Nasha Shkola

“Except for the power to amend the articles of incorporation and bylaws, the executive committee shall have all the powers and authority of the board in the intervals between meetings of the board, and is subject to the direction and control of the full board.”

“The school's members include teachers providing instruction under contract with a cooperative and all parents/guardians enrolled at the school.”

“The school's members are eligible to elect the members of the school's board of directors.”

“The board's executive committee will review the prepared form 990 and recommend its adjustments or approval to the full board for approval after its completion by an independent accounting firm.”

“At the board level, conflicts are asked to be disclosed prior to entering any conversation regarding contracts or employment opportunities. The determination as to whether a conflict of interest exists is to be made by the school board. Individuals with a conflict of interest with respect to a matter being deliberated by the board may not participate or vote on such matters. All deliberations and decisions involving conflicts of interest are documented in the meeting minutes or as otherwise appropriate.”

“The compensation of the school director is computed by research of comparable salaries through macs charter schools by the board of directors and documented in a letter of offer. This process last took place in 2012.”

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

“Change in pension liability -33,224.”

“The school follows a modified accrual method of accounting as prescribed by the minnesota department of education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.”

“During fiscal year ended june 30, 2015, the school adopted gasb statement no. 68, accounting and financial reporting for pensions, and the related gasb statement no. 71, pension transition for contributions made subsequent to the measurement date - an amendment of gasb statement no. 68. As a result, the school's net position as of june 30, 2014 has been restated to reflect the recognition of the school's proportionate share of the public employees' retirement association of minnesota general employees' retirement fund's net pension liability as well as their portion of the teacher's retirement association's coordinated and basic plan net pension liability.”