Oak Meadows

“Executive committee consists of president, vice president, secretary and treasurer of the board of directors. The executive committee may exercise all powers of the board during intervals between meetings of the board, except that the executive committee may not take action with respect to the disposition of property in the event of dissolution of this corporation, the disposition of material assets of this corporation, or the incurring of corporate indebtedness in any amount in excess of ten thousand dollars.”

“The form 990 was reviewed by the treasurer and the finance committee and presented to the full board for approval prior to filing.”

“Oak meadows' conflict of interest policy applies to the board of directors and senior management. Each member of the board of directors and senior management is required to annually sign a form disclosing possible conflicts of interest. During any board or committee meetings, an individual with an actual or potential conflict is required to disclose the relevant facts before any discussion occurs. If it is unclear whether a conflict exists, the remaining board members make the determination by majority vote. If an individual has a conflict, they may not participate in discussions or votes concerning the matter. If a member of senior management has a conflict, they disclose the fact to the ceo and to the president of the board of directors. All proceedings related to conflicts of interest are documented in the meeting minutes.”

“Annually the board of directors determines the executive director's salary based on a recommendation from the personnel committee as part of the annual budgeting process. Per the board governance policy, the personnel committee completes a review of the executive director's performance based on the criteria outlined in the policy. Additionally, the personnel committee prepares a salary recommendation based on the results of the review, current economic conditions including the financial status of oak meadows, and knowledge of competitive salaries. Periodically, the board purchases competitive salary information to provide that knowledge. Currently the board is using a report from weibusch healthcare consulting, inc., titled "recommendation for oak meadows executive director's compensation", dated september 7, 2006 as the base-line. The personnel committee provides its recommendation to the board in a written report distributed at the august meeting of the board. The process was last completed in august, 2007 for the executive director, connie dow. Other key employees' salaries are determined by competitive rates within the field as determined by salary compensation surveys provided through care providers of minnesota and aging services, length of service and performance. All salaries are approved by the board of directors. The process included review and approval by independent persons, comparability data and contemporaneous substantiation in 2009.”

“Oak meadows' financial statements, governing documents and conflict of interest policy are available upon request.”