St Hope Leadership Academy Charter School

“Form 990 was prepared by a national accounting firm in conjunction with the organization's finance department. The finance committee reviews the 990 and reports to the governing body for their review and approval.”

“Under the general municipal law, no school officer or employee may have an interest, direct or indirect, in any contract with the school, when such trustee, officer or employee, individually or as a member of the board, has the power or duty to (a) negotiate, prepare, authorize or approve the contract, or authorize or approve payment under the contract; (b) audit bills or claims under the contract; or (c) appoint an officer or employee who has any of the powers or duties set forth above. Any contract willfully entered into by or with a school in which there is a prohibited interest is void and unenforceable. In addition, any trustee, officer or employee who willfully and knowingly violates the foregoing provisions shall be guilty of a misdemeanor. The law further authorizes, in addition to any other penalty imposed, that any person who knowingly and intentionally violates the above may be fined, suspended, or removed from office or employment in the manner provided by law. Any trustee, officer or employee who has, will have, or later acquires an interest in any actual or proposed contract with the board must publicly disclose the nature and extent of such interest in writing to the board as soon as he/she has knowledge of it. The law requires that written disclosures be made part of and set forth in the minutes of the board. Each trustee, principal officer and member of a committee with board-delegated powers shall annually sign a conflict of interest statement.”

“The board of trustees of the school determines the compensation of the officers. In order to determine the compensation for the officers, the st hope leadership academy charter school utilizes a combination of sources including a) information of compensation paid to the officers, directors and employees of other charter schools and other similar organizations available through public records posted on the guidestar website b) experience of the executive committee members in determining the compensation of such positions c) available budget of the school and the experience of the individuals applying or providing service to the school.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, and governing documents are also available upon written request.”

“The school has a finance committee that is responsible for the oversight of the audit of its financial statements and the selection of an independent accountant. The process has not changed from the prior year.”