Hope Community Academy

“The executive committee shall consist of the officers of the corporation. The committee is commissioned by and responsible to the board in matters of emergency and in interim periods between regularly scheduled board meetings. The executive committee shall have and exercise the authority of the board in the management of the corporation, provided that such authority shall not operate to circumvent the responsibility and authority of the board.”

“Staff members employed at the hope community academy corporation, and all parents or legal guardians of children enrolled in the school, and community members of the corporation's board of directors are eligible voters in the election of the members of the school's board of directors. Voting eligibility expires upon the end of employment for staff members, the end of enrollment of children for parents and legal guardians, and the end of board service for community members.”

“The board governance structure can be changed only: by 1) a majority vote of all teacher employed by the school, and, 2) a majority vote of the existing board of directors (at no time can an eligible voter have two votes because of board membership) and, 3) the authorizer's approval.”

“The form 990 is prepared by the academy's accountant and reviewed by management. The final form 990 is sent to the board for review.”

“All board members and employees scrupulously shall avoid any conflict between their own respective personal, professional or business interests and the interests of the academy, in any and all actions taken by them on behalf of the academy, in their respective capacities. In the event that any officer, director, employee or committee member of the academy shall have any direct or indirect interest in, or relationship with, any individual or organization which proposes to enter into any transaction with the academy, such person shall give notice of such interest or relationship and shall thereafter refrain from discussing or voting on the particular transaction in which he has an interest, or otherwise attempting to exert any influence on the academy, or its components to affect a decision to participate or not participate in such transaction. Conflicts shall be reviewed and determined by the remaining board or committee members. Proceedings related to conflicts of interest are documents in the meeting minutes or as otherwise appropriate.”

“The board creates an ad-hoc committee annually made up of the officers of the board. The executive director presents on performance against goals and discusses with the committee. The committee then brings a recommendation to the full board on renewal of the executive director's contract. Compensation changes for other staff are approved when the board approves the budget and is documented in the board minutes.”

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

“Related board members per mn statute 124e.07, charter schools are required to have licensed teachers as members of the board of directors. Andy grover and zuag lee are board members but received compensation for their services as teachers.”

“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 expense relating to net pension liabilities -319,933. Direct aid contributions relating to net pension liabilities 18,486.”

“The board is responsible for selection of an independent accountant and for the oversight of the financial statement audit. This process has not changed from prior year.”