Five Rivers Carpenters District Council Educational Trust Fund

“The board of trustees consists of six members. Three are appointed by the association and three are appointed by the union.”

“The fund does not have any committtees with broad authority to act on behalf of the governing body.”

“A copy of the form 990 is provided to the governing body for review prior to being filed.”

“The fund's conflict of interest policy covers directors, trustees, and officers. For each interest disclosed, the chairman or secretary will determine whether to: (a)take no action; (b) assure full disclosure to the board of trustees and other individuals covered by this policy such that the board of trustees may take action; or (c) ask the persons to recuse from participation in related discussions or decisions within the fund. The fund's chairman will monitor proposed or ongoing transactions for conflicts of interest and disclose them to the board of trustees of the fund in order to address potential or actual conflicts, whether discovered before or after the transaction has occurred.”

“The board determines salary amounts for the training director. They review local collective bargaining agreements for wage and benefit guidance. A review was completed on june 19, 2014. Wages are formalized in a contract with the training coordinator.”

“The organization makes its governing documents and financial statements available to the public upon request.”

“The fund uses a the modified cash basis of accounting with modifications for donated or purchased property and equipment, depreciation expense and accumulated depreciation, undeposited payroll withholdings, and liabilities arising from the receipt of borrowed cash. That basis differs from generally accepted accounting principles primarily because the fund has not recognized accounts receivable or amounts due vendors nor the related effects on earnings.”

“The board of trustees reviews and approves the prepared financial statements.”