Bdote Learning Center

“The executive committee consists of the chairperson, vice chairperson, secretary and treasurer along with up to two additional board members, and is authorized to act for the board in such matters as the board may direct during intervals between board meetings. The executive committee is at all times subject to control and direction of the board and reports to the board on its actions.”

“The form 990 is prepared by an independent accounting firm and is reviewed in detail by management. The entire board of directors will review the prepared form 990 prior to filing with the irs.”

“All board members and employees are required to complete a conflict of interest form yearly coinciding with the audit. In connection with any actual or possible conflicts of interest, an interested person must disclose the existence and nature of his or her relationship or material financial interest to the directors, officer(s), members of committee(s) with board delegated powers, or key employee(s) considering the proposed transaction or arrangement, at or prior to the meeting of the board or committee considering the proposed transaction or arrangement, or other time for action if no meeting is required for the proposed transaction or arrangement. An interested person may make a presentation at the board or committee meeting at which the transaction will be discussed or to the key employee(s) considering the transaction, but after such presentation, he or she shall leave the meeting during the discussion of, and the vote on, if any, or other approval of, the transaction or arrangement that results in the conflict of interest. An interested person shall not otherwise attempt to exert his or her personal influence with respect to the matter, either at or outside the meeting. A key employee who is an interested person shall disclose the fact of such interest to his or her supervisor or to the chair of the board of directors if such employee reports directly to the board of directors, and shall not participate in the approval of the transaction or arrangment regarding which the employee is an interested person. All deliberations and decisions are documented in the meeting minutes, or as otherwise appropriate.”

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

“Other purchased services: program service expenses 79,896. Management and general expenses 115,520. Fundraising expenses 0. Total expenses 195,416.”

“Change in accounting principle -78,981.”

“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.”

“The process is consistent with the prior year.”