not exceed fair market value. Each year the hr director, in conjunction with the university's presidents council and board of trustees finance committee, reviews all salaries and benefits of the vice presidents and the president. Each employee has a specific job title that corresponds with the benchmark reports used. Cupa data is used to assist in setting benchmarks. The benchmark salaries for a particular year are updated each year prior to salary increases being computed. The vp for finance reviews the report with the hr director for final approval. All of the guidelines and steps taken are outlined and explained in the compensation handbook.”

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Change in the valuation of split-interest agreements 11,836. Transfer to affiliate -7,519.”