Arcadia Charter School

“As per mn statue 124e.07, staff members employed at the school, including teachers providing instruction under a contract, members of the board of directors, and all parents or legal guardians of children enrolled in the school are the voters eligible to elect the members of the school's board of directors.”

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

“The finance committee performed the detailed review of the form 990. The final draft is reviewed and approved by the board of directors prior to filing.”

“Officers and directors review this policy at the start of each year and each member is asked if they have any conflicts or potential conflicts to disclose, if a conflict exists, they are asked to identify them in detail. Directors and officers are to be excluded from discussion and/or voting on issues in which they have a conflict of interest as defined in board policy.”

“Compensation for the executive director is reviewed and approved by the board of directors using appropriate comparability data and contemporaneous substantiation. The school board refers to the mn charter school compensation survey report, a survey conducted by the minnesota association of charter schools (macs), when reviewing and approving the compensation of the executive director. This report was first introduced in 2005-2006 and is currently conducted every two years. The report provides information on salary ranges and benefits of charter school employees across the state of minnesota. This process last occurred in 2016.”

“The school's governing documents are made available to the public on their website.”

“Related board members per mn statute 124e.07, charter schools are required to have licensed teachers as members of the board of directors. Tammy prichard, tamra paulson, and tami kasch-flugum are board members but received compensation for their services as teachers.”

“Other consulting fees: program service expenses 213,961. Management and general expenses 16,883. Fundraising expenses 0. Total expenses 230,844.”

“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 91,047. Direct aid contributions relating to net pension liabilities 885.”

“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.”