Rockford Day Nursery

“The accounts of the Treasurers shall be audited annually by an auditor selected by the board of directors. The executive director shall communicate and cooperate with the auditor for purposes of timely completion of the audit. A rough draft of the audit and the Form 990 shall be emailed to the executive director who will then e-mail it to the board of directors for review and comments, questions, or suggestions. The executive director will work with the auditor to resolve any outstanding issues before the audit and Form 990 are finalized. The auditor will meet with the board of directors to go over the audit and the Form 990 and the board of directors will vote on acceptance of the finalized audit and Form 990 before they are filed. These reports shall be placed on file with the corporation.”

“All directors, principal officers, and members of a committee with governing board delegated powers shall annually sign and statement which affirms such person: 1. Has received a copy of the conflicts of interest policy, 2. has read and understands the policy, 3. Has agreed to comply with the policy, and 4. Understands the organizations is charitable and in order to maintain its federal tax exemption must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The Board shall set the pay range and specific components of the total compensation package for the Executive Director. In accordance with our Personnel Policies, No person shall be considered for employment while him/her or a member of his/her immediate family serves on the Board of Directors. At least three different compensation samples from individuals with similar positions in similar organizations, both profit and tax exempt shall be documented. There shall also be documentation of amount approved, date, members who were present and voted, any conflicts, and basis of any discussion. The Executive Director shall be eligible for retirement plans, travel expense reimbursement, educational expenses and other fringe benefits on the same basis as other full time employees, as defined in the personnel policies. The Executive Director will have a miscellaneous management expense line item in the budget for business expenses that do not fall into other expense line items. These expenses will be substantiated with receipts and reviewed by the board of directors monthly along with all other income and expense accounts.”

“Information is available upon request during normal business hours at the organization's location. Additionally, our audit and tax return is on file with Dun and Bradstreet and interested parties can request that information from them. Our audit and 990 is on file with the State of Illinois and is available to any funders through that source.”

“The organization's board of directors is responsible for the selection of the independent auditor to perform the audit of the financial statements and oversees the audit process and reporting. This process has not changed from the previous year.”