The Childrens Corner Inc

“The Board of Directors reviews the final operating and other financial statements after the end of the fiscal year, and has access to any post year-end adjustments that may be made prior to the filing of the Organization's Federal Tax Return. The Director of the Organization reviews, signs and files the Organization's tax return. The Tax Return is available for review and inspection by the Board; and is also available to other interested parties upon request.”

“The contracts or agreements entered into by the School seldom if ever involve engaging with any individual or organization associated with or affliated with any Member of the Board, which is responsible for the approval of such contracts or agreements.”

“All compensation - for the Director and Teacher Salaries - is approved by the Board in conjunction with its approval of the Operating Budget for the School.”

“As indicated above, the Board approves all compensation, including that of the Director of the School.”

“Governing documents of the Children's Corner, Inc. are made available to the public, or other interested parties, upon request.”

“Prior period adjustment. During the year, the Organization corrected an error related to playground equipment that had been capitalized in prior years without recording depreciation. The equipment (originally capitalized at $59,713) was more than 25 years old and determined to have no remaining service potential. Consistent with ASC 250 (error correction), the Organization recorded a prior period adjustment to beginning net assets and removed the asset from the books. The net effect on beginning net assets was a decrease of $59,713. This adjustment does not affect current year revenues or expenses.”