College Prep Elementary

“All school employees and parents/guardians of currently enrolled students form the constituency of the school's voting body and elect the school's board of directors”

“The form 990 will be reviewed by the school's accounting manager and school director. A public disclosure copy will then be provided to the board or a committee of the board for final review prior to filing.”

“The school has adopted a board of directors conflict of interest policy and the policy is monitored at the board level. Each new director must complete a conflict of interest statement within 30 days of their election, and shall annually complete such a statement on the anniversary of their election or on such an annual date the board may elect, such as the annual meeting. Disclosure in the school should be made to the board chair (or if she or he is the one with the conflict, then to the school director), who shall bring the matter to the attention of the board. Disclosure involving board members should be made to the board chair, (or if she or he is the one with the conflict, then to the board vice-chair) who shall bring these matters to the board. The board shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable. The decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of the organization and the advancement of its purpose. An individual is prohibited from serving as a member of the board of directors if the individual, an immediate family member, or the individuals partner is a full or part owner or principal with a for-profit or nonprofit entity or independent contractor with whom the charter school contracts, directly or indirectly, for professional services, goods, or facilities. An individual is prohibited from serving as a board member if an immediate family member is an employee of the school.”

“The annual process for determining the school director's compensation involves looking at what similarly situated charter schools are paying for their top officials. A board sub-committee then takes those figures and compiles a competitive compensation package. Other key employees of the school, director of education and cpe office manager, are evaluated annually by the school director.”

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

“Related board members per mn statute 124e.07, charter schools are required to have a licensed teacher as a member of the board of directors. Shelly patraw, stacy johnson, andrew xiong, and kia yang are board members but received compensation for their services as teachers.”

“Pension liabilities, deferred outflows & inflows pension: as a charter school in the state of minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The school's contributions to the plans are also regulated by statute and are based on a percentage of salaries and wages earned by current employees. Therefore, while the net pension liability, deferred outflows and inflows, are reported on the school's statement of net position, the school is not in a position to directly control the liabilities or the subsequent liquidation of the liabilities.”