Sol Aureus College Preparatory

“Sol aureus does not have a committee with authority to act on behalf of the governing body.”

“The 990 is reviewed by the finance committee and the full board annually; typically in the spring as it coincides with the tax filing and the board's annual retreat. A member of the finance committee is responsible for facilitating the completion of the 990 review, reviewing elements of the 990, and highlighting any changes since the last filing.”

“Around the time of the board retreat, the conflict of interest is reviewed by the full board. Members are asked to read and sign the agreement signifying that they have received, read, and reviewed the policy. Any contract or agreement is reviewed by the board before the director is allowed to execute an agreement. During the review process by the board, all members of the board, particularly the board chair and finance committee, are empowered to and regularly ask questions regarding potential conflict of interest. Most school business rarely, if ever, involve any overlapping relationships that would fall under the conflict of interest policy. Monitoring is performed reguraly by the officers to identify potential conflicts of interest. The chairperson appoints a disinterested person or committee to investigate the transaction in question and report findings to the board. Alternatives to the proposed transaction are identified and compared to the proposed transaction. The board votes on the most beneficial option for the organization. If the board has reason to believe an interest person has failed to disclose the potential conflict, the board will investigate further and if necessary, take appropriate disciplinary and corrective action.”

“The director of operations' compensation is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the director of operations' compesation as a direct action.”

“The organization makes it's governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Other fees for service: program service expenses 67,046. Management and general expenses 8,075. Fundraising expenses 0. Total expenses 75,121. Special education encroachment fees: program service expenses 585,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 585,000.”

“The process has not changed from prior year.”