Aspen Academy

“All staff members who are employed at the school, including teachers providing instruction under a cooperative, and all parents of children enrolled in the school may vote in the board member election. Each family of an enrolled student will get a maximum of two votes; those votes will be cast by the parents or legal guardians of the student only.”

“The form 990 was prepared by an independent cpa firm and reviewed by the finance committee. A copy was provided to the board of directors for review prior to filing with the irs.”

“The organization's conflict of interest policy covers all board members. The determination as to whether a conflict of interest exists is to be made by the school board. Any school board member who has an actual or potential conflict shall notify the school board of such conflict immediately. The school board member shall thereafter cooperate with the school board as necessary for the school board to make its determination. When a conflict of interest exists with a bank or savings association, the conflicted board member must disclose their interest and the interest must be documented in the minutes. When a conflict of interest exists relating to a contract for which competitive bids are not required by law, the school board member must file an affidavit containing the member's interest and the contract's terms with the school board clerk, and the school board must authorize the contract in advance of its performance determining that the price is appropriate. The school board must unanimously approve interested contracts when they relate to: banks/saving associations; the designation of an official newspaper, or publication of official matters; contracts with a cooperative association of which the member is a shareholder but not a manager or officer; contracts for which competitive bids are not required by law; contracts to rent space in a public facility to the school. The school board must approve interest contracts by a majority when all members are present when they relate to the compensating a board member - the member may not earn more than $5,000 in a fiscal year.”

“The board reviews the school director's performance and uses market rate analysis to determine the compensation of school director. The school director uses the starting pay scale based on number of years of experience in the classroom to determine the school teachers' compensation. These processes were last undertaken in 2014, including the school director c. Sherar.”

“The school makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“The school follows a modified accrual method of accounting as prescribed by the minnesota department of education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.”