Agamim Classical Academy

“By the end of the third year of school operations, board members must include at least one licensed teacher employed at the school or a licensed teacher providing instruction under a contract between the charter school and a cooperative; the parent or legal guardian of a student enrolled in the charter school; and an interested community member who is not employed by the charter school and does not have a child enrolled in the school.”

“The school does not have any committees that have authority to act on behalf of the governing body.”

“The form 990 is prepared by an independent accounting firm and reviewed in detail by the school's finance committee. The reviewed form 990 will be made available to all board members prior to filing with the irs.”

“All board members are covered under the conflict of interest policy and are required to disclose annually any interests that could give rise to conflict. The determination as to whether a conflict of interest exists is to be made by the school board. Any school board members who has an actual or potential conflict shall notify the school board of such interest immediately. The school board member shall thereafter cooperate with the school board as necessary for the school board to make its determination. Individuals determined to have a conflict of interest may not participate in the discussion nor the vote. All proceedings related to conflicts of interest are documented in the meeting minutes. See the school's website for more information on this policy.”

“The school's board of directors reviews and approves compensation for all staff using market rate analysis as part of the annual budget review process. The deliberation and decision is documented in the meeting minutes. The review was last completed in 2015.”

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

“Other professional services: program service expenses 62,460. Management and general expenses 42,512. Fundraising expenses 0. Total expenses 104,972. Special education consulting: program service expenses 116,007. Management and general expenses 0. Fundraising expenses 0. Total expenses 116,007.”

“Change in pension liability 25,132.”

“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.”