New Millennium Academy

“The school contracted with hmong american partnership (hap)/thrive education to provide day-to-day administrative and business operations of the school, including, without limitation: - implementation and administrative oversight of the school's educational program and its extra- and co-curricular activities, as approved or delegated by the board of directors; and - implementation of all human resources policies and procedures, oversight of management of all the school's staffing decisions, as approved or delegated by the board of directors.”

“To the extent required by applicable law, staff members who are employed by the corporation at the time of the election, including teachers, existing directors of the corporation, and parents/legal guardians of students enrolled at the school at the time of the election, may participate in the annual election of directors.”

“After corrections (if any) are made to the draft form 990 by the executive director and/or business manager, a public disclosure copy will be emailed to each board member for their review and feedback.”

“Board members complete and submit conflict of interest disclosures annually. Board members are reminded periodically of conflict of interest obligations, including the requirement to recuse from discussion and vote on any item that would fall into the conflict of interest category. Conflict of interest determinations are made by the executive director and school authorizer. If there would be school board deliberations/decisions involving a person with a conflict of interest, they would document the conflict, and excuse themselves from discussion and voting on these matters. All proceedings related to the conflicts of interest are documented in the meeting minutes.”

“A market analysis on a three-year cycle is used to determine the compensation for the administrators, and all other employees of the school as part of the annual budgeting process conducted by the board of directors.”

“The school's governing documents, conflict of interest policy, and financial statements are all available upon request.”

“Related board members per mn statute 124e.07, charter schools are required to have a licensed teacher as a member of the board of directors. Bridget mealman and janie yang are board members but receive 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 liabilites -379,283.”

“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.”