Aspen Academy

“The board of directors are nominated and voted on by parents, guardians and employees.”

“The draft form 990 is reviewed by the finance committee. A copy is provided to the board of directors for review prior to filing with the irs.”

“The 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 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/savings 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 insterested contracts by a majority when all members are present.”

“The board reviews the executive director's performance and uses market rate analysis to determine the compensation. The executive director uses the starting pay scale based on number of years of experience in the classroom to determine the school teachers' compensation.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d).”

“Food service: program service expenses 477,170. Management and general expenses 0. Fundraising expenses 0. Total expenses 477,170. Student transportation: program service expenses 136,221. Management and general expenses 0. Fundraising expenses 0. Total expenses 136,221. Other fees for services: program service expenses 525,626. Management and general expenses 99,595. Fundraising expenses 0. Total expenses 625,221.”

“Gasb 68 - pension adjustment 174,758.”