Sheridan Allprep Academy

“The tax return and its supplemental schedules will be submitted to the board of directors for review prior to the filing of the tax return.”

“Board members disclose conflict of interest at the board meetings when an issue presents itself. The board member will recuse him or herself from the meeting and return after the topic has been discussed and/or resolved.”

“Comparable data is reviewed for teacher salary through the oregon department of education and other local school districts”

“Available upon request at the administrative office.”

“Available upon request at the administrative office.”

“In the current year, the board of directors approved the following language changes to the organization's bylaws. The board of directors has determined that none of the changes to bylaws are considered significant changes. 1. Language change to the nomination and election of officers 2. Elimination of the secretary position 3. Elimination of executive director/principal under officers 4. Add other personnel and include in this section executive director/principal and business manager and their respective duties 5. Change committees title and eliminate the nominating and standing committee and changing committee functions”

“The organization's beginning net position was restated in the june 30, 2015 audited financial statements for the implementation of gasb 68 (governmental accounting standards board - accounting and financial reporting for pensions). Gasb 68 restated the beginning balances of deferred inflows and the net pension asset liability for the oregon pers (oregon public employees retirement system). Gasb 68 is a required accounting pronouncement that was required to be implemented for organizations with public pension plans. Gasb 68 was effective for organizations with fiscal years beginning after june 15, 2014. Due to requirements under gasb 68 and the restatement of the organization's audited financial statements, the beginning balances of deferred inflows and the net pension asset have been restated on the tax return to reflect the balances on the june 30, 2015 audited financial statements. In addition, the current year pension asset, deferred outflow of resources, deferred inflows of resources and the pension credit are additional line items that are now being reported on the organization's financial statements and tax returns.”