Minnesota Internship Center Charter School

“All parents and guardians of students at the school and all staff employed by the school are eligible to vote in the elections for board positions.”

“The form is reviewed by the executive director and administrative staff before filing and is available for examination by the board at any time.”

“The conflict of interest policy covers all school board members. It is the policy of the charter school board to conform with statutory conflict of interest laws and, in addition, act in a manner that will avoid any conflict of interest or the appearance thereof. The finance office gathers responses, reviews and reports to the executive director who shall determine if a conflict exists. Individuals determined to have a conflict of interest shall not participate in the discussion except to answer questions and shall not vote on the matter. All proceedings related to conflicts of interest are documented in the meeting minutes or as otherwise appropriate. All members are reviewed annually and required to complete and submit a written acknowledgement and disclosure.”

“The board determines and sets the executive director's compensation annually. The discussion is held within the finance committee meeting of the board and the decision is reported to the board for discussion and approval. The base wage is determined at hiring by the board and subsequent years the wage is adjusted by the same percentage of increase or decrease the entire staff receives as determined by the finance committee and approved by the board. This process was last undertaken in june 2015 for the executive director, k. Byrne. Compensation for other officers and key employees goes through a board review each fiscal year and was last undertaken in june 2015.”

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

“Change in pension liability -1,193.”

“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.”