New City School

“The Form 990 is prepared by an independent accounting firm. Once the Form is completed, it is given to the School for review before it is signed and filed. It is not provided to all board members in a complete format.”

“The board assigns the monitoring to a specific committee who is responsible to review the compliance with the policy. Board members are required to annually complete a conflict of interest statement.”

“An annual review is completed by the governing board. The finance committee of the Board review compensation and recommend approval by the board. A written agreement is put in place.”

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

“Several members of the board are teachers at the school. Minnesota State statute 124D.10 subd.4(g) requires the board to have at least one member that is an employed/contracted teacher.”

“Jackie Paradis is paid by an unrelated organization for her services provided to the School. These payments are not directly tied to the School and as such are not included on the Schedule J.”

“Other fees-ProgServ-990 : Program service expenses 16,808. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,808. ELEM. ED - CONSULTANT FEES : Program service expenses 61,279. Management and general expenses 0. Fundraising expenses 0. Total expenses 61,279. PAYMENTS FOR EDUC TO OTH AGENC : Program service expenses 23,325. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,325. TITLE II, PART A - SUBGRANT < 25,00 : Program service expenses 4,299. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,299. TITLE II, PART A - INDIRECT COST : Program service expenses 190. Management and general expenses 0. Fundraising expenses 0. Total expenses 190. Title I -IASA/Title I, Part A IASA/ : Program service expenses 7. Management and general expenses 0. Fundraising expenses 0. Total expenses 7. TITLE I - INDIRECT COST : Program service expenses 2,727. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,727. SPEECH - PAYMENT TO OTH AGENCIES : Program service expenses 23,512. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,512. DHOH - CONTRACTED SERVICES : Program service expenses 83. Management and general expenses 0. Fundraising expenses 0. Total expenses 83. SPECIAL ED - SUB GRANT < 25,000 : Program service expenses 14,841. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,841. FEDERAL SUB AWARDS/CONT<25000. : Program service expenses 10,159. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,159. GEN SP ED - INDIRECT COST : Program service expenses 1,857. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,857. GEN SP ED - PAYMENT TO OTH AGENCIES : Program service expenses 53,650. Management and general expenses 0. Fundraising expenses 0. Total expenses 53,650. STAFF DEVELOPMENT - CONSULTING FEES : Program service expenses 5,200. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,200. HEALTH SERVICES - CONTRACTED SERVIC : Program service expenses 8,313. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,313. OPERATIONS & MAINT. - CONTRACTED SE : Program service expenses 531. Management and general expenses 0. Fundraising expenses 0. Total expenses 531. FACILITIES - CONTRACTED SERVICES : Program service expenses 259,182. Management and general expenses 0. Fundraising expenses 0. Total expenses 259,182. SCHOOL BOARD - CONSULTING FEES : Program service expenses 0. Management and general expenses 25,343. Fundraising expenses 0. Total expenses 25,343. HUMAN RESOURCES - ADS & BG CHECKS : Program service expenses 0. Management and general expenses 105. Fundraising expenses 0. Total expenses 105. ADMINISTRATIVE SUP - CONSULTING FEE : Program service expenses 0. Management and general expenses 56,594. Fundraising expenses 0. Total expenses 56,594. BUSINESS SERVICES - OFFICE SUPPLIES : Program service expenses 0. Management and general expenses 10,408. Fundraising expenses 0. Total expenses 10,408. BUSINES SERVICES - INDIRECT COST : Program service expenses 0. Management and general expenses -4,774. Fundraising expenses 0. Total expenses -4,774. Mngmnt - Fees for Service - Other : Program service expenses 0. Management and general expenses -81,942. Fundraising expenses 0. Total expenses -81,942. ELE ED - Consult/Fees For Svc - GRN : Program service expenses 0. Management and general expenses 7,519. Fundraising expenses 0. Total expenses 7,519.”

“The financial statements are prepared by an independent accounting firm. The statements are reviewed and approved by the board before being issued. This process was the same as last year.”

“The School is required to have an Authorizer to monitor its operations in order to maintain its charter. The School's approved Authorizer during the fiscal year 2017 was the Novation Education Opportunities.”

“Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted.”

“During the fiscal year ending June 30, 2019, changes in actuarial assumptions resulted in a significant reduction to the school's estimated pension liability, which created a "negative expense" of $437,966 for the current year.”