Housing Tr Fund of Santa Barbara County Inc.

“Management performed a detailed review of the 990. After management's review, the 990 was circulated to all board members via email for review. Sufficient time was allowed for addressing comments or questions. The executive committee on behalf of the board of directors approved the filing of form 990.”

“Part vi, section b, question 12c transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1. The conflicting interest is fully disclosed; 2. The person with the conflict of interest is excluded from the discussion and approval of such transaction; 3. A competitive bid or comparable valuation exists; and 4. The board has determined that the transaction is in the best interest of the organization. Disclosure involving volunteers in the organization should be made to the board chair, who shall bring the matter to the attention of the board of directors. Disclosure involving directors and committee members should be made to the board chair, (or if she or he is the one with the conflict, then to the board treasurer) who shall bring these matters to the board of directors. The board of directors determines whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to the organization. The decision of the board of directors on these matters will rest in its sole discretion, and its concern must be the welfare of the organization and the advancement of its purpose. The conflict of interest disclosure statement will be completed annually.”

“Determining compensation for executive management is done by an independent review by the board of directors. The review includes use of comparability data for similarly qualified persons in functionally comparable positions at similarly situated organizations. Approved compensation is budgeted and contemporaneous documentation regarding the deliberations and decisions regarding the compensation arrangement are memorialized in the minutes.”

“The organization has form 1023 along with the originally filed bylaws for the organization and form 990 available to the public upon request.”

“The organization's conflict of interest policy, financial statements and governing documents are made available at the organization's office during normal business hours or by request.”

“Authority delegated to executive committee explanation: per the bylaws, the board may, by a majority vote of directors, designate two or more of its members, who may also be serving as officers of this corporation, to constitute an executive committee. The executive committee, composed of board chairman, board vice-chairman, treasurer, and secretary, is authorized to act on behalf of the board, with certain exceptions, such as amending the bylaws. The executive committee met five times during the year ended june 30, 2018. All actions of the executive committee are reported to and ratified by the full board of trustees.”

“The organization's joint audit and finance committee assumes responsibility and oversight of the audit of the financial statements and selection of independent accountants.”