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.”

“All conflict of interest forms and documents are completed during the annual board retreat. All employees, officers, and directors are covered under the organization's conflict of interest policy. Monitoring is performed regularly by the officers to identify potential conflicts of interest. The board or designated committee reviews any conflicts presented by interested parties. 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. Any questions of a conflict are addressed with the designated employee, who is required to disclose the existence of any material financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. The board votes on the most beneficial option for the organization. If the board has reason to believe an interested person has failed to disclose the potential conflict, the board will investigate further and if necessary, take appropriate disciplinary and corrective action. If a conflict of interest is identified, the organization will not enter into any contract or transaction in which a designated employee has a material interest or there will be limitations to the individual's influence on related business matters within discussion and voting. All deliberation and decisions are recorded in meeting minutes.”

“The principal's 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 superintendent's compensation as a direct action. Changes cannot be made without board approval. The process described here was last completed in 2024.”

“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 55,404. Management and general expenses 31,511. Fundraising expenses 0. Total expenses 86,915. Special education encroachment fees: program service expenses 653,874. Management and general expenses 0. Fundraising expenses 0. Total expenses 653,874.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”