Math and Science Academy

“The Academy does not have any committees that have the authority to act on behalf of the governing body.”

“The Form 990 is prepared by school accountant. Prior to filing the form 990, the Finance Manager, Treasurer, and School Director will conduct a detail review and provide the approved draft of the form 990 to the full board for any change requests or questions.”

“The School's conflict of interest policy covers Officers and Board Members and requires each covered individual to notify the Board of Directors about any actual or potential conflicts of interest upon acknowledgment that a conflict may exist. The conflicted individual is expected to report all material facts to the Board, who shall determine whether a conflict exists without the conflicted individual. The conflicted individual may not vote or participate in the determination process. All conflicts and proceedings are documents in the meeting minutes.”

“The process for determining the School Director's compensation was two fold. First, the Director's evaluation committee looked at the MN Association of Charter Schools 2013-2014 compensation survey report. Second, the evaluation committee went through an extensive process involving feedback from teachers, board members and students. A report was issued which summarized the process and results. The Director notified the board that he would be resigning at the end of this year's contract.”

“Salary increases for all staff are determined by the budget committee based on estimates of benefits, funding and after review of comparability data. Teachers who serve on the Board are not compensated for their services as Board Members/Officers but rather for their services as teachers at the school. The Annual Employment Contract is approved by the Board of Directors for each employee. In addition, all teaching staff salaries are determined on a step and lane board approved grid. This process was most recently conducted in 2013-2014.”

“The School makes its governing documents, conflict of interest policy, and financial statements available to the public on its website and/or upon request.”

“The School implemented two new accounting standards (GASB 68 and 71) for the year ended June 30, 2015 which required recognition of the schools proportionate share of the unfunded pension liability. As a charter school in the state of Minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The schools 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 is reported on the schools Statement of Net Position, the school is not in a position to directly control the liability or the subsequent liquidation of the liability.”

“Per MN Statute 124D.10, Charter Schools are required to have licensed teachers as members of the Board of Directors. Tim Tydlacka, Shannon Froberg, Dan Keller, and Jessie Heydt are Board Members, but received compensation for their services as Teachers. These teachers did not receive compensation for their services as Board Members.”