Math and Science Academy

“The school's board is elected as follows: three parent/guardian members, two unaffiliated community members, and four certified teacher members are elected by the teachers and parents/guardians of enrolled students.”

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

“Prior to filing the form 990, the finance manager, treasurer, and school director will conduct a detail review. The board of directors is provided a copy of the filed form 990.”

“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 starting compensation of the executive director was/is determined based upon a comparison of salary and benefits offered for similar positions at charter schools in the region. Other considerations in making the initial determination are education, experience, and skills of the executive director. 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 follows a schedule that was updated in 2017-2018.”

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

“Per mn statute 124e.07, charter schools are required to have licensed teachers as members of the board of directors. Wendell sletten, isaac leonhardi, sarah harms and tami brooks are board members but received compensation for services as teachers. These teachers did not receive compensation for their services as board members.”

“Pension liabilities, deferred outflows & inflows pension: as a charter school in the state of minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The school's 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, deferred outflows and inflows, are reported on the school's statement of net position, the school is not in a position to directly control the liabilities or the subsequent liquidation of the liabilities.”

“Pension adjustment relating to net pension liabilities -302,087.”