Oats Inc.

“Questionnaire prepared by two-three management staff and was reviewed by the Executive Director and presented to the Board at the next Board meeting. It is also electronically sent to the members”

“Management monitors for potential conflicts and addresses and resolves them as they occur. To assist in the process, newly hired employees are required to complete a conflict of interest form.”

“There are three approaches to reviewing compensation plans:JOB ANALYSIS - is the systematic study of jobs to determine what activities and responsibilities they include, their relative importance in comparison with other jobs, the personal qualifications necessary for performance of the jobs and the conditions under which the work is performed. An important concept in job analysis is that an evaluation is conducted of the job, not the person doing the job (even though some job analysis data may be collected from incumbents).JOB EVALUATION - is the systematic determination of the relative worth and value of jobs within an organization. The job evaluation process determines the relative worth of each job by establishing a hierarchy of jobs within an organization. Job evaluation is conducted following the completion of a formal job analysis, which focuses on the delineation of job duties and responsibilities (i.e., a job description) and essential knowledge, skills and abilities (i.e., job specifications), after all pertinent job requirements have been defined.MARKET PRICING - is the process of setting pay structures almost exclusively by collecting, analyzing and matching job salary survey data with rates paid in the external market. An organization may elect to use this method for professions that are market driven (i.e., information systems, engineering) or as a compensation philosophy across the board. OATS uses the U.S. Dept. of Labor Bureau of Labor Statistics for market analysis.OATS, Inc. has traditionally used a combination of these three approaches when reviewing its salary schedule.”

“OATS Inc. publishes an Annual Report in its quarterly newsletter, The Wheel, which is mailed to over 18,000 people and available online. The Annual Report contains the revenue and expenses and a notation that the full audit is available upon request.”

“Gain/Loss on Sale of Equipemnt = -$1302”